Answer:
Explanation:
The correct journal entry is shown below:
Equipment A/c Dr 700,000
To Accumulated depreciation A/c $420,000
To Retained earnings A/c $280,000
(Being the error is recorded and the remaining balance is credited to the retained earning account)
The depreciation expense would be
= (Original cost - residual value) ÷ (useful life)
= ($700,000 - $0) ÷ (5 years)
= ($700,000) ÷ (5 years)
= $140,000
For three years, the depreciation would be
= $140,000 × 3 years
= $420,000
Some sellers of used cars provide warranties to buyers, with the aim of reassuring buyers that the car is of good quality.
Answer:
Increase of he cost of living VS stagnaition of income
Explanation:
Having a fixed income that is not adjusted by inflation affects the quality of living as year by year the cost of goods and services will rise but the income will remain the same. Therefore it is a matter of time until the income wont be enough to pay all the expenses and costs.
Answer:
The answer is letter D.
Explanation:
Charities. It’s important to note that sometimes private solutions to externalities do not work. For example, this occurs when one party repeatedly holds out for a better deal. This describes the problem of (transaction cost, breakdown in bargaining, property held in common)
Answer:
Answer for the question = the threshold went down by = $9000.
The Tax Cuts and Jobs Act passed in December, 2017, eliminated any personal exemptions ($4,050 per preson) but increased the standard deduction to $12,000 for single filers and $24,000 for joint filers beginning in 2018 compared to $6,350 and $12,700 respectively in 2017. Ignoring any other changes made by the new tax law (and there are other important changes such as expansion of a child tax credit), what would the threshold for having any taxable income for a family of two adults and three dependent children be in 2018 compared to 2017? (Hint: the threshold in 2017 was the standard deduction for a married couple with five personal exemptions. "
explanation is attached .
Explanation: