Answer:
$33,600
Explanation:
The computation is shown below:
But first we have to determined the following things
Depreciation rate
= 1 ÷ useful life
= 1 ÷ 10
= 0.1
It is double-declining so the rate is also double i.e. 0.20
Now in the first year, the depreciation expense is
= $40,000 × 0.20
= $8,000
Now in the second year, the depreciation is
= ($40,000 - $8,000) × 0.20
= $25,600
So, the accumulated depreciation at the end of 2019 is
= $8,000 + $25,600
= $33,600
Here the residual value is not relevant. hence, ignored it
Answer:
The potential of additional regional currencies such as the euro is very important, and for this reason, many economists support the idea. In fact, John Maynard Keynes, one of the most influential economists in history, once proposed not a regional common currency, but a common global currency.
The potential lies in the fact that regional currencies allow to coordinate a common monetary policy in several countries. This common policy means that several countries now have the same interest rates, the same rate of inflation, and the same currency itself, and all these commonalities facilitate the exchange of goods and services.
While the Euro has had drawbacks since its inception, the Euro has survived, and is now one of the strongest curriencies in the world.
If you support the concept, should those currencies be tied to regional economic blocs?
I support the concept, and I agree that they should be tied to regional economic bloc. It would not be very effective to adopt a common currency for countries that are not economically integrated in other areas.
Answer:
C. A proposal of products that will solve the prospect's problems.
Explanation:
With regards to the above scenario, both Joan and Sarah put together a proposal of products that will solve the project's problems by critically analyzing the needs of the huge new prospect and providing various options.
Here, both staff knew the need of the prospect hence are able to come up with necessary questions and various solutions that would address the needs.
In addressing a need, various alternatives to providing solution to that need must be made available which is what was provided to the huge new client.
A step lease covers the landlord's expected increases in expenses by increasing the rent on an annual basis over the life of the agreement.
Answer:
A. Reversals entry
1. Dr Cash 900
Cr Equipment 900
Correct entry
Dr Wages and salaries 900
Cr Cash 900
B.
2. Dr Cash 5850
Dr Service revenue 650
Cr Account payable $6,500
3. Dr Accounts payable 360
Cr Equipment 360
Explanation:
A. To Correct the errors by reversing the incorrect entry and Preparation of the correct entry.
Reversals entry
1. Dr Cash 900
Cr Equipment 900
Correct entry
Dr Wages and salaries 900
Cr Cash 900
B. To Correct the errors without reversing the incorrect entry
2. Dr Cash 5850
($6500-650)
Dr Service revenue 650
Cr Account payable $6,500
3. Dr Accounts payable 360
(510-150)
Cr Equipment 360
