What is the accounting difference between using the modified approach for infrastructure assets and depreciating infrastructure assets?
Question:
What is the accounting difference between using the modified approach for infrastructure assets and depreciating infrastructure assets? Under the modified approach, what happens if infrastructure assets are not maintained at or above the established condition level?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 28% (7 reviews)
Under the modified approach to accounting for infrastructure assets adjusting entries recognizing de...View the full answer
Answered By
Cyrus Sandoval
I a web and systems developer with a vast array of knowledge in many different front end and back end languages, responsive frameworks, databases, and best code practices. My objective is simply to be the best web developer that i can be and to contribute to the technology industry all that i know and i can do. My skills include:
- Front end languages: css, HTML, Javascript, XML
- Frameworks: Angular, Jquery, Bootstrap, Jasmine, Mocha
- Back End Languages: Java, Javascript, PHP,kotlin
- Databases: MySQL, PostegreSQL, Mongo, Cassandra
- Tools: Atom, Aptana, Eclipse, Android Studio, Notepad++, Netbeans.
Having a degree in Computer Science enabled me to deeply learn most of the things regarding programming, and i believe that my understanding of problem solving and complex algorithms are also skills that have and will continue to contribute to my overall success as a developer.
I’ve worked on countless freelance projects and have been involved with a handful of notable startups. Also while freelancing I was involved in doing other IT tasks requiring the use of computers from working with data, content creation and transcription.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
Question Posted:
Students also viewed these Business questions
-
What is the accounting concept of a business combination?
-
What is the difference between using the modified approach to accounting for infrastructure assets and depreciating infrastructure assets? Under the modified approach, what happens if infrastructure...
-
Using the Modified Approach or Depreciation You are an auditor in a regional public accounting firm that does a large volume of governmental audits and consulting engagements. A large metropolitan...
-
A record company needs to produce 100 gold records at one or more of its three studios. the cost of producing x records at studio 1 is 10 x; the cost of producing y records at studio 2 is 2y 2 ; the...
-
The astronomical unit AU is defined as the mean distance from the Sun to the Earth (1 AU = 1.50 1011 m). Apply Kepler's third law (Equation 12-7) to the solar system, and show that it can be written...
-
Why does investment vary more than consumption from year to year?
-
a. Express \(z_{1} / z_{2}\) in rectangular form. b. Verify that \(\left|z_{1} / z_{2} ight|=\left|z_{1} ight| /\left|z_{2} ight|\). \(\frac{1-j}{2-\frac{1}{2} j}\)
-
Ferdon Watches, Inc., makes four models of watches, Gag-Gift, Commuter, Sport, and Retirement. Ferdon manufactures the watches in four departments: Assembly, Polishing, Special Finishing, and...
-
Assignment - Accounting Cycle Yellow Dog Company (YDC) is wholesale distributor in British Columbia. YDC has a December 31 year- end. The company is planning a major expansion next year that will...
-
CD players are produced on an automated assembly line process. The standard cost of CD players is $150 per unit (labor, $30; materials $70; and overhead, $50). The sales price is $300 per unit. a. To...
-
What are examples of intangible assets held by governments? How are they reported?
-
If a capital project is incomplete at the end of a fiscal year, what happens to Encumbrances and all operating statement accounts at year-end?
-
Rachael's Restaurant, a fast-food restaurant company, operates a chain of restaurants across the nation. Each restaurant employs eight people; one is a manager paid a salary plus a bonus equal to 4...
-
Colleges and universities need to stay current with technologies. Many campuses have adopted laptop programs, where students are expected to purchase or lease a particular model of laptop that will...
-
As price is lowered, quantity supplied ______.
-
The retail market for gasoline is ______. a) local b) regional c) national d) international
-
Each of the following may lead to a change in the demand for product A except _________. a) a change in the price of product A b) a change in peoples taste for product A c) a change in peoples...
-
A shift in the supply curve for gasoline in the United States would result if ______. a) people decided to travel more by automobile b) the OPEC nations decided to stop sales of crude oil to the...
-
British Airways and Virgin Atlantic Airlines discussed fuel surcharges at least six times during an 18-month period from 2005 through 2006. As a result, the two companies fuel surcharges rose in...
-
Using a graphing utility, graph y = cot -1 x.
-
Government-wide Financial Statements. Following is the governmental activities pre-closing trial balance for the Town of Freaz. Freaz is a relatively small town and, as a result, it has only...
-
Converting from Modified Accrual to Accrual Accounting. The Village of Rodale keeps its governmental find accounting records on a modified accrual basis. At the end of the fiscal year, the village...
-
Converting from Modified Accrual to Accrual Accounting. The Village of Rodale keeps its governmental find accounting records on a modified accrual basis. At the end of the fiscal year, the village...
-
2. (20pts) Consider MIPS Instruction Stream: add $s2, St2, $t0 lw $t5, 48($t3) sub $12, $s2, $13 (a) Identify all hazards for the instruction stream. (b) If the instruction stream generates hazards,...
-
Write a C program named as countD.c that takes input text file and a digit as arguments, outputs how many times the digit appears in the file. If the text file does not exist, print out an error...
-
Create a simple "web-app" that we created using client-side HTML form, come up with our very own (custom-built) JS calculator. One possible "look and feel" is shown below in attached screen-shot (CSS...
Study smarter with the SolutionInn App