Answer:
d. Net income is overstated and assets are overstated
Explanation:
The journal entry to record the depreciation expense is shown below:
Depreciation expense A/c Dr
To Accumulated depreciation A/c
(Being the depreciation expense is recorded)
But if depreciation is failed to record, then the net income is overstated and assets are overstated as the accumulated depreciation decrease the cash balance and The net income overstated represents the understated in an expense account
Answer:
$101,495.20
Explanation:
The comparable property value with compound interest
The formula for calculating future compound values
FV = PV × (1+r)n
In this case:
PV = 98,500
r =0.3% the interest rate per month
n = 10 compound periods
FV = 98,500 x (1+ 0.3/100)10
=98,500 x (1.003)10
=98,500 x 1.030408
=$101,495.20
A) empirical classification.
B) genetic classification.
C) combined classification.
Hope this help u :)
Answer:
$142,000
Explanation:
Sales of 22,000 units
Total variable costs is $99,000
The fixed cost is 30,000
Operating income $36,000
Therefore budgeted amount for 20,000 units can be calculated as follows
= 99,000+30,000+36,000
= 156,000
The selling percentage is
=156,000/22,000
= 7.1
7.1× 20,000
= 142,000
Hence the bugected anou t for 30,000 units $142,000
