Answer and Explanation:
The capital expenditure is the expenditure which is held for a capital asset i.e fixed assets for improving life, production, etc. It is a one-time expenditure
While on the other hand the revenue expenditure is the expenditure which is incurred on daily basis i.e frequently like repairs, maintenance
So based on the above, the classification is as follows
a. Capital expenditure
b. Revenue expenditure
c. Revenue expenditure
d. Capital expenditure
Answer:
(C) Accounts payable $5,800 ,
Purchases discounts $116,
Cash $5,684
Explanation:
- The first entry to the accounting system at the moment of the purchases, the company record the invoice by the full amount without discount.
Purchases $5,800 Debit
Accounts Payable $5,800 Credit
- The condition of payment it's 2/10, n/30, which means that if the payment it's made before the first 10 days of the invoice date the discount applied.
As the invoice was issued on September 12 and the payment was made on September 18 the entry is as follow:
Accounts Payable $5,800 Debit
Purchases Discounts $116 Credit
Cash $5,684 Credit
Supply and demand play a huge part in the value of someting for a consumer. When there is a low supply of an item and the item is in high demand, the value you seems to go up for a consumer because they have to have it. The want for an item that may not always be there is what brings value to the consumer and in some cases, have them purchase the item just because of the chance of it running out. When there is a large supply of an item, the value may not be as much to a consumer because they think they can purchase the item whenever they want.
It all depends on the subject(s) that you will teach and at what level you will teach.
Answer:
Don executes a will leaving half of his farm to his spouse Elsie and the rest to his sons, Frank and Greg, in equal shares. The will disinherits a third son, Hal. Don and Elsie divorce, but Don dies before changing his will. Under the Uniform Probate Code:
c. Frank and Greg receive the entire estate in equal shares.
Explanation:
- Uniform Probate Code is applicable in almost 18 states of the United States that was developed to standardize the laws of wills, trusts, and intestacy.
- The option a is not correct as Elsie can't get the half of the farm as Don and Elsie were divorced.
- The option b is also incorrect as Elsie can't get the half of farm as well as Hal will not get the share.
- The option c is correct as it is in accordance with Uniform Probate Code.
- The option d is incorrect as state can't inherits the entire estate in the presence of heirs.
