Answer:
It is $30,000(C)
Explanation:
Depreciable cost = $90,000
Using straight-line method,
Annual depreciation = $90,000/3
= $30,000.
Hence, depreciation expense at the final year of service is $30,000
We cannot make use of entire cost of equipment of $120,000 because it seemed the company wanted to sell its scrap value for $30,000. Hence, this has been used to reduced it cost to $90,000 which is a depreciable cost .
Answer:
16. A 17. B
Explanation:
16. A budget for revenue and expenses shows estimated earnings and estimated costs. It is different from a capital expenditure budget, which shows which assets you are going to invest into for the long term.
17. Budgeting should be done prudently. One should understate when it comes to income and overstate when it comes to expenses, so as to not get losses in the future. It is better to make more profit then have more losses in the future
Answer:
C. Credits Checking account, Debits Undeposited Funds.
Explanation: QuickBooks is a small business accounting software program businesses use to manage income and expenses and keep track of the financial health of their business. You can use it to invoice customers, pay bills, generate reports, and prepare for taxes.
Answer:
A)
i) Size( x ) ( measured in ft^2 )
ii) Price ( y ) ( measured in dollars )
B) unit of slope = dollar per square foot
C) slope will be positive
Explanation:
A) The variables and units in this regression are
i) Size( x ) ( measured in ft^2 )
ii) Price ( y ) ( measured in dollars )
<u>B) Units of the slope </u>
unit of slope = dollar per square foot (i.e. y / x )
C) The slope will be positive given that the increase of home size is directly proportional to the increase in price
Answer:
Net Income is $65,000.
Explanation:
According to given data
Revenue = $120,000
Expenses = $55,000
Net Income = Revenue - Expesnes
Net Income = $120,000 - $55,000
Net Income = $65,000
Net Income is $65,000.
As net income is calculated using Revnue and Expenses, In the presence of this data we will not consider thae value from the balance sheet.
