Option (B) is the right choice. Explanation: Calculating the depreciable basis involves subtracting residual value from cost, which here results in $190,000 - $10,000, giving us $180,000. The usage is identified as 75,000 bolts. The first-year figures indicate the book value starts at $190,000, while 15,000 bolts were created, translating the depreciation expense into 15,000 multiplied by $2.40, equal to $36,000. Subsequently, the ending book value becomes $190,000 minus $36,000, resulting in $154,000. For Year 2, using 19,000 units leads to a depreciation expense of $45,600. The concluding book value for Year 2 becomes $108,400, while accumulated depreciation for both years culminates at $81,600.
Answer: 12750
Explanation:
According to the information provided, Jake’s Cabins is a modest motel chain located close to the national parks in Utah, Wyoming, and Montana, and the recorded data for guest nights in June is as follows:
4400, 3600, 2250, 2400, and 100.
To calculate the total guest nights for June, we will sum these amounts. This calculation results in:
= 4400 + 3600 + 2250 + 2400 + 100
= 12750
Thus, the total guest nights for June amount to 12750
Response:
A career can be likened to a "building block," whereas a job can be compared to a "castle or a tower"
Answer:
False
Explanation:
According to GAAP, if the costs associated with providing accounting information surpass the benefits of obtaining such data, then it should not be reported.
For instance, there might be minimal discrepancies in particular accounts that prevent a balance sheet from being accurate. If the accounting mistake is negligible, such as a few hundred dollars, it isn't practical to have an entire audit team re-examine all financial statements to find the source of the error. An adjusting entry could be utilized to balance the accounts.
Consider a scenario where you, as an auditor, need to verify the physical inventory at a factory, but some supply boxes have been misplaced. Counting all supplies and materials again could take an entire day; however, is it truly worth that time? If the items are highly valuable, then yes, otherwise, if they consist of low-cost components, likely not.
