Answer:
Option C Credit to Unearned Management Fees for $62,000
Explanation:
The reason is that the unearned managment fees are liabilities and so are credit in nature just like other liabilities. It is also the requirement of accrual accounting system that says the revenue and expenses must only be recorded when they are realized. Which means the revenue share for example which is $1000 must be recorded as revenue when we will deliver our customers services of one month. It doesn't matter if the revenue amount is not received in cash. So delivering your share is compulsory here to recognize sales or services.
Answer:
The new bus is rolling stock asset
depreciation is $8,000
Explanation:
Rolling stock asset in the U.S is a conveyance vehicle such a buses,vans ,locomotives,ferryboats and so on.
annual depreciation =(cost-salvage value)/useful life
cost of the new bus is $95,000
salvage value is $15,000
useful life is 10 years
yearly depreciation charge =($95,000-$15,000)/10 years
=$8,000
Note that the $10,000 trade-in value is relevant when computing the cash payable to the car dealer,it is not deducted here since it forms part of asset cost.
Answer: The <em>false </em>statement is letter b.) PABA serves as the competitive inhibitor in the action of sulfanilamides.
Explanation: <em>Sulfanilamides, </em> correspond to antimetabolites which are synthetic compunds that resemble metabolites. In this case sulfanilamide resembles the metabolite PABA in structure, which is the one responsible for metabolizing folic acid. In this case it is sulfanilamide that serves as a competitive inhibitor and not the way around. However it is not the PABA metabolite that is affected directed in the process, sulfanilamide serves as the inhibitor of the enzyme <em>dihydropteroate synthetase </em>which serves as catalyzer for PABA.
Answer:
Date Received Present Value Value in 1 Year Value In 2 Years
today $1,000 $1,050 $1,102.50
in 1 year $952.38 $1,000 $1,050
in 2 years $907.03 $952.38 $1,000
The present value of the gift is <u>LOWER (BY $45.35)</u> if you get engaged in two years than it is if you get engaged in one year.
Explanation:
to determine future value:
future value = present value x (1 + interest rate)ⁿ
to determine present value:
present value = future value / (1 + interest rate)ⁿ
