Answer: The answer is D $300 computer, $240 oven
Explanation:
According to IRS tables on the calculation of depreciation on computer and oven, it is estimated that an asset such as computer will have a depreciation useful life of 5 years
Therefore since computer cost and printer = $1,500, useful life = 5 year
Cost ÷ useful life
= 1,500 ÷ 5
= $300
For oven since the cost =$1,200, useful life = 5years
Cost ÷ useful life
= 1,200 ÷ 5
= $240
Answer: Heyaa! :)
→ income not spent, or deferred consumption. Methods of saving include putting money aside in
- <em>Checking Account</em>
Offers easy access to your money for your daily needs ←
<em>The main difference between checking and savings accounts is that </em>checking accounts actually used on the daily <em>while</em> savings accounts are primarily for saving money.
Hopefully this helps <em>you !</em>
- Matthew ~~
Increasing the reserve requirement is a powerful ANTI INFLATION weapon that reduces the overall supply of money.
In order to reduce the amount of money in an economy, the federal reserve can increase the reserve requirements of the commercial banks in the economy. This will reduce the amount of money that the banks can give out as loan and this will work to prevent inflation.
Answer:
a. $1,000 will be recognized as service revenue using the cash basis.
b. $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.
Explanation:
Given that as of the end of the year, Peaceful Home has collected $ 1,000 from cash-paying customers while Peaceful Home 's remaining customers owe the business $ 1,400.
Revenue to be recognized using;
$1,000 will be recognized as service revenue using the cash basis.
On accrual basis, revenue is recognized when the service has been provided irrespective of whether cash has been collected or not.
A total of $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.
