Answer:
attached answer
Explanation:
equity represnet investment from owners and the accumulation of the result from the company operations.
1) equity increase the company receive an investment from owner
3-6-8) equity decrease as an expense is incurred which is a negative operation it has a negative impact on the earnings of the firm
4-5-9) the company's equity increase as income is generated from the main activity.
2-7)there is no involment of equity as the company acquired an asset and takes a liability while then, at payment an asset(cash) decrease an a liability( A/P) also decrease
We must remember that we work with accrual accounting thus, the day of collection or payment are not what determinates ncome and expenses.
Answer:
The answer is a. The company is operating in a pure competition.
Explanation:
The other options are incorrect. Decentralisation of power has only a little to do with the geographical location and with the number of employees.
Besides, the employees must be accountable for the responsibilities they take.
However, when the competition is severe, decentralisation is useful as it motivates people and increase the creativity and the decision making capacity of the individuals.
Answer:
Present value of annuity = PV(8%,40,-200,0,0)
Present value of annuity = $2,384.93
Present value of Perpetuity = 200/ 8%
Present value of Perpetuity = 200 / 0.08
Present value of Perpetuity = 2500
The difference between the Present value = $2,500 - $2,384.93 = $115.07
However, both does not equal as time value has to be considered.
In a case whereby George corporation recognized $1,000 of accrued property taxes on its manufacturing facility. the journal entry to record this debits as Manufacturing overhead $1,000 and credits Property taxes payable $1,000.
<h3>What is
journal entry?</h3>
A journal entry can be described as an act of keeping which involves the making records of any transactions .
It should be noted that Transactions are listed in an accounting journal so that the company's debit as well as the credit balances of the company can be shown.
In the case, above , we will record this debits as Manufacturing overhead $1,000 and credits Property taxes payable $1,000, hence journal entry can encompass several recordings, in a debit or a credit.
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