For income statement purposes, which could depreciation method be used under CAS 4?
A: Units-of-production
B: Straight-line
C: Sum-of-the-years'-digits
D: Declining-balance
A: Units-of-production
B: Straight-line
C: Sum-of-the-years'-digits
D: Declining-balance
举一反三
- On January 4, 2012, Mary's Cafe acquired equipment for $200,000. The estimated life of the equipment is 8 years or 60,000 hours. The estimated residual value is $10,000. What is the balance in the Accumulated Depreciation account at December 31, 2013 if the straight-line method is used? A: $10,000 B: $25,000 C: $47,500 D: $50,000
- If a company wished to maintain the carrying amount in the financial statements of its non-current assets, which of the following would it be unlikely to do? A: Enter into a sale and short-term leaseback B: Account for asset-based government grants using the deferral method C: Revalue its properties D: Change the depreciation method for new asset acquisitions from 25% reducing balance to ten years straight line
- Which accounts appear on which financial statement? Balance sheet Income statement
- Which financial statement reports net income and dividends?（ ）。 A: Income Statement B: Statement of Cash Flows C: Statement of Retained Earnings D: Balance Sheet
- Which could be used to express purposes?