Answer:
Decrease its total net income by $18,000.
1,244 but ima follow so 1,245
Answer:
d. $704,000
Explanation:
The computation of the cash payment for merchandise is shown below:
= Opening balance of accounts payable + purchase made - closing balance of accounts payable
where,
Purchase = Cost of goods sold + closing balance of inventory - opening balance of inventory
= $720,000 + $188,000 - $200,000
= $708,000
The other items values would remain the same
Now put these values to the above formula
So, the value would equal to
= $80,000 + $708,000 - $84,000
= $704,000
Answer:
Depreciation Expense = $5800
Explanation:
As per the data given in the question,
Initial cost = $52,800
Freight cost = $300
Non-refundable tax = $6,400
Installation = $500
Estimated residual value = $2,000
Rate = 10%
So total cost of assets = $52,800 + $300 + $6,400 + $500
= $60,000
As per the following formula,
The straight line depreciation expense = (Cost- Residual value) × Straight line depreciation rate
=($60,000 - $2,000) × 10%
=$58,000 × 10%
=$5,800
