Answer:FALSE
Explanation: Accumulated depreciation is a negative account (contra-account) which Describes the total depreciation amount allotted to an asset since it is put into use. Accumulated depreciation is not added to the balance of the long lived asset in the balance sheet.
When an organization prepares it's balance sheet,it ensures that the depreciation schedule is recorded for all it's assets ensuring that both the cost of the equipment and it's depreciation is documented accordingly. Accumulated depreciation reduces the value of the assets in the balance sheet when added.
Answer:
Year 1 PV = 91,743.12
Year 2 PV =126,251.99
Year 3 PV = 154,436.70
Explanation:
<em>The present value of future sum is the amount that ought to be invested today at interest rate compounded annually to equal the sum at the end of a particular period.</em>
The present value of a future sum is given as follows:
PV = FV × PV (1+r)^(-n)
PV - present value
FV - Future value
r- interest rate
n- number of years
Year 1 PV = 100,000× 1.09^(-1) =91,743.12
Year 2 PV = 150,000× 1.09^(-2) =126,251.99
Year 3 PV = 200,000× 1.09^(-3) = 154,436.70
Answer:
The correct answer are D, E and F
Explanation:
Current liabilities are the short-term obligations of the company or the business which are due within the period of one year or within a operating cycle. An operating cycle states the cash conversion cycle, which is the time taken by the company to purchase the inventory and then convert the inventory into cash through sales.
The items which can be classified as Current Liabilities are portion of the long term note which is due in 1 month, wages payable due in 7 days and portion of the long term note which is due in 10 months.
