Homework Answers
Salvage value is the estimated value of an asset that the owner of the asset is paid when the item is sold at the end of its useful life. In other words it is the estimated resale value of an asset at the end of its useful life. It is also known as residual value and designates the future value of an asset in terms of depreciation of its primary value. Therefore salvage value is a future value. Hence the answer is option (a).
The asset cost less accumulated depreciation equals salvage value. O True O False
The asset cost less accumulated depreciation equals salvage value. O True O False
If the salvage value was decreased for Asset 1002, what affect would there be on depreciation...
If the salvage value was decreased for Asset 1002, what affect would there be on depreciation expense? What affect on the Accumulated Depreciation Small Builders, Inc. Depreciation Schedule Asset # 1001 IF=(condition, value if true, value if false) - Cell G12 Asset Display Cases IF=[condition, value if true, value if false(condition, value if true, value if false)] - Cells G13-G16 Date acquired 1/1/2015 X should switch Cost $ 15,000.00 - do not switch Depreciation method DDB Salvage value Estimated useful...
According to US GAAP, no asset can be reported at fair value. True or False According...
According to US GAAP, no asset can be reported at fair value.
True or False
According to US GAAP, no asset can be reported at fair vale True False
The account "Accumulated Depreciation" reflects depreciation: equal to the salvage value of the asset equal to...
The account "Accumulated Depreciation" reflects depreciation: equal to the salvage value of the asset equal to the amount of revenue from that asset still to be taken on the asset in future periods taken since acquisition of the asset for the most current period only
1(a.) (TRUE or FALSE?) We mark it up the value of a future promised or expected...
1(a.) (TRUE or FALSE?) We mark it up the value of a future promised or expected cash payment because it is worth more if the same amount of money is to be received later rather than now. 1(b). (TRUE or FALSE?) Money expected or promised in the future is worth less than the same amount of money in hand today. 1(c). (TRUE or FALSE?) The payments of an amortized loan reflect a decreasing amount going toward principal and an increasing...
A plant asset has a cost of $39300 and a salvage value of $10200. The asset...
A plant asset has a cost of $39300 and a salvage value of $10200. The asset has a three-year life. If depreciation in the third year amounted to $4850, which depreciation method was used? O Sum-of-the-years'-digits O Cannot tell from information given O Straight-line Declining-balance
Choosing a higher discount rate decreases the calculated future value. Select one: True False
Choosing a higher discount rate decreases the calculated future value. Select one: True False
Please answer these questions: The future value of a single sum is determined by multiplying the...
Please answer these questions: The future value of a single sum is determined by multiplying the future value factor by its present value. True or False. In all cases when FIFO is used, the cost of goods sold would be the same whether a perpetual or periodic system is used. True or False. Avoidable interest is the amount of interest cost that a company could theoretically avoid if it had not made expenditures for the asset. True or False. The...
QUESTION 16 In C language, FALSE is represented by zero value. O True O False Click...
QUESTION 16 In C language, FALSE is represented by zero value. O True O False Click Save and Submit to save and submit. Click Save A
Bramble Corp. purchased a depreciable asset for $379000. The estimated salvage value is $25000, and the...
Bramble Corp. purchased a depreciable asset for $379000. The estimated salvage value is $25000, and the estimated useful life is 8 years. The double declining balance method wil be used for depreciation. What is the depreciation expense for the second year on this asset? $94750 O 571063 O $66625 $44250
The asset cost less accumulated depreciation equals salvage value. O True O False
According to US GAAP, no asset can be reported at fair value.
True or False
According to US GAAP, no asset can be reported at fair vale True False
A plant asset has a cost of $39300 and a salvage value of $10200. The asset has a three-year life. If depreciation in the third year amounted to $4850, which depreciation method was used? O Sum-of-the-years'-digits O Cannot tell from information given O Straight-line Declining-balance
QUESTION 16 In C language, FALSE is represented by zero value. O True O False Click Save and Submit to save and submit. Click Save A
Bramble Corp. purchased a depreciable asset for $379000. The estimated salvage value is $25000, and the estimated useful life is 8 years. The double declining balance method wil be used for depreciation. What is the depreciation expense for the second year on this asset? $94750 O 571063 O $66625 $44250
Most questions answered within 3 hours.
-
Buses are powered by chemical reactions. Define matter and the
four states of matter. What is...
asked 13 minutes ago -
Use conservation of energy to find the velocity of a free point
charge q1 at 22cm...
asked 20 minutes ago -
First, describe policies promoted by governments of the
political right to address economic globalization. Second, describe...
asked 37 minutes ago -
M2-9 Completing T-Accounts LO2-4
Following are the transactions of Dennen, Inc., for the month of
January....
asked 37 minutes ago -
Write a program using python that reads from values from a text
file and plots them...
asked 39 minutes ago -
Look up the density of
the metal of the object used in parts A and B...
asked 38 minutes ago -
Discuss strategic considerations that Amazon and NYC politicians
had. Analyze why the deal between Amazon and...
asked 41 minutes ago -
A combustion reaction is describes as a carbon source reacting
with oxygen and producing carbon dioxide...
asked 56 minutes ago -
Buckminsterfullerence is a recently allotrope of carbon in which
carbon atoms form molecules of formula C_60,...
asked 58 minutes ago -
Lower Equitorial and Upper Equitorial are the same except Lower
Equitorial has a larger capital stock....
asked 1 hour ago -
how do you think that pH of a jar where you have added a certain
amount...
asked 1 hour ago -
If the Federal Reserve increases the reserve requirement, what
will happen to the Money Supply in...
asked 1 hour ago