Answer:
FV= $7,435.74
Explanation:
Giving the following information:
Initial investment= $6,400
Interest rate= 1.5%
Number of periods= 10 years
<u>To calculate the value of the account in ten years, we need to use the following formula:</u>
FV= PV*e^(i*n)
FV= 6,400*e^(0.015*10)
FV= $7,435.74
Answer:
a. They must be an integral part of the finished product and be a significant portion of the total product cost.
Explanation:
The Direct material is supply which is consumed during the production of a product. The direct material should be an integral part in the finished good. Consumables are not direct material. To become direct material the raw supplies should be a significant portion of the total cost. There is no direct material in a service business. The finished product should contain the direct material and the material must be an integral part of the final product.
Answer:
the correct option is D) General and administrative expenses.
Explanation:
Expenses that support the overall operations of a business and include the expenses relating to accounting, human resource management, and financial management are called General and administrative expenses.
Additional examples of expenses in this category include rent, advertising, marketing, litigation, travel, meals, management salaries and bonuses.
Answer:
By finding a factor that all have in common: that they are currently in the company and know how it works.
Explanation:
The manual that employees will have aboutthe new accounting system has to be the easiest to ready as possible. As the text mentions, in the company I have experienced accountants and others that are not and employees from different degree levels. Some might understand certain infromation and some might not.
However, what they all have in common is that they are all working in the company and know the current accounting system, because is something that concerns them, even though they have years working them, are new or are not going to last longer.
The best I can do is take advantage of that fact and show them the differences between the old accounting system with the new ones, by that way they will be able to land the information and understand it correctly.
Answer:
$300,000
Explanation:
As per the Internal service revenue (IRS) and Generally accepted accounting principles (GAAP), when the entity who is profit making received any fixed asset as a donation than the same assets should be recorded at the fair value amount
Here the purchase price is $250,000 and the appraisal value i.e. fair value is $300,000
So the amount of donating the land should be recorded at $300,000
