Answer:
Option B
Explanation:
Depreciation refers to an accounting tradition that enables a firm to compose off the worth of an asset throughout an amount of time, generally the beneficial life of the investment.
Assets like equipment and appliances are costly. Instead of recognizing the asset's full cost in the first year one, depreciating the asset helps businesses to distribute the burden and generate income from it.
Thus, depreciation relates to decrease in value of an asset so that expenses can be recorded efficiently and revenue could be computed as per the periods. Therefore, the method of depreciation should be chosen as per its revenue contribution to the entity using it.
No, there is not any requirement of recording when the fair value of bonds decreases to $6000000 on December 31 of the current year.
Given that Starbucks purchased bonds with $ 7 million face value at par for cash on July 1 of the current year and the bonds pay 7 percent interest the following June 30 and December 31 and mature in three years.
We are required to tell whether there is requirement of any recording when the fair value of bonds decreases to $6000000 on December 31 of the current year.
A bond is basically a debt security, similar to an IOU and borrowers issue bonds to raise money from investors willing to lend them money for a certain amount of time. When we buy a bond, we are lending to the issuer, which may be a government, municipality, or corporation.
There is not any requirement of any recording when the fair value decreases to $600000 because it is not affecting our books of accounts because in our books they are recorded at face values.
Hence there is not any requirement of recording when the fair value of bonds decreases to $6000000 on December 31 of the current year.
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Answer:
Process.
Explanation:
Since Game Play sells gaming systems and allows customers to mix-and-match individual components when placing a system order. A process facility layout would best serve Game Play's production needs.
A process facility layout can be defined as the strategic approach or plan which typically involves having the workflow around the production unit.
Generally, in a process facility layout, employees who are having similar job functions or roles are usually grouped together and as such productions are done in phases.
<em>Hence, a customer with preferences to individual components would use a process facility layout. </em>
Answer:
$2,100
Explanation:
Cash Available = Opening Balance + Receipts - Disbursements - Desired Balance
= $15,000 +$89,600 - $72,500 - $30,000
= $2,100
Therefore,
The excess of cash available over disbursements for the month would be $2,100
Ava's total itemized deduction related to these items is $6,194.
Total Itemized Deduction:
Home office expenses: $3,240
Union dues and work uniforms $1,080
Unreimbursed employee expenses $1,512
Less: 2%of AGI ($51,900×2%) ($1,038)
$4,794
Gambling losses to the extent of gambling winnings $1,400
Total Itemized Deduction $6,194
($4,794+$1,400)
Inconclusion the total itemized deduction related to these items is $6,194.
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