Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer both questions in 10 min thanks Bramble Corp. owns the following assets: Asset Cost Salvage Estimated Useful Life A $417000 $44000 10 years

please answer both questions in 10 min thanks image text in transcribed
image text in transcribed
Bramble Corp. owns the following assets: Asset Cost Salvage Estimated Useful Life A $417000 $44000 10 years B 228000 23000 5 years 491000 23000 12 years What is the composite depreciation rate of Bramble's assets? 14.0% 10.3% 12.9% 11.2% When an asset being depreciated under the group method is disposed of, any resulting gain or loss is: recorded in the Accumulated Depreciation account. recorded in the Depreciation Expense account. recorded as an ordinary gain. recorded as an extraordinary gain

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

More Books

Students also viewed these Accounting questions

Question

=+(2.9) PUAK =EP(A) - EP(ANA,) k=1 i

Answered: 1 week ago

Question

5. Structure your speech to make it easy to listen to

Answered: 1 week ago

Question

1. Describe the goals of informative speaking

Answered: 1 week ago