题目内容
Ursula Tax Planning Service has the following plant assets: Communications equipment: Cost, $6,720 with useful life of 8 years; Furniture: Cost, $18,000 with useful life of 12 years; and Computer: Cost, $12,000 with useful life of 4 years.Ursula's monthly depreciation expense calculated using the straight-line method is: (Assume salvage value of all the assets to be zero)
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Viva Inc. had bought machine X for $15,500 two years ago. The machine had no residual value and had an estimated useful life of 10 years. If the company uses the straight line depreciation method, calculate the current book value of the machine.
Accrued revenues are the income that has been received but not earned.
Prepaid insurance is an asset account, and hence it appears on the balance sheet.
The depreciation method that allocates an equal amount of depreciation each year is called the straight-line method.
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