Answer with its Explanation:
On February 14, the repairment of transmission is the repair and maintenance cost and hence it must be accounted for as an expense.
The Double entry would be:
Dr Repairs and Maintenance Expense $2,300
Cr Cash $2,300
On the same date, the installation of GPS system is an addition of an asset in the delivery truck hence it must be capitalized.
The Double entry would be:
Dr Delivery Van $450
Cr Cash $450
A blueprint for creating a vacation plan is;
- Total budget= $3,000
- Transportation= $700
- Lodging for 6 days= $1,200
<h3>What is a Vacation?</h3>
This refers to the time taken out for relaxation and away from work and stress to a luxury destination.
Hence, we can see that the complete plan is given below:
- Feeding= $600
- Tour guide= $100
- Miscellaneous= $400.
Read more about vacation plans here:
brainly.com/question/860450
Answer:
$1,956,684
Explanation:
As the project has a expected annual return, we have to calculate future value of this investment to find how much money Cll, Inc. will have after 10 years to reinvest.
We know,
FV = PV × 
Given,
Present Value, PV = $630,000
Annual rate of return, i = 12% = 0.12
Number of period, n = 10 years
Putting the value into the above formula, we can get,
FV = $630,000 × 
FV = $630,000 × 3.105848
FV = $1,956,684
$1,956,684 can be reinvested after the liquidation of 10 years.
Answer:
$2,800
Explanation:
Particulars Amount
Favorable temporary difference at the end of 20X2 $7000
* Income tax rate <u> 40% </u>
Deferred tax asset account at the end of 20X2 <u>$2,800</u>
Answer:
1. Market Equilibrium, 2. Interest Rate, 3. Rationing, 4. Supply Shock, 5. Excess Supply, 6. Excess Demand, 7. Price Floor
Explanation:
1. The point at which quantity demanded and quantity supplied are equal: <u>Market Equilibrium </u>
2. The financial and opportunity costs consumers pay in searching for a good or service : <u>Interest Rate </u>
3. A system of allocating scarce goods and services by criteria other than price: <u>Rationing </u>
4. A sudden drop in the supply of a good: <u>Supply (decrease - leftward shift) shock </u>
5. Any situation in which quantity supplied exceeds quantity demanded: <u>Excess Supply </u>
6. Any situation in which quantity demanded exceeds quantity supplied: <u>Excess Demand </u>
7. A government-mandated minimum price that must be paid for a good or service: <u>Price Floor (Minimum Support Price)</u>