The cost of an asset is $1,000,000, and its residual value is $290,000. Estimated useful life of the asset is five years. Calculate depreciation for the first year using the double-declining-balance method of depreciation
A) $284,000
B) $400,000
C) $200,000
D) $142,000
B .Double-declining-balance depreciation = (Cost - Accumulated depreciation) x 2 x (1 / Useful life)
Depreciation for the first year = $1,000,000 x 2 x (1 / 5 ) = $400,000
You might also like to view...
Garcia Company's stockholders' equity equals one-half of the company's total assets. The company's liabilities are $140,000. What is the amount of the company's stockholders' equity?
Complete the following table in preparation for a Monte Carlo simulation
Demand Probability Cumulative Probability Interval of Random Numbers 1 01-20 2 21-25 3 26-50 4 51-80 5 81-00
Fun Time Amusement Park provides a variety of attractions
Fun Time sells tickets at $50 per person as a one-day entrance fee. Variable costs are $28 per person, and fixed costs are $178,800 per month. Assume that Fun Time reduces fixed costs from $178,800 per month to $166,500 per month. Compute the new breakeven point in tickets and in sales dollars. What will be an ideal response
Which of the following statements is true about team selling?
A. It is not appropriate for expensive, complex, high-tech business products. B. Teams typically consist of a sales rep and a marketing rep. C. Teams do not include representatives from finance. D. It is appropriate for expensive, complex, high-tech business products. E. Teams usually include someone from human resources.