Question: please answer both questions in 10 min thanks Bramble Corp. owns the following assets: Asset Cost Salvage Estimated Useful Life A $417000 $44000 10 years

please answer both questions in 10 min thanks  please answer both questions in 10 min thanks Bramble Corp. owns
the following assets: Asset Cost Salvage Estimated Useful Life A $417000 $44000

Bramble Corp. owns the following assets: Asset Cost Salvage Estimated Useful Life A $417000 $44000 10 years B 228000 23000 5 years 491000 23000 12 years What is the composite depreciation rate of Bramble's assets? 14.0% 10.3% 12.9% 11.2% When an asset being depreciated under the group method is disposed of, any resulting gain or loss is: recorded in the Accumulated Depreciation account. recorded in the Depreciation Expense account. recorded as an ordinary gain. recorded as an extraordinary gain

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!