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Jet001 [13]
2 years ago
5

Holly, Inc. has a building that originally cost $562,500. Holly expects to be able to sell the facility for $160,500 at the end

of its useful life. The balance of the related Accumulated Depreciation account is $387,000. The residual value of the facility is:__________.
A. $226,500.
B. $175,500.
C. $160,500.
D. $402,000.
Business
1 answer:
storchak [24]2 years ago
6 0

Answer:

C. $160,500.

Explanation:

Depreciation: The depreciation is an expense that shows a reduction in the value of the fixed assets due to tear and wear, obsolesce, usage, time period, etc. It is shown on the debit side of the income statement. It is a non-cash item that does not affect the cash balance.

The formula to compute the depreciation expense under the straight-line method is shown below:

= (Original cost - residual value) ÷ useful life

The original cost is the purchase value of the assets

The residual value is the salvage value at the end of its useful life

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ahrayia [7]

Answer:

The correct answer is letter "D": Insurance companies will only cover losses suffered while the policy is already in place.

Explanation:

Regardless of the type of insurance you purchase, the purpose of the coverage is having a policy in case an unexpected unfortunate event takes place. <em>Insurances do not enroll individuals who need the policy just because of an ongoing accident</em>. Those individuals could enroll in an insurance plan but the ongoing accident will not be covered by the company. Only those events happening when the policy is already valid are subject to evaluation for coverage.

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2 years ago
Carla Vista Co. had the following assets on January 1, 2017. Item Cost Purchase Date Useful Life (in years) Salvage Value Machin
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Answer:

I have no Idea ask your teacher

7 0
1 year ago
Blue Hamster Manufacturing Inc. just reported earnings after tax (also called net income) of $8,000,000, and a current stock pri
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Answer:

$38.80 per share

Explanation:

The computation of the stock price one year from now is shown below:

But before that first need to do the following calculations

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6 0
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pshichka [43]

Answer:

a scale of preference has to be drawn.

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8 0
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When a rocky shore erodes at approximately the same rate, we call that a:
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