Accrued Net Income will be calculated as below:
Sales $72800
Less Expenses $20400
Cash Income $52400
Less: Depreciation $4900
Add: Accounts Receivable Inc $4500
Less: Reduction in Prepaid Exp $1900
Add: Reduction in Acc Liab $1700
Accrued Income $51800
Depreciation will be reduced as its an expense and all expenses will be reduced.
Increase in Accounts Recievables indicate there have been sales which have not been paid for yet, thus sales will increase and this needs to be added
Reduction in Prepaid Expenses refer to expenses being paid off earlier but now need to be recognised, thus these need to be added to expenses
Reduction in accrued liabilitites indicate that expenses of previous period have been paid off now thus those need to be reduced from cash expenses.
Answer:
b. As both an increase in the equipment account and an increase in contributions from donated services.
Explanation:
When the flood damages the vehicles there was a loss in the value of the organisation's equipment. The actor of restoring it to its previous state will require an addition to equipment account. So there will be an increase in equipment.
The services provided by the mechanic were free and will be recorded as a donated service. This is an increase in contributions from donated services.
There is no expense recorded as the services were performed for free.
Answer:
$240,909
Explanation:
Given:
Number of common stocks issued = 10,000
Value of common stock = $5
Fair value per share = $25
Number of shares of $15 par value = 15,000
preferred stock having a fair value of $20 per share = $530,000
Total market value of the stocks = 10,000 × $25 + 15,000 × 20 = $550,000
Now,
The proceeds that would be allocated to the common stock will be
= 
= 
= $240,909
The growth rate is a measure of the rate at which a country's population is increasing.
The growth rate of a population measures the percentage increase in the value of a quantity.
For example, if the growth rate of a population is 10%, if the town currently has 1000 people, next year population would be: 1000(1.1) = 1100 people.
Factors that leads to increases in a population
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B. The allowance for doubtful accounts is reported as a deduction from accounts receivable on the balance sheet
