Answer:
Mercantilism
Explanation:
Mercantilism refers to the economic nationalism designed to create a wealthy and strong state. Adam Smith named the phrase "market system" to define the political science scheme that attempted to enhance the nation through disciplining imports and promoting exports.
Throughout the sixteenth century, the most crucial financial reason for mercantilism has been the replacement of the colonial-era major power centers by big, powerful nation-states. Thus, from the above we can conclude that the correct option is mercantilism.
To
determine what the depreciation of an asset using straight line method, the
formula to be used is:
(Initial
cost of machine – salvage value) divided by estimated useful life
So in
this problem:
Initial Cost
- $135000
Salvage
Value – $15000
Estimated
Useful Life – 5 years
Plug that
in the formula
Annual
depreciation = ($135000 - $15000) / 5
= $120000/
5
= $24,000
The first
year depreciation for the machine is $24000 because the company bought it in
the beginning of the year. (So there is no need to divide this by 12 months)
To record
this:
Depreciation
Expense $24000
<span> Accumulated Depreciation $24000</span>
Answer:
20%
Explanation:
Public Limited Companies pay Corporation tax rates, currently set at 20%, on their taxable profits. There are also tax-deductible costs and allowances that can be offset against the company profits for even greater tax savings.
Answer:
The first 3 transactions only.
Explanation:
Accrual basis of accounting requires that expenses and revenue are recognized in the books as soon as they are incurred and earned respectively.
The cash basis required that transactions of expenses and revenue be recognized only when cash has been paid and received respectively.
Considering the transactions using cash-basis accounting,
1. Pay employees' salaries for the current period- Yes an expense will be recognized.
2. Pay rent in advance - Yes an expense will be recognized for the full amount paid.
3. Pay dividends to stockholders in the current period - Yes an expense will be recognized for the full amount paid.
4. Receive (but do not pay) a utility bill - No, this will be recognized when cash is paid
5. Use supplies previously purchased - This would have been recognized previously. No
Answer:
Specific Measurable Attainable Realistic Time-Bound