Answer:
$6,000
Explanation:
Since it is stated in the question that "Typically, the credit card bill is paid in full in the following month", it implies that cash will be disbursed in October for purchases of goods made in September, while cash will be disbursed in November for purchases of goods made in October.
Based on this, Lambert's expected cash disbursement in October for purchases of goods made in September is $6,000, while his expected cash disbursement in November for purchases of goods (a new computer) made in October is $4,500.
Answer:
$3,000 and $9,000
Explanation:
In the income statement only four months revenue is recorded i.e from September 1 to December 31
= $9,000 × 4 months ÷ 12 months
= $3,000
And, under the operating activities the whole amount i.e $9,000 is to be recorded and added to the net income as it is inflow of cash and the same is added using the direct method of the cash flow statements
Answer:
Annual depreciation= $10,000
Explanation:
Giving the following information:
The total acquisition cost was $33,000. The machine has an estimated useful life of 3 years and a salvage value of $3,000.
To calculate the depreciation expense under the straight-line method, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (33,000 - 3,000)/3
Annual depreciation= $10,000
Answer:
An epidemic is contained to a region, and a pandemic is global.
Thank you.
BY GERALD GREAT.
The machine's annual depreciation costs are calculated by dividing the machine's purchase price by its installation cost over a 5-year period:Depreciation costs equal (10,700,000 + 56,000) / Number of Years divided by five, or $2,151,200.
The value of a fixed asset less the total accumulated depreciation that has been recorded against it is its depreciated cost. The total amount of capital that is "used up" in a certain time frame, such as a fiscal year, is referred to as the depreciated cost in a broader economic sense. The accuracy with which depreciation is calculated allows one to assess patterns in a company's capital expenditures and how aggressive its accounting practices are. The terms "salvage value," "net book value," and "adjusted cost base" are all synonyms for "depreciated cost." Businesses and private individuals can calculate an asset's useful worth using the depreciated cost technique of asset appraisal.
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