Answer:
D. None of the above are true.
Explanation:
As while recording depreciation, the total assets is decreased and the stockholder equity is also decreased as depreciation is a contra asset account
In the side of stockholder equity, the net income, the retained earning and the stockholder equity is decreased
whereas, the total asset is decreased as the amount of asset is reduced by deducting the accumulated depreciation amount
The journal entry is shown below for better understanding
Depreciation Expense A/c XXXXX
To Accumulated Depreciation XXXXX
(Being depreciation expense is recorded)
Answer:
$299,280
Explanation:
If the Tolstoys purchased the house they would pay on average $120 per sq ft x 2,900 sq ft = $348,000
If Mr. installs the plumbing and Mrs. Tolstoy decorates the house, they can save 10% (plumbing and installing plumbing fixtures) and 4% (interior decorating) = 14% of the cost
So the Tolstoys can save = $348,000 x 14% = $48,720
the cost of the house = $348,000 - $48,720 = $299,280
Answer:
The correct answer is 'Option (b)
Explanation:
Cole co. should compare between actual interest incurred on all the debts and the calculated interest on weighted average accumulated expenditure and lower of these two should be capitalized.
Actual interest incurred =$50,000+20,000 = $70,000
Calculated interest = $40,000
Lower of these two to be capitalized for the building during 2011= $40,000
The journal entry to record the inventory shrinkage is :Debit Cost of goods sold $18,600; Credit Inventory $18,600.
<h3>Inventory shrinkage</h3>
Based on the information given the appropriate the journal entry to record the inventory shrinkage is :
Debit Cost of goods sold $18,600
Credit Inventory $18,600
($12,400+$39,800-$33,600)
(To record inventory shrinkage)
Inconclusion the journal entry to record the inventory shrinkage is :Debit Cost of goods sold $18,600; Credit Inventory $18,600
Learn more about inventory shrinkage here:brainly.com/question/6233622
Answer:
50%
Explanation:
Here is important to know that when we have the inflation rate (1,50% in this case) this indicator is enough to get the effect of the prices in an economy and get the nominal GDP affected by prices, so if the price level is 1,50% after the comma we have the average of the growth.
