If an asset costs $35,000, has a residual value of $3,000, and has a useful life of five years, the entry to record depreciation in the second year, using the double-declining-balance method, is:
a. Depreciation Expense - Asset 8,050
Cash 8,050
b. Depreciation Expense - Asset 8,400
Accumulated Depreciation - Asset 8,400
c. Depreciation Expense - Asset 8,750
Accumulated Depreciation - Asset 8,750
d. Accumulated Depreciation - Asset 9,100
Depreciation Expense - Asset 9,100
B
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________ is acquiring ownership of realty by openly treating it as one's own, with neither protest nor permission from the real owner, for a statutorily established period of time
A) Adverse possession B) Adverse regression C) Reverse possession D) Reverse regression
Compared to the chi-square method, the _________________________ does not require any minimum values for expected frequencies and can be used with relatively small samples. (Answer could be several words)
Fill in the blank(s) with correct word
A Foreign Freight Forwarder is unregulated by the government
Indicate whether the statement is true or false
A taxpayer's tentative minimum tax exceeds his net income tax so he will be paying the alternative minimum tax this year. The taxpayer has a sole proprietorship through which he has earned general business credits. The taxpayer can reduce his AMT to the extent of his general business credits.
Answer the following statement true (T) or false (F)