The event should be presented in the financial statements as follows:
1. The assets side of the balance sheet will be reduced by 75%, with its accompanying accumulated depreciation.
2. The bonded liability on the balance sheet is eliminated by the relevant amount.
3. The journal entry should debit the Bonded Liability and accumulated depreciation, while the assets worth 75% are credited.
4. If the bonded indebtedness is more than 75% of the assets, the company records a profit on disposal on the income statement. Otherwise, it records a loss. If they are equal, there is no profit or loss.
Thus, the difference between the debit and credit entries constitutes either profit or loss on disposal.
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Some of the advantages of sole proprietorship
1. efficient decision making, by owner only
2. easy to set up, minimal cost, minimal fuss
3. low fixed cost (overhead), could be a home-office
I might have missed others, you could figure them out from the options
Answer:
C
Explanation:
An organizational suitability statement for employees points out the reasons why the organization think their experience and skills are suitable for the position they are applying for in the organisation.
A suitability statement, known as a personal statement, shows a summary of the key skills and experience you possess for a given job
Thus Orbiton Computer's failure can be attributed to the lack of organizational suitability meaning the employees are not suitable and dont have the required skills for this job. They need to find the adequate skills for the job.
Answer:
PV= $1,173.44
Explanation:
Giving the following information:
your tenant has agreed to pay $150 per month. There are eight months left on the lease, the appropriate interest rate is 6%, compounded monthly.
<u>To calculate the net present value, first, we need to calculate the final value and then use the present value formula.</u>
FV= {A*[(1+i)^n-1]}/i
A= annual pay= 150
i=0.06/12= 0.005
n=8
FV= {140[(1.005^8)-1]}/0.005= 1,221.21
Now, we calculate the present value:
PV= FV/(1+i)^n
PV= 1,221.21/1.005^8= $1,173.44
Based on the description above, it is an example called automated retailing. This is being described as a self-service category in which individuals are likely to buy products from a machine that sells products in a way that they reach the customers in a more innovative and a non-traditional technique that makes it more appealing to the public.
