Accounting is the backbone of the financial market, so be prepared to answer questions about your technical experience and detail-oriented work ethic. Employers may ask you to answer an analytical accounting question, tell a story that highlights your Excel skills, or solve a math brain teaser. As you move up in accounting, be aware that employers often expect more advanced degrees, which may include a Masters or CPA (Certified Public Accountant) certification.
You buy machinary for $10,000. It has a useful life of 5yrs and $5,000 salvage value. What is your depreciation expense
Again this is a detailed answer, you will not need to provide all this detail- This question is just testing to see if you know how to do straight line depreciation- =($10,000-5,000)/5 =$1,000 depreciation expense per year Journal entry for each yr: Debit: Depreciation expense- $1,000 Credit: Accumulated Depreciation- $1,000
Excellent! Very helpful and detailed! thanks so much!