# Accounting

posted by .

She deferred the current year depreciation of \$49,000 to the following year in order to present in higher profit.

My answer is the violation in conservatism bcuz she should calculate the current profit for every year.

## Similar Questions

1. ### accrual basis accounting vs. cash accounting basis

Can someone please check my answers to the following problem. Jack Eagles, a CPA, keeps his accounting records for his practice on the cash basis. During the current year, his clients paid \$750,000 in the accounting and tax fees of …
2. ### Managerial econ 1

1)The Midnight hour, a local nightclub, earned \$100,000 in accounting profit last year. This year the owner, who had invested \$ 1 million in the club, decided to close the club. What can you say about economic profit (and the rate …
3. ### Managerial Economics Question

1)The Midnight hour, a local nightclub, earned \$100,000 in accounting profit last year. This year the owner, who had invested \$ 1 million in the club, decided to close the club. What can you say about economic profit (and the rate …

(DEPRECIATION SCHEDULE E) E.Office furniture for a set of executive suites costs \$12,000.00 and should be replaced after 5-years. The salvage value is \$3,000. Prepare a depreciation schedule using a double-declining balance rate for …
5. ### Profit & Loss

how do i calculate this problem? A and B are in partnership sharing profits and losses in the ratio 3:2 respectively. Profit for the year was \$86,500. The partnersâ€™ capital and current account balance at the beginning of the year:
6. ### math

carlas clothing shop opened eight years ago. the first year she made \$3,000 profit. each year thereafter her profits were about 50% greater than the previous year. how much profit did carla earn during the 18th year of business?
7. ### ACCOUNTING

In your businessâ€™s first year in operation you had sales totaling \$40,000 and collected \$30,000 from your customers. You also incurred \$20,000 in expenses but \$5,000 of them will not be paid until the following year. Calculate your …
8. ### accounting

A company purchased a machine on January 1 of the current year for \$750,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of \$75,000). During …
9. ### math

Asha, Nangila and Cherop contributed shilling 60,000,shilling 85,000 and shilling 105 000 respectively. They agreed to put 25% of the profit back into business each year. They also agreed to put aside 40% of the remaining profit to …
10. ### math

A new computer software company earns a profit of \$245 000 in its first year. The company expects the profit to increase by 15% each year for each subsequent year. (a) What profit can the company expect to earn in its seventh year?

More Similar Questions

Post a New Question