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Who determines how long buildings and the furniture and equipment are to last?

Who determines how long buildings and the furniture and equipment are to last? What if asset depreciation would change from 5% and 10% to 4% and 8%? What would the effect on net income?

Who determines the dollar amount for allowance for bad debts?

What if Allowance for Bad Debts was reduced to $1000. What would the effect on net income?

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Who determines how long buildings and the furniture and equipment are to last? What if asset depreciation would change from 5% and 10% to 4% and 8%? What would the effect on net income?

The accounting life of buildings and furniture and equipment are usually determined by the depreciation duration. Number of years = 1 / annual depreciation rate.
In the US, it could be decided by Modified Accelerated Cost Recovery System (MACRS). ...

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