Answer:
$136,000
Explanation:
Purchase price of new boiler = $120,000
Carrying amount of old boiler = $10,000
Fair value of old boiler = $4,000
Installation cost of new boiler = $16,000
The selling cost of old boiler = $4,000
Now,
Capitalized cost of the new boiler
= Purchase price of the new boiler + Installation cost the new boiler
= $120,000 + $16,000
= $136,000
Somewhat true, they dont want someone who doesnt pay attention to their surroundings but they also dont want people who focus too much on their co workers rather than doing their jobs.
Answer:
Debit Unearned Revenue $5,480
Credit Revenue $5,480
Explanation:
On December 31, 6 months has been passed so, the revenue of 6 months should be recorded as the payment was recorded as unearned revenue on July 1. The revenue account will be credited by the 6 months revenue amount and unearned revenue account will be debited to reduce the amount by the six month accrual.
Total Unearned revenue = $10,960
Unearned revenue per month = $10,960 / 12 = $913.33
revenue for six months = 913.33 x 6 = $5,480
A corporation type of business that is a legal entity formed by following a process of incorporation set forth by state statutes.
A corporation is a legal entity this is separate and wonderful from its owners. Under the regulation, organizations own a number of the equal rights and duties as people. They can enter contracts, mortgage and borrow money, sue and be sued, lease employees, own assets, and pay taxes.
The right prison definition of a agency differs from jurisdiction to jurisdiction, but the corporation's maximum essential function is always limited liability. This means that shareholders may participate within the earnings via dividends and stock appreciation but aren't personally liable for the company's debts.
Learn more about Corporation here:-
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Answer:
Temporary – revenues, expenses, dividends (or withdrawals) account. These account balances do not roll over into the next period after closing. The closing process reduces revenue, expense, and dividends account balances (temporary accounts) to zero so they are ready to receive data for the next accounting period.
Explanation: