Answer:
The accounting entry to record the depreciation expense on December 31, 2021 is:
Depreciation Expense - Equipment Debit $ 9,375
Allowance for depreciation Equipment Credit $ 9,375
Explanation:
The data in the question shows that the equipment is depreciated over the estimated useful life of the asset on an even basis, this implies that the method of depreciation is straight line method.
The equipment was purchased on August 01 2021 and the adjusting entry is required on December 31, so the depreciation needs to be recorded for 5 months.
The amount shall be computed by multiplying the monthly depreciation amount with the period
$ 1,875 * 5 months = $ 9,375.
The accounting entry is debited to the depreciation expense account and credited to the allowance for depreciation.
The equipment is shown on the balance sheet date at cost less allowance for depreciation.
Answer:
The correct answer is option b.
Explanation:
An increase in government expenditure will have a smaller effect on the aggregate demand if the MPC is smaller. This happens because the consumers will save the major share of their income and not consume it if MPC is small.
This will not increase consumer spending as much as they should. And thus aggregate demand will increase by a small amount.
The change in aggregate demand will also be smaller if the investment is interest elastic. The government increases spending by borrowing from the loanable funds market.
This increases the demand for loanable funds. The interest rate, as a result, increases. This increase in interest rate makes borrowing costlier for private investors.
This further causes the investment expenditure to increase as much as it should. And thus aggregate demand will increase by a small amount as well.
Answer:
Present Value
Stream A $1,251.247
Stream B $1,300.316
Explanation:
<em>The present value of a future sum is the amount that would be invested today at the prevailing interest rate to have the sum</em>
Stream A
(100 × 1.08^9-1) + (400× 1.08^-2) + (400× 1.08^-3) + (400× 1.08^-4) + (300× 1.08^-5) = $1,251.247
Stream B
(300 × 1.08^9-1) + (400× 1.08^-2) + (400× 1.08^-3) + (400× 1.08^-4) + (100× 1.08^-5) = $1,300.316
Present Value
Stream A $1,251.247
Stream B $1,300.316
Answer:
1. Many people do not trust businesses that sell products online, especially if they are not familiar with the company’s name. Yet they will walk into a new business in their city and shop with little concern. What causes the difference in people’s views of online businesses versus traditional businesses?
The idea of interactive with a non human entity as a computer make people feel acquard as they distrust what are the final intentions of the person behind the e-shop. They also feel fear as ther dont know where they can go to complain about some deal gone wrong.
2. Do you agree with Dontae that it is easier to shop in an actual store in a mall than from the same business online? Why or why not?
No, it is easier to buy online as the person do not need to expend the same time an energy in going and buying from a mall
3. What is your opinion of Jillian’s comparison between entering a credit card number online and handing the card to a clerk who checks it using a telephone line from the store to the credit card company?
I agree, it is the same as buying online, as the clerk could commit a crime as well as the person that is in the telephone.
Chapter 2 Discussion
4. What do you think of Toni’s idea of downloading music for free? Do you think this is legal? How can Toni be sure that she is engaging in legal and ethical behavior when she uses the freemusic site?
Is a good idea and it depends in the type of page you are browsing. If the internet page has a disclaimer saying that the music that is offering is free to download and is legal there is no unethical behavor in it.
Explanation:
Answer:
b) People who operate and function within the control system.
Explanation:
Internal controls are the process and mechanisms that an organization puts in place to ensure the integrity of its accounting and financial information. Internal control helps a business achieve operational efficiency and effectiveness. It ensures that a company financial reporting complies with the relevant laws, policies, and regulations.
The people working in internal control determines whether the mechanisms will succeed or fail. Employees assigned in internal control must be of high integrity and be able to discharge their duties without fear or favor. Internal control protects company resources from theft, wastage, or misuse. For internal control to achieve its purpose, the Individuals in that department must not comprise in any situation.
