Answer:
Annual depreciation= $4,300
Explanation:
Giving the following information:
Purchasing price= $27,600
Salvage value= $1,800
Useful life= 6 years
To calculate the depreciation expense using the straight-line method, we need the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (27,600 - 1,800) / 6= $4,300
Answer:
b. All collections for sales are received immediately upon making the sales.
Explanation:
Internal control, regarded as a process used in assuring objective of an organization in operational effectiveness as well as efficiency and reliable financial reporting, it is also used in assuring of compliance with laws as well as regulations and policies. Generally, internal control can be described as everything which is able to controls risks to an organization. It is a way the
resources of an organization are been
measured as well as been directed and monitored.
It should be noted that Internal control procedures for cash receipts require that:.
✓Custody over cash is kept separate from its recordkeeping.
✓Clerks having access to cash in a cash register should not have access to the register tape or file.
✓An employee with no access to cash receipts should compare the total cash recorded by the register with the record of cash receipts reported by the cashier.
✓Cash sales should be recorded on a cash register at the time of each sale
<span>The Constitution makes it clear that the Congress, rather than the President of the United States, has power to assign</span>
Answer: the correct answer is A) If real property is involved in the sale, the broker (Alison, in this case) usually treats the sale of the business and sale of the land/building as two separate and concurrent transactions with two concurrent and contingent escrows.
Explanation:
The sale of business opportunities may involve the sale of only personal property.
Alison, in dealing with the sale of business opportunities, must remember to inform the purchaser of the various governmental agencies that the purchaser should contact for required permits, licenses, and clearances. These agencies include the IRS, State Board of Equalization, State Department of Benefit Payments, State Department of Industrial Relations, and various other county and municipal agencies.
The sale of a business opportunity includes the business's stock, trade fixtures, and trade name, a competition agreement, and lease assignment. While such a sale also includes the goodwill of a business, a monetary value cannot be placed on the goodwill.
Steel-frame construction relies on the creation of a sound foundation to sustain the weight of the building, because without that all our buildings we have now would suffer from erosion causing the building to shift or even collapse.;
