Nooooo
i would take it back or even sue if it was that bad
Answer: A) Fair value of the asset(s) given up.
Explanation:
Non-monetary exchange occurs when non-financial assets are exchanged in a transaction. Recording this transaction is based on the fair value of the assets exchanged and the recording is usually done in one of 3 ways being,
1. At the fair value of the asset transferred in exchange for it with a gain or loss on the exchange being recorded.
2. At the fair value of the asset received, if the fair value of this asset is more evident than the fair value of the asset transferred in exchange for it.
3. At the recorded amount of the surrendered asset, if no fair values are determinable or the transaction has no commercial substance.
If you need any clarification do comment.
Answer:
Explanation:
Formula to be used is Future value of annuity, FVA = Annuity*{[(1+i)^n -1}/i;
i - interest rate; in this case i=5%
n - number of years; in this case n=10
Annuity = 12*80 =960, the yearly amount reduced from spending
So FVA = 960*{[(1+0.05)^10 - 1]}/0.05 = 960*0.62889/0.05 = 960*12.5778 =
= 12,074.68
So the future value of these savings is 12,074.68
Answer: Assets = Liabilities + Stockholders Equity.
Explanation: Assets refers to the resources owned by a firm for operating its business. Equity refers to the amount of fund invested in the business by the shareholders and liabilities are the obligations of the business.
Thus, it is assumed that every asset that an organisation owns is either purchased by the funds that belongs to the shareholders or on credit by taking liabilities into account.
Hence, from the above we can conclude that ,Assets = Liabilities + Stockholders Equity, correctly depicts the accounting equation.
