Answer:
No
Explanation:
Suzie's situation isn't workable because she is meant to be under the direct supervision of her broker no matter what her personal preference for independence.
This is because should anything go wrong in any of her dealings, the brokers's license will be revoked. This means that the broker is directly responsible and accountable for her actions and as such must ensure that she is present at the office at all times.
Cheers.
Answer:
$2914
Explanation:
The following steps would be taken to determine the answer
1. Calculate depreciation expense given the initial information
2. calculate the accumulated depreciation by the second year. Accumulated depreciation is sum of depreciation expense
3. subtract the accumulated depreciation from the cost price of the asset. This would give the book value
4. calculate the depreciation expense using the new information and the book value
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
($9,920 - $1240) / 5 = $1736
Accumulated depreciation = 1736 x 2 = $3472
Book value at the beginning of 2021 = 9920 - 3472 = $6448
Depreciation expense in 2021 = (6448 - 620) / 2 = $2914
Answer:
4
Explanation:
4 probability = value of function,. F(3) = P(Y < 3) = 5/12 x. 0. 1. 2 ... The expected value or mean of random variable X is given by. µ = E(X) =.
Answer:
The amount of current assets are $252,000
Explanation:
Current assets: The current assets are those assets who are converted into cash within one year. Like - accounts receivable, cash, inventory, prepaid insurance, etc.
The total amount of the current assets are shown below:
= Accounts receivable + Cash + Inventory + Short-term investments + Prepaid insurance
= $100,000 + $70,000 + $80,000 + $2,000
= $252,000
The other items represent current liabilities, long term liabilities, intangible assets, and the fixed assets so, we do not consider them in the computation part.
Answer:
Debit Insurance expense $10,000
Credit Prepaid Insurance $10,000
Being entries to recognize insurance expense for the period (August to December).
Explanation:
Given;
Insurance policy was purchased on July 10 to run for 3 years.
Cost of policy = $72,000
Start date is August 1st. As at 31 December, the policy should have been amortized for 5 months (August to December)
Monthly depreciation = $72,000/(3 × 12)
= $2,000
Total amortization between August and December = 5 × $2,000
= $10,000
Journal entries
Debit Insurance expense $10,000
Credit Prepaid Insurance $10,000
Being entries to recognize insurance expense for the period (August to December).
