Ursula Tax Planning Service Has the Following Plant Assets: Communications

question 144

Multiple Choice

Ursula Tax Planning Service has the following plant assets: Communications equipment: Cost, $6,720 with useful life of 8 years; Furniture: Cost, $18,000 with useful life of 12 years; and Computer: Cost, $12,000 with useful life of 4 years. Assume the salvage value of all the assets is zero and the straight-line method is used. Ursula's monthly depreciation journal entry will include a:

• A)debit to Depreciation Expense of $5,340.
• B)credit to Depreciation Expense of $5,340.
• C)debit to Accumulated Depreciation of $445.
• D)credit to Accumulated Depreciation of $445.

Identify and describe different geological features influenced by continental hot spots.

Recognize the processes involved in the formation and evolution of continental hot spots.

Differentiate between continental hot spots and other geological processes such as continental rifting and seafloor spreading.

Describe how hot spots contribute to the formation of various terrains and their geological significance.

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Definitions:

Highest Rating

The top tier or grade assigned by rating agencies to entities or securities, indicating the lowest risk of default.

Bid Price

The highest price a buyer is willing to pay for an asset in the financial markets.

Dealer

An individual or firm in the financial markets that stands ready to buy or sell securities for their own account, at their own risk.

Security

A financial instrument that represents an ownership position in a publicly-traded corporation (stock), a creditor relationship with governmental body or a corporation (bond), or rights to ownership as represented by an option.