Answer:
$81,020
Explanation:
The cost of the asset includes the cost of purchase less any given discount or tax returns and the addition of other cost incurred in making the asset available for use.
As such, the cost of the machine
= $77,000 - (5% * $77,000) + $2,000 + $4,520 + $1,350
= $81,020
The routine maintenance cost is not a part of the asset but an expense in p/l.
It is important to understand that the styles describe different aspects of applications. For example, some architectural styles describe deployment patterns, some describe structure and design issues, and others describe communication factors. Therefore, a typical application will usually use a combination of more than one of the styles described in this chapter.
Can’t see it, it’s really blurry!
Answer:
Software solutions was hired to install and update software.
When job was completed,
Total revenue paid by Jones company = $1,800
As of December 31,
software installation completed = 1/2
Service revenue = 0.5 × $1,800
= $900
Therefore, the adjusted journal entry for the revenue is as follows:
On 31st December,
Accounts receivable A/c Dr. $900
To Service revenue $900
(To record revenue earned)
Answer: Items 2, 3, 4, 6, 7, and 8
Explanation:
The M2 definition of money includes M1 money and then some other types of instruments that are quite highly liquid and so can be converted to liquid cash quickly if needed.
M2 includes:
2. Noncheckable savings deposits
3. Currency (coins and paper money) in circulation
4. Small-denominated (less than $100,000) time deposits
6. Checkable deposits
7. Money market deposit accounts
8. Money market mutual fund balances held by individuals
