Answer:
1. are called real accounts
Explanation:
Balance sheet accounts are the real account and these accounts do not close and balances of these accounts accumulated and carried forward to next accounting period. These balance represents the net accumulated values of all the past years. These accounts are also affected by the all the adjustments. Every transaction ultimately effect any of the balance sheet account.
Answer: 17,000
Explanation: nothing dont take my answer i guessed
Answer: True
Explanation:
An Oligopolistic market is one where the suppliers are very few in number. Cooperation is indeed difficult in such markets as they are motivated by self-interest to try to make more profits than their competitors.
This usually leads to an undesirable outcome. For instance, if two oligopolistic firms agree on a price to sell goods, one of them might decide to sell at a lower price in order to gain more market share. This will cause the other firm to reduce its prices as well which means that both companies would be worse off than when they started.
Answer:
a. Fuel Interest on company-issued bonds FIXED
b. Shipping charges VARIABLE
c. Payments for raw materials VARIABLE
d. Real estate taxes FIXED
e. Executive salaries FIXED
f. Insurance premiums FIXED
g. Wage payments VARIABLE
h. Depreciation and obsolescence charges FIXED
i. Sales taxes VARIABLE
j. Rental payments on leased office machinery FIXED
Explanation:
Fixed costs are the cost of an organization that don´t change with the amount of production. So , if the production is 0, this cost will exist anyway. For example: real estate taxes, rental
Answer: The depreciation expense that will be recorded for the furniture for the first year ended December 31 is $825.
Explanation: Straight-line mwthod of depreciation is:
(Acquisition value minus salvage value) / No of years
Per the question, the acquistion value of the new furniture is $19,000 while the salvage value is $2,500. The number of years is 5 years.
Then yearly depreciation would be <u>($19,000 - $2,500) / 5 years = $3,300</u>.
Note that the furniture was purchased on September 30. To arrive at the depreciation expense that will be recorded as at December 31, you need to pro rate the yearly depreciation of $3,300.
September 30 to Decemer 31 is 3 months. <u>So the total depreciation expense will be $3,300 * 3 / 12 = $825.</u>
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