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How is the straight line depreciation method different from declining balance method?
Under straight line depreciation, fixed amount of depreciation is charged to every year while in declining balance method depreciation percentage remains same but depreciation is charged on remaining balance of asset due to which the amount of depreciation is different in every year.
When a company decides to switch from the double-declining method to straight-line method this change should be handled as a?
Change in accounting estimate. The switch from double-declining balance method to straight-line method should be treated as a change in accounting estimate and accounted for prospectively. This change should not be applied retroactively.
What is the difference between elastic demand and inelastic demand?
Elastic demand is essentially when something it a luxury, hence it can become less when price increases eg. that last piece of choc cake that you would normally buy, you decide not to, whereas the inelastic demand generally refers to a product/service that is essential or a necessity so as the price increases the consumption should remain the same regardless of price increase. for instance you need a loaf of bread, your going to buy it regardless of increase. there is the process of substitution, by which the inelastic demand could be switched to a cheaper brand, so say you want beans for your bread, you opt for the half price 10p special rather than your usual choice of heinz's best recipe. Hope this helps!
An asset costs 33000 it has an expected useful life of 5 years and an expected salvage value of 3000 what is the depreciation for the first year of assets life using the double declining method?
The double declining balance method depreciates the asset at twice the straight-line rate. To calculate the annual depreciation expense, you first find the straight-line depreciation rate by dividing the depreciable cost (original cost - salvage value) by the useful life. In this case, the depreciable cost is $33,000 - $3,000 = $30,000. The straight-line rate is $30,000 / 5 years = $6,000 per year. Double that rate to get the double declining rate of $12,000 per year. Therefore, the depreciation for the first year would be $12,000.
Is demand of education elastic or inelastic?
The supply of labor can be elastic if the labor requires very little expertise or training. Meaning picking up a day laborer to do the job doesn't require any time wasted or money wasted. If the laborer requires training or education then the labor could be inelastic meaning time and money will be lost waiting for the new laborer to become trained.
What are Examples of product that has a Declining demand?
radio
Different states of demand?
Negative demand No demand Latent demand Declining demand Irregular demand Full demand Overfull demand Unwholesome demand
Best example of declining demand of product?
Packaged drinking water. People have begun to prefer tap water as it is more environment friendly
How do you explain What are the types of demand?
Negative demand nonexistent demand latent demand declining demand Irregular demand full demand overfull demand unwholesome demand
How do you explain remarketing?
all kinds of objects, services, places, activities organizations and ideas eventually experience FALTERING DEMAND or DECLINING DEMAND.
What is declining demand?
at the end of summer
What is example of full demand?
current demand of mobile phone set can be an example of Full demand.
What is the example of remarketing?
Starting a new cycle for a declining product or service.
Is the tertiary sector declining?
no, the tertiary sector is certainly not declining, in fact, it is growing at a great rate due to the higher demands for goods, therefore, tertiary sectors need to provide my services to secure this demand. :)
Example of law of demand?
marketing is a great example of law of demand
What is declining seriously?
Declining seriously means falling fast. Example: Retailers report that this year's Christmas/Holiday profits have declined seriously compared to last year.
What is the example of unwholesome demand?
Unwholesome demand is the desire for something that is not suitable or healthy. An example of unwholesome demand would be alcohol for the person who is an alcoholic.
