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: What is the classification of long term assets? Explain them.

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

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: 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: How can the Gains and Losses on Depreciable Assets be determined?

A: For calculation of gains or losses on depreciable assets, written down value of the assets at the…

Q: What are the long-term assets which do not have any physical existence? A. Intangible Assets B.…

A: Tangible Assets:These assets are physical, measurable Resources; like Property, Plant &…

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: would the return on as

A: Return on Assets is net income divided by the average total assets

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: Define Intangible Assets.

A: Definition:   Assets: These are the resources owned and controlled by business and used to produce…

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 fictional assets, and how do they work?

A: Asset is such resources that has future benefits. It has two types:- tañgible , intangible.…

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…

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.