All categories

3 years ago

Do Public schools, charities and government agencies seek for profit

1 answer:

7 0

Well in order to run the business no matter which type it is there is a need for revenue, not profit, unless it is private. For public school revenue comes from the State and when a local shop sponsor.

You might be interested in

ABC Tax Planning Service started business in January 2018. The company rented an office for $5,400 per month starting from Janua

Sholpan [36]

Answer:

balance in the Prepaid Rent account as of April 30 is $10800

Explanation:

given data

rent office = $5,400 per month

rent paid = 6 month i.e January 1 to June 30

to find out

balance in the Prepaid Rent account as of April 30

solution

we know here that Period Expired till April 30 = 4 months ( January 1 to April 30)

and

so Period Balance = 2 Months ( May 1 to June 30 )

so Prepaid Rent is = Balance Period × Rent per month

Prepaid Rent = 2 × 5,400

Prepaid Rent = $10800

so balance in the Prepaid Rent account as of April 30 is $10800

6 0

3 years ago

The marginal utility from the first three bananas consumed are: 19, 15, and 5 respectively. The marginal utility from the first

MaRussiya [10]

Answer:A pair of sandals.

Explanation:Its so obvious stating that the marginal utility derived from sandals is higher compared to the other two items. You maximize your utility by going for the item with highest satisfaction which is glaringly sandals.

You also maximize your utility by considering the item which is economica prudent to one needs or want.

6 0

3 years ago

Jason Thompson purchase an office building 10 years ago for $780,000. The building was just appraisal $1.25 million. What value

Kamila [148]

Answer:

No adjustment in records can be made until the asset is sold.

Explanation:

This is an example of cost concept. Assets are generally recorded at cost and remain on the accounting records at cost until they are disposed of. Future economic condition may change this appraised value, and therefore no adjustment in records can be made until the asset is sold.

8 0

3 years ago

At the beginning of 2020, the company purchased a machine that had a cost of $300,000, an

Svetlanka [38]

Well it is the toltal of the cost that will be created by it did it and got it correct

3 0

3 years ago

Annual depreciation rates are (a) buildings (4%) (b) equipment (10%). Salvage value is estimated to be 10% of cost.

GrogVix [38]

Answer:

depreciation expense 5,800 debit

acc dep - building 4,320 credit

acc dep - equipment 1,480 credit

<u>Missing information</u>

GRECO RESORT TRIAL BALANCE AUGUST 31, 2014

Buildings 120,000 Equipment 16,000

Explanation:

First, calcualte the depreciable amount:

cost less salvage value:

120,000 - 10% = 120,000 * (1 - 0.1) = 108,000

Now we multiply this by the depreciation rate which represent 1/useful life

108,000 x 4% = 108,000 x 0.04 = 4,320

We do the same with the equipment

16,000* (1 - 0.1) = 14,800 amount subject to depreciation

14,800 * 10% = 14,800 x 0.1 = 1,480

he adjusting entry will debit the depreciation expense and increase the accumulated depreciation of eahc asset

6 0

3 years ago