Answer: See explanation
Explanation:
The quart is the same as one quarter of a gallon and it is used for measuring liquid. The gallon is also a unit of measurement for liquid as well.
In converting 5 quarts to gallons, we should note that:
1 quart = 1/4 gallon
5 quarts = 1/4 × 5 = 1.25 gallon
Answer: The authorization of funds for the museum is an example of an earmark.
Explanation:
Earmarking is the act of setting aside particular fund for a specific purpose.
In the United States, earmarks are directive from the Congress that funds should be allocated and spent on certain projects.
For example, one can say the prime minister has earmarked three billion dollars for the construction of new hospitals. The expenditure on the funding of the public art museum is an earmark.
Answer:
$54,000
Explanation:
For computation of Depreciation Expense for the year ending 31 Dec first we need to compute the depreciation under straight line method for the year which is shown below:-
Depreciation under straight line method for the year = (Cost - Residual value) ÷ Estimated useful life
= ($600,000 - $60,000) ÷ 10
= $540,000 ÷ 10
= $54,000
Depreciation expenses = (Depreciation under straight line method for the year ÷ 12) × From Jan 1 to Dec 31
= ($54,000 ÷ 12) × 12
= $4,500 × 12
= $54,000
Answer:
Cash inflows for the year is $14,369.00
Explanation:
Cash inflows in year comprise of the cash revenue and the portion on revenue on account(accounts receivable), received in the course of the year.
Cash revenue=$7,682
Cash collections in respect of accounts receivable= $6,687
Cash inflows during the year=$7,682+$6,687=$14,369.00
The balance yet to be collected and expected to be collected in year 2 is the difference between the cash collections and total accounts receivable
balance of accounts receivable =$12,117-$6,687=$5,430.00
