Answer & Explanation:
The carrying value of the company is $3000 ($23000 - $20000) and the amount paid is $700 for the exchange of a truck worth $5700. The entry for such an exchange will be:
Dr Truck- Accumuated Depreciation $20000
Dr New Truck (Balancing amount) $3700
Cr Asset Cost $23000
Cr Cash Paid $700
So the new value that must be recognized as asset value in the Statement of Financial Position for the year is $3700.
So the option C is correct.
Answer:
Fayolism
Explanation:
Based on the information provided within the question it seems that the management of Mason Mills reflects the ideas and principles of Fayolism. This is a management theory developed by Henri Fayol, which states 14 principles explaining how management should communicate and lead their workers. Many of which state the importance of organization within the business in order for workers to know who to report to and keep everything running efficiently.
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It's when the Recycle Bin or Trash is emptied :3
Answer: Ask for a higher interest rate
Explanation:
The best way to offset the risk is to ask for a higher interest rate which is more than the five percent that is proposed by my neighbor.
Even though I want to invest in her catering business, her lack of experience in the catering business is of concern to me, hence, I've to settle for a higher percentage than the percentage which she proposed.
The Correct answer is $14,579
n= 5 years adjusted for monthly payment.
n=5*12
n=60
r= 12% adjusted for monthly payment
r = 0.12 / 12
r = 0.01
LLoan = $20,000
We must first determine the monthly payment:
A = P (A/P, 1%, 60)
A = $20,000 * 0.0222
A = $444
We know that after the 20 payments, 40 payments are remaining.
P = $444 * (P/A, 1%, 40)
Based on the compounding table, if i = 1% then (P/A, 1%, 40) = 32.8346
P = $444 * 32.8346
P = $14,578.56
P = $14,579
Learn more about compound interest here
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