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klemol [59]
4 years ago
6

Harvard Financial Services purchased computers that are to be used in its consultancy services. Based on the matching principle,

what account, other than Computers, should appear on the balance sheet as of December 31, 2016_______a. Depreciation Expense b. Service Revenue c. Accumulated Depreciation d. Equipment Expense
Business
1 answer:
gladu [14]4 years ago
6 0

Answer:

c. Accumulated Depreciation

Explanation:

The balance sheet is used to show the balance of the assets, liabilities and owners equity at a given period.

When a fixed asset is purchased, it is recognized at cost. As it is used, it is depreciated by debiting the depreciation expense in the income statement and crediting the accumulated depreciation in the balance sheet.

Hence the account other than Computers, that should appear on the balance sheet as of December 31, 2016 is  Accumulated Depreciation

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Lang Warehouses borrowed $196,401 from a bank and signed a note requiring 7 annual payments of $33,942 beginning one year from t
Snezhnost [94]

Answer:

5%

Explanation:

Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested

IRR can be calculated with a financial calculator  

The interest rate implicit in the agreement can be determined by finding the internal rate of return.

Cash flow in year 0 =  $-196,401

Cash flow each year from year 1 to 7 = $33,942

IRR = 5%

To find the IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.  

5 0
3 years ago
The united states and kenya are exploring the possibility of a trade deal. ________ refers to a situation in which a government
Leto [7]

The united states and kenya are exploring the possibility of a trade deal. <u>Free Trade </u>refers to a situation in which a government does not attempt to restrict what its citizens can buy from or sell to another country.

<h3>What is Free Trade?</h3>

A free trade policy is one in which imports and exports are not restricted. It is also known as the free market concept applied to international trade. Most countries now participate in multilateral trade agreements negotiated by the World Trade Organization. Goods and services can be purchased and sold across international borders with little or no government taxes, quotas, subsidies, or bans impeding their interchange under a free trade policy. Trade protectionism and economic isolationism are the polar opposites of free trade.

To learn more about Free Trade from the given link

brainly.com/question/10608502

$SPJ4

5 0
2 years ago
What sources about ecuador should you consult to obtain cultural information about this country that will need to be included in
algol13

 

In order to obtain more cultural information about Ecuador I would consult a websitecalledhttp://geert-hofstede.com.

 

Geert Hofstede is a Dutch social psychologist who is known for his research on different cultures. On his website one can enter a country of choice and will obtain information on that culture’s dimensions (a theory developed my Hofstede). 

3 0
3 years ago
Abba, Inc. has developed the following standards for one of its products: Direct materials - 1/2 pound at $6.00 per pound Direct
Sergeu [11.5K]

Answer:

The answer is $11 per unit.

The standard cost card for this product would show a cost per unit of $11.

Explanation:

The workings are attached.

The formula used is as follows:

<u>Standard cost per unit of a product = direct material per unit + direct labor per unit + variable overhead per unit + fixed overhead per unit.</u>

<u></u>

6 0
3 years ago
Select the qualification that is best demonstrated in each example. Sonny spends a lot of time each day filing paperwork. Vikki
DaniilM [7]

Answer:

1. patience

2. office technology skills

3. verbal communication skills

4. organizational skills

Explanation:

7 0
3 years ago
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