Question and answer
Question not found
Ask a question
Not a good answer? Get an answer now. (Free)
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
what are two types of long-lived assets.
Weegy: Long-lived assets are primarily operational assets and are classified into two basic types: tangible and intangible. [ ] (More)
Question
Expert Answered
Asked 8/13/2012 1:54:38 PM
0 Answers/Comments
What is included in the cost basis of a long-lived asset?
Weegy: ) long-lived assets start as some sort of purchase by the company. In fact, whenever a company purchases an asset, it will either expense or capitalize the purchase. [ Consider a simple example of a company that generates $150 in sales and, in the same year, spends $100 on research and development (R&D). In scenario A below, the entire $100 is expensed and, as a result, the profit is simply $50 ($100 ? $50). In scenario B, the company capitalizes the $100, which means a long-lived asset is created on the balance sheet and the cost is allocated (charged) as an expense over future periods. If we assume the asset has a five-year life, only one-fifth of the investment is allocated in the first year. The other $80 remains on the balance sheet, to be allocated as an expense over the subsequent four years. Therefore, the profits are higher under scenario B, although the cash flows in the two scenarios are exactly the same: Read more: ] User: Explain for at least two types of such assets. Weegy: Assets are economic resources. Anything tangible or intangible that is capable of being owned or controlled to produce value and that is held to have positive economic value is considered an asset. (More)
Question
Expert Answered
Asked 8/13/2012 2:14:26 PM
0 Answers/Comments
How is the appropriate depreciation method determined
Weegy: Four popular methods are: (1) straight-line, (2) units-of-output, (3) double-declining-balance, [ [ and (4) sum-of-the-years'-digits.A variety of approaches can be used to calculate depreciation.most companies elect to stay with one of the fairly basic techniques - as they all produce the same "final outcome" over the life of an asset, and that outcome is allocating the depreciable cost of the asset to the asset's service life. Therefore, although you will now only be exposed to four methods, those methods are the ones you are most apt to encounter. ] ] (More)
Question
Expert Answered
Asked 8/13/2012 3:21:19 PM
0 Answers/Comments
How is the appropriate depreciation method determined?
Weegy: Four popular methods are: (1) straight-line, (2) units-of-output, (3) double-declining-balance, [ [ and (4) sum-of-the-years'-digits.A variety of approaches can be used to calculate depreciation.most companies elect to stay with one of the fairly basic techniques - as they all produce the same "final outcome" over the life of an asset, and that outcome is allocating the depreciable cost of the asset to the asset's service life. Therefore, although you will now only be exposed to four methods, those methods are the ones you are most apt to encounter. ] (More)
Question
Expert Answered
Asked 8/13/2012 3:18:43 PM
0 Answers/Comments
Has the concept of asset impairment changed accounting for long-lived assets under the historical cost model? If so, how?
Weegy: In accounting the historical costs model is the original monetary value of an economic item or asset. This cost is based on the stable measuring unit assumption. . [ In some cases assets and liabilities may be shown at their historical cost as if there had been no change in value since the date of acquisition. ] (More)
Question
Expert Answered
Asked 8/13/2012 3:31:12 PM
0 Answers/Comments
21,061,525 questions answered
Popular Conversations
The Sarbanes-Oxley Act of 2002 (SOX) was largely a response to-
Weegy: As a result of SOX, top management must individually certify the accuracy of financial information. User: A ...
5/25/2015 7:13:43 AM| 2 Answers
The Earth is located in the Milky Way, which is a ____________ ...
Weegy: The Earth is located in the Milky Way, which is a spiral galaxy. User: The revolution of the Earth creates ...
5/25/2015 9:41:50 AM| 2 Answers
Types include rain, sleet, snow and hail
Weegy: Precipitation creates clouds, snow, sleet, rain and hail. User: Is the only known planet that is able to ...
5/25/2015 9:45:12 AM| 2 Answers
Daffydowndilly's dialogue with the stranger shows that Daffydowndilly ...
Weegy: D. open-minded User: Which lines from the poem most clearly express the poet's philosophical approach to the ...
5/25/2015 1:25:13 PM| 2 Answers
Use the discriminant to describe the roots of each equation. Then ...
Weegy: 3x^2 - 2 + 7x = 0 discriminant = b^2 - 4ac = 7^2 - 4(3)(-2) = 49 + 24 = 73 > 0 There are Two Real Irrational ...
5/25/2015 1:48:40 PM| 2 Answers
Weegy Stuff
S
L
Points 706 [Total 1236]| Ratings 2| Comments 686| Invitations 0|Offline
S
Points 616 [Total 624]| Ratings 1| Comments 606| Invitations 0|Offline
S
1
Points 525 [Total 917]| Ratings 2| Comments 505| Invitations 0|Online
S
L
P
Points 313 [Total 2790]| Ratings 1| Comments 303| Invitations 0|Offline
S
P
C
L
P
L
1
P
P
1
P
1
Points 248 [Total 8994]| Ratings 0| Comments 248| Invitations 0|Offline
S
Points 118 [Total 138]| Ratings 0| Comments 118| Invitations 0|Online
S
1
L
L
Points 67 [Total 8250]| Ratings 0| Comments 67| Invitations 0|Offline
S
L
Points 56 [Total 3810]| Ratings 2| Comments 36| Invitations 0|Offline
S
L
1
R
Points 35 [Total 1322]| Ratings 0| Comments 35| Invitations 0|Offline
S
Points 14 [Total 14]| Ratings 0| Comments 14| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.