9. A schedule of equipment owned by DAISY Corporation is presented below: Equipment 2 Equipment 3 60,000 Equipment 1 Total Cost Estimated salvage value Estimated life in years P 825,000 P 300,000 75,000 20 30,000 15 The company computes depreciation using the straighe-line method, Based on the information presented, what is the group or composite life of the assets? 16 years O 19.8 years O 18 years O 13.3 years

Q: how the value of the property is established through an appraisal?

A: Appraisal of a property is done to understand the highest probable price for a property and to…

Q: Analyze how different types intangible assets are accounted for.

A: An asset is intangible when it cannot be seen, which means the asset that does not have any physical…

Q: What are intangible assets? Intangibles with Identifiable and non-identifiable economic life? Please…

A: Various kinds of physical and non-physical resources that a company purchases and uses for the…

Q: How can we determine the Acquisition of Fixed Assets?

A: Fixed Assets- Fixed Assets are those assets which are acquired for the purpose of: production or…

Q: What are the two common categories of long-lived assets? Describe each.

A: Long lived assets are those assets that a business retains for long periods of time for use in the…

Q: Define current assets and list the typical asset categories included in this classification.

A:

Q: Describe classifications of long term assets.

A: Long-term assets: Long – term assets are those assets that are generally held by a company for more…

Q: what are the different types of intangible assets and give examples of each

A: Intangible assets: These are the long-term assets that are not physical in nature, but possess…

Q: what is the definition of Intangible Assets and Goodwill and what are some of the types of…

A: The assets can be classified as fixed assets, current assets and intangible assets.

Q: what is the attributes of determining the far value of intangible assets.

A: A non-physical asset is referred to as an intangible asset. Intangible assets contain goodwill, name…

Q: A cost that is recorded as an asset is ________. Group of answer choices an operating expenditure…

A: The objective of the question is to identify the type of expenditure that is recorded as an asset in…

Q: epayment of grant related to an asset?

A: The asset is an economic resource that a corporation or business entity owned for its economic…

Q: Briefly explain the differences and similarities between the group approach and composite approach…

A: Group depreciation method:The group depreciation method defines the group of depreciable assets is…

Q: What are the Required disclosures about each major class of capital assets?

A: Capital asset refers to the assets with a longer useful life i.e. more than a year and is not…

Q: What is impairment in the context of intangible assets?

A: Non-physical assets without physical substance but with economic worth to a business or individual…

Q: What are some examples of tangible and intangible assets?

A: Introduction:- Assets are mainly categories into two types based on the existence. these are as…

Q: How can we determine the service life of an asset?

A: A tangible asset is a substantial resource. Tangible resources incorporate fixed resources including…

Q: Explain the difference between Tangible and Intangible Assets

A: Introduction: Assets: Any resource which is having monetary value called as Assets. Assets are to be…

Q: Discuss the nature of acquiring fixed assets?

A: Fixed assets are one of the major investments of a company and this covers the huge part of the…

Q: What are the various types of long term assets? Name them.

A: Definition: Long-term assets are the assets which are intended to be held for a longer period of…

Q: Discuss the characteristics, valuation, and amortization of intangible assets.

A: Intangible assets have two main characteristics: (1) Lack physical existence, and (2) Non-…

Q: Distinguish between current assets and non-current assets, giving TWO examples of each type of…

A: Assets are the resources owned by an entity for running the daily operations of the business. These…

Q: What is Indefinite life intangible assets?

A: Definition:   Intangible assets: These are the long-term assets that are not physical in nature, but…

Q: describe the nature of the assets that compose the following categories: (a) current asset, (b)…

A: In Chart of Accounts we prepare for Current Asset and Non Current Asset. Current Asset consist Cash,…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.