Answer:
balance sheet
liabilities
note payables (current portion) 44,000
non-current liabilities
long-term note payable 178,000
Explanation:
On December 31,2020 there will be a portion of the note that will be declared as current liability while another non-current as within 12-months there is payment due (to be more precise next day after the balance close)
Thus 222,000 - 44,000 = 178,000 long-term
while the 44,000 are declared short-term
Answer:
= $115,559.84
Explanation:
The MACRS represents Modified Accelerated Cost Recovery System and it represents a depreciation method that is accepted for taxation purpose in the United States. The MACRS allows an asset's capitalized cost's recovery over a period of time based on annual deductions.
From the question, the fixed asset was purchased for $139,700
the MACRS rate to use at the end of 4 years = 0.2, 0.32, 0.192 and 0.1152
The accumulated depreciation therefore,
= (0.2+0.32+0.192+0.1152) x $139,700
= $115,559.84
Answer:
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Explanation:
When aggregate demand increases in the classical range of the aggregate supply curve the cost of goods or services tends to evince a corresponding rise.