Agnes purchased a computer for $2,240. It has an estimated useful life of four years and an estimated residual value of $240. The entry to record the depreciation charge for the first year using the double-declining-balance method is:
A) Depreciation Expense-Computer 1,120 Accumulated Depreciation-Computer 1,120
B) Depreciation Expense-Computer 2,000 Accumulated Depreciation-Computer 2,000
C) Depreciation Expense-Computer 1,000 Accumulated Depreciation-Computer 1,000
D) Computer 2,000 Cash 2,000
A
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Product value analysis is an approach to efficiency that studies whether components can be redesigned or made by more efficient methods of production without adversely impacting product performance
Indicate whether the statement is true or false
A flood destroyed a company's warehouse contents on September 12. The following information was the only information that was salvaged:1. Inventory, beginning: $29,100 2. Purchases for the period: $18,100 3. Sales for the period: $56,100 4. Sales returns for the period: $810 The company's average gross profit ratio is 29%. What is the estimated cost of the lost inventory using the gross profit method?
A. $31,165.90. B. $33,512.00. C. $47,200.00. D. $7944.10. E. $46,200.00.
Identify the correct formula below used to calculate the debt ratio.
A. Total Liabilities/Total Assets. B. Total Assets/Total Liabilities. C. Total Equity/Total Assets. D. Total Liabilities/Total Equity. E. Total Equity/Total Liabilities.
The conscientious, highly structured effort to learn new skills, carried out with an eye for long-term achievement, describes which of the following terms?
a. fixed mindset b. perseverance c. deliberate practice d. structured learning