Each establishment, whether small or big, government-owned or private companies, always have to backup their files in case of emergencies. As you make your backup plan, you must come across these five basic key questions:
1. Are you backing up all your data? You have to sort your files to be backed up because storage can be limited.
2. How often is your data backed up? You must make sure to back up your data on a regular basis, if not day-to-day.
3. Who is responsible for your backups? For big companies, it is too big of a task for one person to shoulder. Usually, this is tackled by a department, usually the I.T. Department.
4. Do your backups actually work? You should test regularly if these back ups actually work by restoring data files every now and then.
5. Do you have right backup checks and balances in place? The I.T Department tackling backup plans is one thing. But there should also be checks and balances so that you have a backup of your backup. It's better to be safe than sorry.
The machine's second year depreciation expense is $3,200.
Depreciation is a method that is used to expense the cost of an asset. The units-of-production depreciation method determines the depreciation expense based on the units of goods that the machine produces in a given year.
Unit of production depreciation expense = (unit of goods produced in year 2 / total units the machine can produce) x (cost of the asset - salvage value)
Total units the machine can produce = 1500 + 1250 + 1000 = 3750
(1000 / 3750) x ($15,000 - $3,000) = $3,200
A similar question was answered here: brainly.com/question/15858628?referrer=searchResults
Answer:
The correct solution is "
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Explanation:
According to the question,
Let,
For stock 1,
The number of shares to be purchased will be "
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For stock 2,
The number of shares to be purchased will be "
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For stock 3,
The number of shares to be purchased will be "
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then,
The cumulative number of shares throughout stock 1 would be well over or equivalent towards the approximate amount of all the shares or stocks for the set limit.
i.e., 
Thus the correct equation is "
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Answer:
The journal entry is shown below:
Explanation:
The journal entry is as follows
On January 15
Accounts receivable $5,356
To Note receivable $5,200
To Interest revenue $26
To Interest receivable $130
(Being cash received in respect of note receivable, interest accrual is recorded)
The computation of interest receivable is shown below:
= Principal × rate of interest × number of days ÷ (total number of days in a year)
= $5,200 × 12% × (75 days ÷ 360 days)
= $130
The 75 days is counted from October 17 to December 31
And, the total amount is
= Principal × rate of interest × number of days ÷ (total number of days in a year)
= $5,200 × 12% × (90 days ÷ 360 days)
= $156
Answer:
The correct cash balance that should be reported in Mooner Sooner's balance sheet at the end of the year is $5,800.
Explanation:
For adjusting the bank statement balance do not consider note collected by the bank, service fee and NSF check returned. Note collected by the banks are already recorded in the bank passbook, so there is no adjustments are needed in the bank statement. Service charge is deducted by the bank, so service charge also recorded in bank passbook; hence no adjustments are required in the bank statement balance. In the case of NSF check returned no adjustments are needed in the bank statement balance.
correct bank balance = Bank balance + Deposits outstanding - Checks outstanding
= $9,000 + $4,600 - $7,800
= $5,800
MAKE SURE YOU AVOID THIS:
For calculating correct cash balance only checks outstanding and deposits outstanding are adjusted with bank balance. For getting correct cash balances add deposit outstanding to the balance as per the bank and minus outstanding checks. Deposit in transit amount must be added to the bank side of the bank reconciliation statement and outstanding check must be deducted from the bank side of the bank reconciliation statement. Here, bank balance is $9,000, checks outstanding are $7,800 and deposits outstanding is $4,600, hence correct cash balance is $5,800.
Therefore, The correct cash balance that should be reported in Mooner Sooner's balance sheet at the end of the year is $5,800.
