Answer:
$1,066.67
Explanation:
Using straight line method, depreciation expense is constant throughout the life of an asset.
Depreciation is calculated as seen below;
Depreciation = Cost of asset - Residual value
= $18,200 - $2,200
= $16,000
Depreciation rate = 1/5 × 100
= 20 percent
Depreciation per year = 20/100 × 16,000
= $3,200
During the year 1, the van operated for four months (Sept, Oct, Nov and Dec)
Depreciation for the four months = 4/12 × 3,200
= $1,066
Answer: $1,063,000
Explanation:
Net realizable value is the value of an asset that a company will get when the asset is sold minus the cost that came with the asset sales.
The net realizable value of the accounts receivable will be the accounts receivable of $1,100,000 minus the allowance for uncollectible accounts which was given as $37,000.
= $1,100,000 - $37,000
= $1,063,000
currency? or money. It seems quite vague. Each country calls its currency in various ways.
Answer:
3 to 5 years
Explanation:
Strategic planning is the management activity of the business or the firm which is used in order to set the priorities, resources, focus energy, strengthen the operations, that ensure that the employees and the stakeholders are working toward a common motive or a goal.
Under this planning, managers considered the firm as a aggregate unit and ask themselves that what must be done for the long term, which is generally, three to five years, because the long term involves the long period or year of time that seeks the long term solutions.
Answer:
personal finance and Financial literacy gives an advantage to exploit the financial products available nowadays and to manage the resources of a single person or a family in the best way possible to achieve their goals.