Ask Question
BusinessBusiness
2 September, 21:14

Consider a service company that provides carpet cleaning and uses straight-line depreciation. Classify the cost of the depreciation on the carpet cleaning machines.

+5
Answers (1)
  1. 2 September, 22:07
    0
    IAS 16 states that the cost of an item of property, plant and equipment shall be recognized as an asset if, and only if: it is probable that future economic benefits associated with the item will flow to the entity; and. the cost of the item can be measured reliably.

    Explanation:

    Basically the depreciation will reduce the asset value in the assets account
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Consider a service company that provides carpet cleaning and uses straight-line depreciation. Classify the cost of the depreciation on the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Who believed African Americans should focus on vocational skills? W. E. B. Du Bois Booker T. Washington William Jennings Bryan
Answers (2)
What can cause a lift truck to tip over
Answers (1)
On december 1, milton company borrowed $300,000, at 8% annual interest, from the tennessee national bank. interest is paid when the loan matures one year from the issue date.
Answers (1)
Moshi and her best friend have phrases they use with each other that have specific meanings. For example, when they're upset about something, they say, "I really need a hamburger," and when they're happy, they say, "It's tea time.
Answers (1)
Which of the following is not true about the confirmation of accounts receivable? A. Confirmation requests should bear the auditors' return address. B. Confirmation requests should be signed by the auditors. C.
Answers (1)
New Questions in Business
Which of the following statements is true of theories in economics? Theories in economics A. are used to construct models from which quantitative predictions can be made. B.
Answers (1)
Reducing (and sometimes eliminating) the size of engineering staffs has become a recent trend among airlines since they are no longer as involved with the design of new aircraft. A. True B. False
Answers (1)
Ashton Bank knows that its customer, Juan, has died. One day after Juan's death, Ashton Bank was presented a check for clearing of $3,000. The check was written by Juan a week prior to his death to Bailey Enterprises.
Answers (1)
Which of the following may be true for a company pursuing a strategy of unrelated diversification rather than a strategy of related diversification? a. The company has to achieve coordination between business units. b.
Answers (1)
Private markets fail to reach a socially optimal equilibrium when positive externalities are present because the A. private cost exceeds the private benefit at the private market solution. B.
Answers (1)
Home » Business » Consider a service company that provides carpet cleaning and uses straight-line depreciation. Classify the cost of the depreciation on the carpet cleaning machines.
Sign Up Forgot Password?