Answer:
Credit card float is the difference in time between the date of purchase and date when the payment is due.
Credit card Float = 54 days
Explanation:
The purchase date is the 1st January but the has only reflected on the credit card on the 3rd but date of purchase remains the 1st.
This is exactly like in depreciation 'available for use date' and 'date of use'
available for use is used to calculate depreciation, so we start on the purchase date.
on the date when payment is due
we have 25th of Feb and the 23rd of Feb the date of payment
we take 23rd the date of payment
just like in assets if an asset has a useful life of 3 years and is sold in the two years the only depreciation or accumulated depreciation we reflect is for the years before it is sold.
Therefore the float period is between 1 jan and 23 feb = 54days
Answer:
A general lien is one placed against any and all real and personal property owned by a particular debtor. An example is an inheritance tax lien placed against all property owned by the heir. A specific lien attaches to a single item of real or personal property, and does not affect other property owned by the debtor.
Explanation:
Answer:
c. Dividends
Explanation:
Whenever, dividends are recorded as a liability then that amount is charged against retained earnings, but the final entry for payment of dividend =
Dividend A/c Dr. $670
To Cash A/c. $670
Also at the time of recording as an expense, entry will be
Retained Earnings A/c Dr. $670
To Dividend A/c $670
Since retained earning balance will be reduced and finally cash balance will also be reduced.
Therefore, entry for payment will include debit to
c. Dividends
The home depot's return on assets is 19.05%
The home depot's return on assets is 8.05% better than the 11% return of lowe's
What is return on assets?
The return on on assets means the net income of Home Depot as percentage of the average total assets, in other words, the return on assets is the net income divided average total assets , not sales revenue, which is applicable to profit margin
return on assets=net income/average total assets
net income=8 billion
average total assets=42 billion
return on assets=8 billion/42 billion
return on assets=19.05%
difference in return on assets=19.05%-11
difference in return on assets=8.05%
The home depot's return on assets is 8.05% better than the 11% return of lowe's
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