A liability is something a person or company owes, usually a sum of money. ... In the world of accounting, a financial liability is also an obligation but is more defined by previous business transactions, events, sales, exchange of assets or services, or anything that would provide economic benefit at a later date
Answer:
The correct option is C
Explanation:
Cold site is one of the kind of the location of the business, which is usually worn or used for the proceeding of disaster as a backup while in the disruptive operational in the normal site of the business.
In short, it is stated as an office for the sites which needed or required backup because it have the required equipment, which will resume or direct the operations. But there is problem that it does not happen always or regularly.
So, the one which is a cost site that is very low is the cold site as it does not support the requirements of the quicker recovery.
Answer:
A trade off or it may be D opportunity at the maegin
Answer: 94 DAYS
Explanation: The average time it takes for the business to complete the whole process of making initial cash outflow to produce goods and receiving cash from customers by selling those goods produced is called operating cycle of that business.
formula = number of days of inventory + number of days in accounts receivable
therefore,
operating cycle = 61 days + 33 days = 94 days
Answer:
a
Depreciation Expense $2,112 (debit)
Accumulated Depreciation $2,112 (credit)
b.
Cash $13,860 (debit)
Accumulated Depreciation $13,200 (debit)
Machinery at Cost $26,400 (credit)
Profit and loss $660 (credit)
Explanation:
a.
2021 Depreciation Expense calculation
Depreciation Expense = $3,168 × 8 /12
= $2,112
Therefore total accumulated depreciation will be :
Accumulated depreciation = $11,088 + $2,112
= $13,200
b.
The following happen when the asset is sold :
- Derecognize the cost of asset
- Derecognize the accumulated depreciation of the asset
- Recognize the proceeds from sale
- Recognize the profit or loss on the sale of the asset.
