In accounting, the invoice 2/10, n/30 means that the customers has to pay $500 within 30 days. If he can pay earlier, say within 10 days from the date of purchase, a cash discount of 2% is given. If the customer pays on the 9th day, he would only have to pay
500(100% - 2%) = $490
Answer: $14,985
Explanation:
Using the Units-of-Production method means that the asset is depreciated based on how many times it is used.
The formula is;
= ( Cost - Salvage Value)/Total Usage
= (67,600 - 1,000) / 200
= $333 per concert
Equipment depreciates by $333 per concert.
First year has 45 concerts;
= 333 * 45
= $14,985
Although she hates the work, [ Jessica has spent most weekends and the last three summers as a shortorder cook; she has an associate's degree in paralegal studies; she loves to ride and spends every spare minute helping her uncle with his three horses. Now that she's planning to start a business, her best choice would probably be a Riding stable. ]
In short the answer is D. Riding stable
Answer:
the depreciation expense on the equipment will be 1,785 for tax purpose.
Explanation:
We will look into the MACRS (Modified Accelerated Cost Recovery System)
table for a property of seven years placen into service in the 4th quarter:
Which give us 3.57%
now we multiply the basis by the coefficient and get the value for depreciation
50,000 x 3.57% = 1,785 depreciation expense under MACRS
Answer:
$170
Explanation:
Kelly's opportunity cost = ($1,000 x 3%) + ($2,000 x 7%) = $30 + $140 = $170
The opportunity cost is the cost of not choosing an alternative action.
Implicit costs are costs that occur but are not reported as separate costs.
Explicit costs are normal accounting costs.
