BuyFind

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
Publisher: Cengage Learning
ISBN: 9781305585447
BuyFind

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
Publisher: Cengage Learning
ISBN: 9781305585447

Solutions

Chapter 17, Problem 1CR
Textbook Problem

The decrease in value from the original cost of a long-term asset over its useful life is known as ______. (17-1)

Expert Solution
To determine

To fill: The blank in the statement “The decrease in value from the original cost of a long-term asset over its useful life is known as _____.”

Answer to Problem 1CR

Solution:

The complete statement is “The decrease in value from the original cost of a long-term asset over its useful life is known as depreciation or depreciation expense.”

Explanation of Solution

The usefulness and productivity of an asset decreases over a certain time.

As a result, the cost of the assets except land decreases as time goes on and coincide with the revenue earned by the asset.

This decrease in value from the original value of an asset over its useful life is known as depreciation or depreciation expense.

Therefore, the complete statement is “the decrease in value from the original cost of a long-term asset over its useful life is known as depreciation or depreciation expense.”

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Chapter 17 Solutions

Contemporary Mathematics for Business & Consumers
Ch. 17.I - Note: Round answers to the nearest cent when...Ch. 17.I - Note: Round answers to the nearest cent when...Ch. 17.I - The Huffy Laundromat purchased new washing...Ch. 17.I - White Mountain Supply Company purchases warehouse...Ch. 17.I - Complete Exercises 11 -16 as they relate to the...Ch. 17.I - Complete Exercises 11 -16 as they relate to the...Ch. 17.I - Complete Exercises 11 -16 as they relate to the...Ch. 17.I - Complete Exercises 11 -16 as they relate to the...Ch. 17.I - Complete Exercises 11 -16 as they relate to the...Ch. 17.I - Complete Exercises 11 -16 as they relate to the...Ch. 17.I - 17. Vanguard Manufacturing, Inc., purchased...Ch. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - Complete Exercises 18-23 as they relate to the...Ch. 17.I - A U-Haul franchise bought new trucks for $180,000....Ch. 17.I - Complete Exercises 25-30 as they relate to the...Ch. 17.I - Complete Exercises 25-30 as they relate to the...Ch. 17.I - Complete Exercises 25-30 as they relate to the...Ch. 17.I - Complete Exercises 25-30 as they relate to the...Ch. 17.I - Complete Exercises 25-30 as they relate to the...Ch. 17.I - Complete Exercises 25-30 as they relate to the...Ch. 17.I - Thunderbird Manufacturing purchased a new stamping...Ch. 17.I - You are the accountant for Raleigh Industries, a...Ch. 17.I - BUSINESS DECISION: REPLACING AN ASSET Supreme Auto...Ch. 17.II - Roadway Trucking purchased and placed into service...Ch. 17.II - The Canmore Mining Company paid $5.330.000 for a...Ch. 17.II - 1. Ink Masters Printing purchased a new printing...Ch. 17.II - Trident Developers purchased a computer system for...Ch. 17.II - Mid-State Construction built roads and a bridge at...Ch. 17.II - Sunny land Orange Groves planted fruit trees...Ch. 17.II - Island Hoppers Airways of Hawaii purchased a new...Ch. 17.II - All-That-Glitters Mining Company paid $49.250.000...Ch. 17.II - 7. Sequoia Timber Company purchased land...Ch. 17.II - BUSINESS DECISION: INTANGIBLE WRITE-OFFS As you...Ch. 17 - 1. The decrease in value from the original cost of...Ch. 17 - The total cost or original____ is the total amount...Ch. 17 - 3. The useful _____ is the length of time an asset...Ch. 17 - ______ depreciation is a method of depreciation...Ch. 17 - 5. Depreciation methods that assume an asset...Ch. 17 - 6. ____ digits is a method of accelerated...Ch. 17 - 7. Write the formula for the sum of the digits of...Ch. 17 - 8. A method of accelerated depreciation that uses...Ch. 17 - Write the formula for the declining-balance rate....Ch. 17 - 10. Write the formula for the depreciation per...Ch. 17 - 11. According to the IRS, the depreciation system...Ch. 17 - The IRS system named in item 11 lists assets in...Ch. 17 - 13. The depreciation of natural resources is known...Ch. 17 - When natural resources are depleted, the average...Ch. 17 - Calculate the total cost, total depreciation, and...Ch. 17 - Calculate the total cost, total depreciation, and...Ch. 17 - Oxford Manufacturing. Inc., purchased new...Ch. 17 - Complete the following as they relate to the...Ch. 17 - Complete the following as they relate to the...Ch. 17 - 6. Mr. Fix-It purchased a service truck for...Ch. 17 - Complete the following as they relate to the...Ch. 17 - Complete the following as they relate to the...Ch. 17 - Award Makers bought a computerized engraving...Ch. 17 - Complete the following as they relate to the...Ch. 17 - Complete the following as they relate to the...Ch. 17 - Screen Gems Movie Theater purchased a new...Ch. 17 - Stone Age Concrete, Inc. MACRS Depreciation...Ch. 17 - The Platinum Touch Mining Company paid $4,000,000...Ch. 17 - In January 2002. Marine Science Corporation was...

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