A machine with a cost of $100,000 has an estimated residual value of $10,000 and an estimated life of 10 years or 30,000 hours. What is the amount of depreciation for the first full year, using the double-declining-balance method?
a. $10,000
b. $9,000
c. $20,000
d. $18,000
c
You might also like to view...
Aubry purchased a washing machine, a freezer, and a refrigerator from Gateway Appliances on credit, giving Gateway a security interest in the appliances. The appliances were for Aubry's household use. Gateway did not file a financing statement. Six
months later, Aubry had a garage sale and sold the appliances to Tam. Tam bought the appliances for her student rental property. Aubry left town owing money on the appliances. If Gateway can trace the appliances to Tam, can Gateway repossess the appliances? Explain in detail.
Richly Retail Outlets, Inc, contracts with Stand-Rite Contractors to build a store. Stand-Rite assigns the contract to Town Builders, which has a poor record of completing projects. Richly could most successfully argue that the contract cannot be assigned because A) Richly did not consent to the assignment
B) Richly did not receive adequate consideration for the assignment. C) the assignment will materially increase the risk of nonperformance. D) Town Builders was not an original party to the deal.
Sebastian was the manager of Thai Bistro, a restaurant specializing in Southeast Asian foods. Sebastian opened a bank account in Thai Bistro's name, signing the account signature card as "owner." Umeko, who was often at Thai Bistro and had free access
to its office, told others that she was "an owner" and "a partner." She also opened a bank account in Thai Bistro's name, and signed the account signature card as "owner." Sebastian told Vijay, the owner of Wong Noodles, Inc, that Umeko was a member of a partnership that owned Thai Bistro. On this basis, Wong Noodles delivered its goods to Thai Bistro on credit. In fact, Thai Bistro was owned by a corporation. When the unpaid account totaled more than $10,000, Wong Noodles filed a suit against Umeko to collect. On what basis might Umeko be liable for the debt?
________ is the reverse of evaluation deficiency. It occurs when activities that are not part of the job are included in the evaluation.
A. Distortion B. Expansion C. Contamination D. Deficiency