The amount of the salvage may be calculated using various equations. We are given that the sound tracker is retired about some time and this was initially bought at $41,000. However, we are given that the accumulated depreciation is also equal to $41,000.
Since the initial payment is similar to the accumulated depreciation hence, the salvage value is zero.
Answer:
A short-run decrease in real GDP.
Explanation:
A short-run decrease in real GDP.
The last option is correct because the prices are inflexible which means an increase or decrease in quantity will have no effect on the prices. So, the negative demand shock( means a sudden decrease in quantity) will not affect the price but it will decrease the real GDP because the demand curve will shift leftwards.
Answer: d. Go to Tom's as soon as possible that day, check the shipment to see if there are any undamaged goods that can be put on the shelf, take a replacement order from Tom's manager, and phone in the order immediately.
Explanation:
This indeed would be the best course of action because some of the goods will be saved while at the same time increasing your company's relationship and profile with Tom's Discount Store.
This is because Tom will be very pleased at the prompt and personal response to the situation and be more receptive towards the solution.
Once the items that are damaged are identified, placing a replacement order immediately is in line with your company's policy of returning goods over $500 if a reciprocal order is placed immediately.
With this course of action, you would endear your company to Tom's Discount store as well as manage to sell the goods in total.
Answer:
Zero
Explanation:
Under the accrual method, revenue is recognized once the recognition criteria is met. These includes;
- the goods have been delivered or the service rendered
- the affiliated cost for such revenue can be reliably measured
When revenue is earned but cash is yet to be received,
Debit Accounts receivable
Credit Revenue account
When cash is received,
Debit Cash account
Credit Accounts receivable.
Since the items were delivered in April, any amount received as revenue in March will be deferred. As such, no revenue will be recognized in the income statement for March.
Answer: True.
Explanation:
The second type of Class A Common Stock is founders shares with superior voting rights to “ordinary” common stock. For example, the Class A Common Stock could get two (or more) votes for every share or could have one or more seats on the company’s board of directors allocated to the founders holding Class A Common Stock