Answer:
The owner's equity amounts to $1,040,000
Explanation:
The formula to compute the owner's equity is as:
Owner's equity = Assets - Liabilities
Where
Assets = Land + Machinery + Cash
= $1,500,000 + $30,000 + $10,000
= $1,500,000 + $40,000
= $1,540,000
Liabilities = Loan
= $500,000
Putting the values above in the formula:
= $1,540,000 - $500,000
= $1,040,000
<span>When you buy a bond, you're lending your money to a company or a government (the bond issuer) for a set period of time (the term). The term can be anywhere from a year or less to as long as 30 years. In return, the issuer pays you interest. On the date the bond becomes due (the maturity date), the issuer is supposed to pay back the face value of the bond to you in full.</span>
Answer:
d. All of these are correct.
Explanation:
The UCC are a set of guidelines that deals with contracts involving sale of goods. It settles disputes that occur during such transactions.
Section 2-201 of the UCC deals with statute of fraud.
Contract for a sale of goods is not enforceable unlesss there is some written contract of sale by the party against who enforcement is sought or his official agent.
This document also a written signature of the party against whom enforcement is sought, and a written indication of the quantity sold.
Answer:
roll down the window and brake it if you cant roll it down
Explanation:
Answer:
The estimated amount of depreciation expense is $1,500
Explanation:
Depreciation means a permanently and continuous diminution in value or quaof a tangible non-current asset. Depreciation occurs over several years. Every year a non-current asset is used, the price of that asset reduces drastically. There are various methods used to solve the rate of depreciation. There is the straight line method and reducing balance method. The question requires to be solved using the straight line method.
The formula for solving depreciation using a straight line method is ; (Cost less Estimated scrap value) ÷ Number of expected years of use.
Replacing with figures, we have: ($8,000 - $500) ÷ 5 years = $1,500. Therefore, $1,500 is our estimated amount of depreciation expense.
