Answer:
Decrease in Bank balance and increase in fixed assets
Explanation:
When a new depreciable asset is purchased, the money leaves the bank account hence reducing the bank balance in the statement of financial position, and on the other hand the 'Fixed asset' balance will rise by the same amount; recognizing the addition to the assets of the company. In this scenario the balance sheet totals remain unchanged as the same amount has been subtracted from 'bank' and added to 'fixed assets' all within the asset side.
However, if the asset is debt financed, it will increase the long term liability figure because 'bank loan' will be recognized. Hence the totals of the balance sheet will rise by the amount of the loan on the 'Capital and liabilities' side and the amount of the asset on the 'Asset' side.
Another impact is that the amount of depreciation charged to the Income Statement will be higher than $2,946,667 which was charged in the previous year because the new asset's depreciation will have to be added.
Answer:
false
Explanation:
command economy is the same as a planned economy where the prices and incomes are decided and fixed by the central government
Hello there,
A typical cost of a retirement would be the following:
Perhaps the "Car of the year".
Smaller House/Smaller apartment.
Hope this helps.
~Jurgen
The statement above about gap analysis is: True.
<h3>What is Gap Analysis?</h3>
Gap Analysis is a measurement that an entrepreneur makes when he compares his present performance with that which he desires to achieve.
He evaluates the time money and resources spent on projects to know if they are fully optimized.
So, the statement above is right.
Learn more about gap analysis here:
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If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794, this error be treated on the bank reconciliation--- Subtract $45 from the book balance.
What is bank reconciliation?
Bank Reconciliation is an important process in accounting in which organizations match their bank statements with the transactions that are recorded in their general ledger. Preparing a bank reconciliation statement helps businesses to eliminate possible errors in transactions or bookkeeping
What is the journal entry for bank reconciliation?
The journal entries for the bank fees would debit Bank Service Charges and credit Cash. The journal entry for a customer's check that was returned due to insufficient funds will debit Accounts Receivable and will credit Cash.
Learn more about bank reconciliation :
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