Answer: Option A
Explanation: In simple words, Short run budgets refers to the budgets which are made for a period of less than 12 months and long run budgets are made for a time period greater than one year.
Short run budgets are prepared for some specific assets such as supplying a new customer for one year.
Thus, from the above we can conclude that the correct option is A.
Answer:
a. The depreciable cost is $72000.
b. The depreciation rate is $0.36 per mile.
c. The depreciation expense for the year is $6480.
Explanation:
a.
The depreciable cost is the cost that is eligible for depreciation. It is calculated by deducting the residual value from the cost of the asset.
Depreciable cost = Cost - residual value
Depreciable cost = 80000 - 8000 = $72000
b.
The depreciation rate can be calculated by dividing the depreciable cost by the total estimated useful life of the asset.
The depreciable rate = 72000 / 200000 = $0.36 per mile driven
c.
The units of activity depreciation for the year is,
Depreciation expense = 0.36 * 18000 = $6480
Answer:
maintaining functions such as employee compensation, recruitment, and personnel policies
Explanation:
Answer:
C) Company 1 sold their bonds at 94 and redeemed them at 106.
Explanation:
The face value of bond issued in 4 companies are same, then it's clearly that the company 1 will have the lowest carrying value on their bonds because they sold at lowest price but buy back (redeem) at highest prices.
Answer:
overstated
Explanation:
Adjusting entry is a term used in the accounting process, which describes journal entries usually carried out at the end of an accounting period to assign income and expenditure to the period in which they actually happened.
However, the journal entry to identify a deferred revenue is to debit or increase cash and credit or increase a deposit or another liability account.
Hence, Failure to record the adjusting entry for deferred revenue now earned causes liabilities on the balance sheet to be what OVERSTATED
