Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

12/31/2014 12/31/2015 Fixed assets (Gross) $48,000 $48,000 Accumulated depreciation $24,000 $30,000 The average remaining life and the average age of the companys fixed assets at

12/31/2014

12/31/2015

Fixed assets (Gross)

$48,000

$48,000

Accumulated depreciation

$24,000

$30,000

The average remaining life and the average age of the companys fixed assets at the end of 2015 are closest to:

Select one:

a. Average remaining years = 5 years, and Average age = 8 years.

b. Average remaining years = 2 years, and Average age = 5 years.

c. None of other choices.

d. Average remaining years = 3 years, and Average age = 5 years.

e. Average remaining years = 3 years, and Average age = 8 years.

f. Average remaining years = 4 years, and Average age = 12 years.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Authors: E. Thomas Garman, Raymond Forgue

9th Edition

0618938737, 978-0618938735

More Books

Students also viewed these Finance questions