Answer:
$12,000
Explanation:
According to the accrual accounting method, the reporting of the transactions should be performed on an accrual basis which means whether or not the payment is paid but it is reported in the account books.
The revenue should be recorded when it is earned or realized and the expenses are recorded when it is incurred
So, in the given scenario, the amount based on accrual basis sales would be
= Goliath sold goods to customers on account + Goliath also sold goods to customers for cash
= $10,000 + $2,000
= $12,000
Answer:
Paying your credit card bill in full and on time every month.
Explanation:
The other choices will most likely prompt a fee to be charged.
If the legal reserve ratio falls from 25 percent to 10 percent, excess reserves of this single bank will rise by $6,000 and the monetary multiplier will increase from 4 to 10. The correct answer is D.
Answer:
$4,330
Explanation:
the amount that needs to be depreciated = purchase price - residual value = $193,000 - $19,800 = $173,200
depreciation per year using straight line method = $173,200 / 10 = $17,320
depreciation per month = $17,320 / 12 = $1,443.33 per month
we must record 3 months of depreciation expense = 3 months x $1,443.33 per month = $4,330
December 31, 2021
Dr Depreciation expense 4,330
Cr Accumulated depreciation - machinery 4,330
Answer:
B) Make new loan totaling about $10 million.
Explanation:
