Answer:
it would increase
Explanation:
you pay to pay for gas and oil
Answer:
Gain on disposal = $7600
Explanation:
As the machine is sold on 1 April 2024, we first need to update the depreciation expense and charge the depreciation to the date. The depreciation has been charged till 1 December 2023. So, we need to charge the depreciation for three more months.
The formula for depreciation expense under straight line method is,
Depreciation expense per year = (Cost - Salvage value) / Estimated useful life
Depreciation expense per year = (24000 - 0) / 5
Depreciation expense per year = $4800 per year
Depreciation expense for three months = 4800 * 3/12 = $1200
Accumulated depreciation 1 April 2024 = 14400 + 1200 = $15600
To calculate the gain or loss on disposal, we first need to determine the net book value of asset and deduct it from the cash received on disposal.
NBV = Cost - Accumulated depreciation
NBV = 24000 - 15600
NBV = $8400
Gain on disposal = 16000 - 8400
Gain on disposal = $7600
Answer: i. €0.11
ii. €1.08
Explanation:
i. If we get 1 krona for every $0.13 then how many krona do we get per dollar?
= 1/0.13
= 7.69 Krona is to $1
If $1 is 7.69 Krona and $1 is also €0.85 then that means that,
€ 0.85 = 7.69 Krona
So for each Krona exchanged, we get how many Euro,
= 0.85/7.69
= 0.11
For each Krona exchanged, we get €0.11
ii. Following the example of the first question,
if £1 is to $1.12 then how many pounds are a dollar?
= 1/1.12
= 0.89
£0.89 is equal to a dollar.
if €1 is to $1.04 then how many euros are a dollar?
= 1/1.04
= 0.96
€0.96 are equal to a dollar.
This means that,
£0.89 = €0.96
So for every British Pound exchanged we get how many Euros?
= 0.96/0.89
= 1.078
= €1.08
For every British pound Exchanged, we get €1.08
Answer: they will report an interest expense of $150000 in December 2020
Explanation:
firstly we calculate how much interest will be accumulated for the whole year so we are given a $5 million Dollar purchase which is the amount that will accumulate interest over time, then we have been told the company ha issued a 1 year installment note therefore we have a time frame.
so now we will calculate the yearly interest of $5 million :
$5 000000x12% = $600000 so the company will accumulate this interest yearly then we divide this amount by 12 to get the monthly interest.
$600000/12 = $ 50000 per month interest thereafter we will multiply the monthly interest of $50000 by 3 months which is months from October to December.
therefore the interest expense to be reported on the December 2020 income statement is $50000 x 3= $150000
Answer:
it seems kind of inappropriate to have a relationship with a client
Explanation:
