Answer:
Depreciation expense for 2021 will be $14700
Explanation:
The straight line method charges a constant depreciation expense each period throughout the useful life of the asset. The depreciation expense per period under the straight line method is calculated as follows,
Depreciation expense = (Cost - Residual value) / Useful life of the asset
Depreciation expense = (81000 - 7500) / 5
Depreciation expense = $14700
Answer:
E). Cash 5,194
Sales discounts 106
Accounts receivable 5,300
Explanation:
Preparation of the journal entry that Vander makes on September 18
Preparation of the journal entries made that Vander made earlier
Sep. 12
Dr Accounts receivable 5800
Cr Sales revenue 5800
(Being to record sales on account)
Sep. 14
Dr Sales returns and allowances 500
Cr Accounts receivable 500
(Being to record sales returns)
Preparation of the Journal entry that Vander makes on September 18
Sep. 18
Dr Cash 5194
[($5,800 -$500)- $106]
Cr Sales discount 106
[($5,800-$500) - (2% x $5,300)]
Cr Accounts receivable 5,300
($5,800 - $500)
(Being to record collection on account)
Answer:
The correct answer is (d) when you have a small, experienced team assigned to work on the project
.
Explanation:
Agile project management is a project management methodology that is defined by its signature iterative and incremental approach to achieving requirements throughout the project life cycle. Its particularly suited for small dynamic projects and relies heavily on teamwork.
Traditional project management is a project methodology that emphasizes on a sequential predetermined approach to the project life cycle. The procedures to be followed throughout every phase of the project's life is already laid out. Changes to the laid down plan are not anticipated.This project management style is preferred for larger projects.
In conclusion,when you have a small, experienced team assigned to work on the project then you should utilize the agile project management style. Since the team is small, they are more suited to handle a smaller or medium project and will have to rely more on their teamwork to ensure project success. A traditional project management approach would require a bigger team whose experience wouldn't add any substantial edge since the project plan is already laid out. Additionally, a traditional project management approach is inherently personnel intensive, whereas the available personnel is smaller.
He will be debiting accounts payable and crediting notes payable. According to the concept of accounting, a liability will be gained if it is recorded as a credit and will be lessened if the liability is debited. In this situation, the accounts payable will be lessened and will be replaced by a notes payable instead. So in order to lessen the accounts payable, you have to debit it. Of course you will also be gaining a notes payable. You can do this be crediting the notes payable.
