Answer:
The required annual installment payment is $4067.25.
Explanation:
annual installment = (20000×6%)/(1 - (1 + 6%)^6)
= $4067.25
Therefore, the required annual installment payment is $4067.25.
The correct answer is side streets.
If you are in a hurry, it may be better to take a different route and drive through side streets in order to avoid the traffic which is usually present in the more 'popular streets.' However, side streets have a lot of traffic control lights, which may slow down your ride even more.
The following that most strongly implied by this information is that at the current level of production, the firm is making a profit of $3000. Jake and Mathew will most likely agree on The firm should increase production from the current level. Mathew is assuming that no new firms enter the market in the short run.
Answer: Closing entries: <u>" must be journalized and posted ".</u>
Explanation: Closing entries are those registrations that are ALWAYS made at the end of an accounting period because it cancels the balance of all temporary accounts to transfer them to permanent accounts.
Temporary accounts are profit and loss accounts, so the result of the year is determined in this way.
Answer:
B. $0
Explanation:
The International Financial Reporting Standards (IFRS) specifically Internal Accounting Standards (IAS) 18 on revenue specifically states that where there is a barter transaction that is the exchange of goods or services, the transaction will not be recognized as one generating revenue when the goods or the services being exchanged are similar in nature. If it is not recognized as a revenue generating transaction then no revenue will be recognized as well
Since Kelly Corp barters goods with Ace Corporation established to be similar in nature , then according to IFRS Kelly cannot recognize any income on the transaction.