Answer:
Debit supplies expense $2,200
Credit office supplies $2,200
Explanation:
The beginning balance of $1,600 plus the purchases of $1,800 makes an available office supplies balance for the period in the amount of $3,400. A year-end physical count of $1,200 constitutes the remaining supplies balance at the period after they used up the $2,200 portion ($3,400 - $1,200). The appropriate journal entry at the year end is to recognize the expense portion of the supplies. Therefore, we have to debit supplies expense and credit office supplies in the amount of $2,200.
Answer:
A.Loss of value is correct answer sir
Answer:
five years
A regular and normal architecture program would typically take up to 5 years to complete. The answer is five years. Hope it helps!
Answer:
sales account debited Rs.30000
To computer accounted Rs. 30000
Furniture account debit Rs.70000
To Furniture house account Rs.70000
salary account debit Rs 40000
To cash account Rs 40000
Bank account debit Rs 70000
To sales account Rs70000
The computation is shown below:
The amount which is to be recovered is equal to the purchase amount i.e $650,000
The present value of bargain purchase option is
= $150,000 × Present value factor at 6% for 6th period
= $150,000 × 0.704961
= $105,744
The amount to be recovers through periodic lease payment is
= $650,000 - $105,744
= $544,256
And, the annual lease payment is
= Recovered amount through periodic lease payment ÷ Cumulative Present value factor for annuity due at 6% for 6 periods
= $544,256 ÷ 5.212364
= $104,416