Answer:
The correct answer is option B.
Explanation:
The Cost of Property is given at $ 216,000
.
The MACRS rates are 0.2, 0.32 and 0.192 for years 1 to 3 respectively.
Depreciation for the year 1 will be
= $216,000*0.2
= $43,200
Depreciation for the year 2 will be
=$216,000*0.32
=$69,120
Total Depreciation for the year 1 and 2 will be
=$43,200+$69,120
=$112,320
The book value of this equipment at the end of year 2
=$216,000-$112,320
=$103,680
On checking the above value with Answer B that is
=$216,000*(1-0.2-0.32)
=$216,000*0.48
=$103,680
Answer:
A credit balance of $3 comma 200
Explanation:
When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are
;
Debit Cash account
Credit Unearned fees or deferred revenue.
As the service is performed and the revenue is earned,
Debit Unearned fees
Credit Revenue.
Total amount collected in advance as at end of February
= $3,000 + $4,000 + $700
= $7,700 (Cr in Unearned revenue)
Amount of revenue earned as at end of February
= $4,500 (Dr in Unearned revenue)
Balance in in Unearned Revenue at the end of February
=$7,700 - $4,500
= $3,200
Technician B not all trans have drain plugs
Answer:
The correct answer is letter "A": scenario building.
Explanation:
Scenario building refers to the efforts companies make to scheme adverse situations that could arise in the future and link the consequences of those events with the way it could affect the operations of the firm. Scenario building is part of the strategic planning of the company.
Organizations cannot predict exactly what will happen in the future but they can set contingency plans to be ready in front of different situations that could arise.
