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4/18/20

[Answer] Which of the following assets is not depreciation?

Answer: Land




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Which of the following assets is not depreciation? Which of the following is not true in regard to selling fixed assets ? a. Accumulated Depreciation will be credited. b. The journal entry is similar to discarding fixed assets . c. The cash receipt is recorded. d. If the selling price is more than the book value a gain is recorded. Which of the following is the depreciation for the 1st year? $4 000 straight-line. Which of the following plant assets is not depreciated? Land for site use. Nash Co. reported a net income for the current year of $120 000 cash flow operating activities of $150 000 total average assets of $1 500 000 and paid dividends of $40 000. ... 3 days ago · Land is the only asset that is not depreciated. Economics teaches us that land is a scarce resource. Therefore land is not depreciated as demand will always outstrip supply. Depreciation is charged so that the true value of the asset is reflected. Assets that are prone to fall in value due to obsolescence war and tear etc are depreciated. Which of the following is not true of depreciation accounting? a. Depreciation lowers the book value of the asset as it ages and its fair value declines. b. Depreciation is a process of cost allocation. c. Tangible assets with limited lives are depreciated. d. Start studying Chapter 8. Learn vocabulary terms and more with flashcards games and other study tools. Search. ... It is legal for a company to use one method of depreciation for tax reporting and a different method for financial reporting purposes. This statement is ... Which of the following is not an ...

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