Answer:
Sorry , didn't mean to tap this
Explanation:
Answer:
78000 - 123 + 23 + 123 + 123 + 244 + hundred thousand 112 100000/30 94014 49202 124000 33066 70 the answer there are 4 subject in the assignment not not 45 subject in assignment 1039 4000 - 100 thousand how the answer
Answer:
d. book value at beginning of year x 2/estimated service life
Explanation:
Duble Declining method of depreciation is a method in which the depreciation is being charged at double rate than in the straight line depreciation method method do. It uses the double amount of carrying book value and estimated useful life. The depreciation charged at a faster rate.
Formula:
Depreciation = Book value of asset at the start of year x 2 / useful life
Answer:
stockholer's equity will be overstated by $800.
Explanation:
The adjustment required is to record $800 of supplies used as an expense, hence, by carrying out the adjustment, net income is overstated by $800 so also retained earnings and shareholders' equity.
In other words,the balance that would be left in supplies is opening balance of $200 plus purchase of supplies which is $950 minus the supplies used.
balance of supplies=$200+$950-$800=$350
Option B is wrong the balance expected is $350 and the balance without adjustment is $200,that is $150 understatement not $350
Answer: c. To reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period.
Explanation:
Closing entries are the journal entries that are made at the end of an accounting period in order to be able to transfer temporary accounts to the permanent accounts.
The primary purpose of closing entries is to reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period.
Therefore, the correct option is C.
