Answer:
$740,200
Explanation:
Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.
It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset
Mathematically,
Depreciation = (Cost - Salvage value)/Estimated useful life
Depreciation = (900,000 - 101,000)/5
= $159,800
Book value is the cost net accumulated depreciation
= $900,000 - $159,800
= $740,200
Answer:
Unearned membership revenue of $9,000
Explanation:
The sales on credit during January 2017 was valued at $12,000 ($200 x 60).
In March 2017, customers paid $3,000, leaving the balance of $9,000 outstanding.
Since the season for which sales and collections were made starts March 1, 2017, when reporting the financial statements for the period ending March 31, 2017, the Membership Revenue would be $3,000 only and the balance $9,000 would be reported as Unearned Membership Revenue in the Balance Sheet with a further $9,000 reported in the Accounts Receivable to balance the records.
This shows that Unearned Membership Revenue of $9,000 is the only valid statement.
Answer:
The correct answer is letter "B": Decreasing your stocks and increasing your bonds.
Explanation:
Target-date funds are pools of assets employees with a 401(k) retirement account can access. <em>Target-date funds consider stocks as riskier assets than bonds</em>, thus, more stocks than bonds are included in the fund of the employee at first. However, <em>as soon as the date when the employee is to retire approaches, the fund automatically lowers the number of stocks in the employee's account to include more bonds</em>, which are safer securities.
Answer:
Expenses, Losses, Income and Gains are associated with nominal accounts.
