Answer: $1392
Explanation:
The depreciation rate under straight line is =1/5=0.2
The depreciation rate under double declining is = 0.2 × 2 = 0.4
Depreciation expense for the first year = 0.4 × $5800 = $2320.
At the beginning of year two, net book value = $5800 - $2320 = $3480
Depreciation expense for year two = 0.4 × $3480 = $1392
Answer: Option (B)
Explanation:
Fiat money is referred to as the currency which tends to have no intrinsic value and thus has been further entrenched as money. This process is often carried out by the federal government. This particular type of money does not tend to have the use of value, and only has the value since the authority i.e. the government tends to maintains its value.
Answer:
Cash Capital
debit credit debit credit
1. 28,600 1. 28,600
2. 2,900
3. 4,300
4. 1,370
5. 1,900
6. 7,200
7. 770
8. 1,660
9. 230
12. 1,500
<u>13. 370 </u>
20,800
Rent expense Vehicles
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2. 2,900 3. 19,000
Notes payable Service revenue
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3. 14,700 6. 7,200
<u>9. 230 </u> <u>11. 4,900 </u>
14,470 12,100
Accounts payable Equipment
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4. 5,700 4. 5,700
8. 1,660
<u>10. 900 </u>
4,940
Supplies Prepaid insurance
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4. 1,370 5. 1,900
Misc. expenses Blueprint services expense
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7. 770 10. 900
Accounts receivable Wages and salaries expense
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11. 4,900 12. 1,500
Vehicle maintenance expenses
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13. 370
Answer:
The answer is letter A.
Explanation:
No, the parties expected the hardship and provided for it in their contract.