Answer:
Dr Cash 11,000
Dr Accumulated Depreciation-Equipment 20,000
Equipment 31,000
Explanation:
Preparation of the Journal entry to record the disposition of the equipment
Since we were told that Lewis Company sold
the equipment for the amount of $11,000 in which the Accumulated Depreciation on the equipment to the date of disposal was the amount of $20,000 this means the journal entry to record the disposition of the equipment will be :
Dr Cash 11,000
Dr Accumulated Depreciation-Equipment 20,000
Equipment 31,000
(20,000+11,000)
Answer:
The answer is b
Explanation:
Demand for money is the situation in which money are held in cash form without spending it. The demand for money is a derived demand in the sense that people do not spend all their salaries when they receive it at the end of the month. The portion of their salaries which they do not spent immediately they are received is what we referred to as the demand for money. There are three reasons for holding money which are
Transaction motive :This is the desire to keep money in order to meet the day to day transaction of business such as buying of foodstuff and to meet other family need .
Precautionary motive : This is the desire to keep money in order to meet the unforseen circumstances which are not planned for but which immediately occur, such as sickness, unexpected visitors, breakdown of one's car,
Speculative motive :This is the desire to keep money with the hope of using the money in making quick money. It is a money held with the hope of giving it out in form of loan if the interest is high and at a short period of time.for instance purchasing shares at a lower prices and re-selling it at higher prices .it also includes buying goods at a lower prices and re-selling at a higher prices for example cars.
Answer:
indirect
Explanation:
The indirect method adjusts net income to find net cash provided by operating activities.
The credit balance in the accumulated depreciation account represent: <span> the amount of depreciation taken in past years
In accounting, we must reduce the value every year we held an asset in order to show the true amount of the total asset values. This occurence is called a depreciation. If the amount of depreciation is add-up for several years, this account is called accumulated depreciation
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Answer:
Authorities can be assigned, but never delegated obligations. Subordinates are responsible for "results" and managers are responsible for their subordinates ' actions. You can't be held responsible for a mission if you have little competence.
Explanation:
The delegation lets you pass the power to professional team members to work on more urgent matters. But you are still responsible for doing these in the right way. It is therefore necessary to periodically track the status or interact with the team member
Let us recognize some of the fundamental principles to be observed in delegating: 1. The delegated authority to subordinates should be adequate to achieve the desired performance.
2. The power may be delegated but never assigned responsibility. Subordinate accountability is "efficiency" and managers are "responsible for their subordinates ' activities."
3. A duty can not be held accountable if it only has limited authority. A balance between authority and responsibility must be created.
4. A single superior's presence brings to mind the subordinate more personally responsible.
