Answer: 4. The expenses incurred during a period are matched with the revenues that those expenses generated.
Explanation:
The accrual basis of accounting works by matching accounting transactions to the period that they occur in. For instance, if revenue is sold in year 1 but the cash for it is only received in year 2, the revenue will be recorded for year 1.
The matching principle falls under the accrual basis and matches the expenses in a period to the revenue that the expenses generated in that same period. This is why the expenses in the income statement are only those that occurred in the current period and expenses for future periods are put in the balance sheet.
Answer:
$20000
Explanation:
Given: Total cost of computer system= $50000.
Residual value= $5000.
Useful life= 5 years.
Now, calculating depreciation expense as per double-declining balance method.
⇒ 
⇒ 
∴ 
Hence, $20000 is the depreciation expense for first year as per double-declining balance method.
In accounting, the formula for common-size percent is (Amount / Base amount) * 100.
<h3>What is a common size income statement?</h3>
This is a financial statement where every line item are expressed as a percentage of the value of sales in other to make analysis easier.
In this analysis, the percentage of the base is the ratio of the line item versus the total amount.
Thus, the formula for common-size percent is (Amount / Base amount) * 100.
Read more about common size statement
<em>brainly.com/question/15174156</em>
I think the answer is D. i’m not really sure but i’m sorry if it is wrong
