If using the straight line method the amount of

Assignment Help Accounting Basics

Reference no: EM13604601

1.Which of the following is true?
a.If using the double-declining-balance the total amount of depreciation expense during the life of the asset will be the highest.
b.If using the units-of-production method, it is possible to depreciate more than the depreciable cost.
c.If using the straight line method, the amount of depreciation expense during the first year is higher than that of the double-declining-balance.
d.Regardless of the depreciation method, the amount of total depreciation expense during the life of the asset will be the same.

2/ You are trying to explain debit and credit memos that appear on bank statements and whether these will increase or decrease your company's bank account balance. Complete the following table to help your new staff understand.

ITEM / Debit Credit ? / Increases or Decreases the Company's Bank Account Balance?

EFT payment ------- dr or Cr ? Increases or Decreases ?

Bank correction of an error due to posting another customer's check to your account
Service Charge ? dr or Cr ? Increases or Decreases ?

Note collected for our company ...... dr or Cr ? Increases or Decreases ?

NSF check ........dr or Cr ? Increases or Decreases ?

Bank correction of an error recording a $520 deposit as $250 ......dr or Cr ? Increases or Decreases ?

EFT deposit.........dr or Cr ? Increases or Decreases ?

Reference no: EM13604601

Questions Cloud

Companion computer company has been purchasing carrying : companion computer company has been purchasing carrying cases for its portablecomputers at a delivered cost of 68 per

Let s a b c be a sample space suppose p is a probability : let s a b c be a sample space.a suppose p is a probability on s and that you know pa 0.2 and pa b 0.5 then what are

Diamond-125 per mo 75 discount for first three months : diamond-125 per mo. 75 discount for first three months platinum 100 per mo. 50 disocunt first three mo gold 90 a mo

When a driver brakes an automobile the friction between : when a driver brakes an automobile the friction between the brake drums and the brake shoes converts the cars kinetic

If using the straight line method the amount of : 1.which of the following is true?a.if using the double-declining-balance the total amount of depreciation expense

During an assembly process parts arrive just as they are : during an assembly process parts arrive just as they are needed. however at one station the probability is 0.01 that a

The air surrounding the piston-cylinder is at 147 psi what : one cubic foot 1 ft3 of air is contained in a piston - cylinder arrangement. the axis of the cylinder is oriented in

Let g be a set and let be an associative binary operation : let g be a set and let be an associative binary operation on g. assume that there exists a left identity element in g

An aluminum cup contains 225 g of water and a 40 g copper : an aluminum cup contains 225 g of water and a 40 g copper stirrer all at 27degc. a 420 g sample of silver at an initial

User Account

All Pages