Answer:
The answer is $36,000
Explanation:
First we need to determine the rate to be used.
To determine the rate:
100percent/8 years
12.5%
Double rate is 12.5% x 2
=25%. This is the rate to be used.
Cost of the truck is $48,000
First year depreciation is:
25% x $48,000
So first year depreciation is $12,000
Book value of the truck at the end of year 1 is $48,000 - $12,000
=$36,000
Answer:
Our company will recognize the loss on its next statement date.
Explanation:
The exchange rate between two currencies is the rate at which one can be exchanged for the other during trade.
The stronger a currency the less of it will be involved in the exchange, while the weaker the currency the more of it will be required in the exchange.
In this instance the transaction is Euro based. When the payable was incured the rate was $1.2 to €1.
Now the rate has increased to $1,27 per €1. This implies that the company will lose 1.20 - 1.27= -$0.07 per every Euro.
This loss will be recorded on the next statement date.
Answer:
e. None of the above
300 customers per week
Explanation:
The computation of weekly capacity of the cashier operation is shown below:-
4 Cashiers managed to deliver 40 customers an hour production to the beggars.
So, for 1 cashier the capacity will be 10 customers per hour.
Now, in a week of 5 days and 6 hours per day,
we have a total of 30 hours
The one single cashier the capacity will be
Capacity =Total hours × Customer per hour
30 × 10
= 300 customers per week
Therefore option is not available
Answer:
The correct answer is Debit Cash and Credit Noted Payable
Explanation:
The journal entry for borrowing the cash is as follows:
Cash A/c.......................Dr $7,500
Notes Payable A/c.......Cr $7,500
As Jarrett company borrowed the amount of $7,500, so cash is increasing and any increase in asset account will be debited. Therefore, the cash account is debited. Whereas he signed a notes payable against the cash so notes payable account is credited.