Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
$4,455
Explanation:
The computation of total decrease in earnings (pretax) in Morris Dec. 31, 2021, income statement is given below:-
Interest expense upto 31 Dec 2021 = (Total present value of lease payment - Lease payment on July 1, 2021) × 6% × 6 ÷ 12
= ($58,500 - $7,500) × 6% × 6 ÷ 12
= $51,000 × 6% × 6 ÷ 12
= $1,530
Depreciation expense upto 31 Dec 2021 = Fair value of equipment ÷ Useful life × 6 ÷ 12
= $58,500 ÷ 10 × 6 ÷ 12
= $5,850 × 6 ÷ 12
= $2,925
So, the total decrease in earnings (pretax) in Morris Dec. 31, 2021, income statement = Interest expense upto 31 Dec 2021 + Depreciation expense upto 31 Dec 2021
= $1,530 + $2,925
= $4,455
Answer: True
Explanation:
Proper planning without control is futile, this is because a blue print may have been put in place in the planning process but it becomes imperative for management to set up institutions or machineries to ensure that plans are executed as expected and there are remedial actions or plans in place in the event when unexpected events come up to distort achievement of the goal.
Proper control leads to achievement of organizational goals.
Answer: Integrity
Explanation: Integrity in Sales is valuable trait which is being consistently honest, trustworthy and dependable with everything you say or do.People especially Sales men and women who show integrity tend to pull others to them because they are honest, trustworthy and dependable.
You can always vouch on them to behave in credible ways at all times. They are so principled about their performance. They are the best kind of workforce you want in your team.
Answer:
D. $4,960
Explanation:
Given cash balance = 4300
Receivable collection = 850
Bank charge = 20
NSF check = 170
Thus,
Adjusted bool balance = Cash balance + receivable collection- bank charge - NSF check
Therefore,
= 4300 + 850 - 20 - 170
= $4,960
So, adjusted cash balance = $4960
