On January 2, 2016, King Pet purchased fixtures for $38,100 cash, expecting the fixtures to remain in service for nine years. King Pet has depreciated the fixtures on a straight-line basis, with $3,000 residual value. On August 31, 2018, King Pet sold the fixtures for $22,200 cash. Record both depreciation expense for 2018 and sale of the fixtures on August 31, 2018

Q: why are all the answerer are wrong please help

A: Inventory valuation method includes: First-in, first-out (FIFO) Last-in, first-out (LIFO) Weighted…

Q: What is the solution is it 1600 as I stated above that is wrong

A: Tax credits are sums of money that taxpayers can deduct directly from their taxes. Tax credits, as…

Q: Question 25

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: How do I solve these?

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: mni.4 answer must be in proper format or i will give down vote

A: Approach to solving the question: post the question  Detailed explanation: Post the question and the…

Q: hmm that's coming up wrong

A: This is the case of an annuity.  Annuity refers to periodic cash flows of fixed constant amounts.

Q: is the right answer 7.38

A: Let 100 be the value of Ne Zealand dollar Value of US dollar = 140 Value after inflation in New…

Q: John wishes to borrow 20,000. Lender X and Y offer the following terms: (1) Lender X will be repaid…

A: Present value:Present value is popularly known in short as PV. It is a concept of accounting that…

Q: What is the difference between the Cumberland Gap and GAAP?

A: Answer:-  Difference meaning:- Difference is an important notion in philosophy, referring to the…

Q: What is the meaning of V MFG Ohs, V S&A Ohs, F MFG Ohs snd F S&A Ohs on the chat answer

A: V MFG Ohs, V S&A Ohs, F MFG Ohs and F S&A Ohs, these are the short form some of the titles…

Q: What is BATNA?

A:

Q: What is golden parachute?

A: Golden parachute: It is a huge bit of leeway offered to top administrators when the organization is…

Q: 1. Sona Manufacturing provided the following information for last month: 3. Sales Variable Costs…

A: There are two type of costs that are being incurred in business. One is fixed costs, which will not…

Q: What is this question answer?

A: Net realizable value = Estimated Selling Price -  Cost of Completion and Disposal where, Cost of…

Q: Vhhhbbbbbbbnn

A:

Q: What is crypto?

A: A crypto is a currency which is internet based medium of exchange uses to conduct the financial…

Q: Mamuțelerăit puiul de om

A: Mowgli, the human cub found by the wolves in 'The Jungle Book', is described as a very small and…

Q: dgdfdgdhfgff

A: It looks like your message might have been incomplete or accidentally sent. How can I assist you…

Q: Zhhshsdhhsdhhsjsjshsnsns

A: Key references: Dwivedi, Y. K., Kshetri, N., Hughes, L., Slade, E. L., Jeyaraj, A., Kar, A. K., ...…

Q: can i please get a correct answer for that question

A: The statement of comprehensive income is computed by adding the net income – which is found by…

Depreciation Methods

The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.

Depreciation Accounting

In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.