Answer: Compare another period > Previous year (PY)
Explanation:
QuickBooks Online is an accounting service provided to small and medium businesses to help them with their accounting needs even with the most rudimentary of knowledge.
Should you want to view a client's income and expenses over the past two years, use the compare another period and then the Previous year option. The income and expenses will be shown for the current year and the last one making it 2 years.
Business optimism about future sales tends to <u>increase </u>investment expenditures, shifting the ad curve to the <u>left</u>.
The National Federation of the unbiased enterprise (NFIB) Small commercial enterprise Optimism Index is a composite of ten seasonally adjusted components. It offers an illustration of the fitness of small businesses within the U.S., which account for more or less 50% of the country's private team of workers.
The NFIB Small business Optimism Index in the united states decreased to 89.5 in June of 2022, the lowest given that January 2013, and in comparison to 93.1 in may additionally. An internet bad 61% of small enterprise owners count on higher commercial enterprise situations over the next six months, the bottom level recorded within the 48-year survey.
This business confidence indicator presents information on destiny trends, primarily based on opinion surveys on traits in manufacturing, orders, and shares of completed items in the industry zone.
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<span>asset turnover ratio is the ratio of the value of a company's sales or revenues generated relative to the value of its assets. The Asset Turnover ratio can often be used as an indicator of the efficiency with which a company is deploying its assets in generating revenue.
Given that the sales is 60k and the value of the asset is 370k, the ratio is simply the sales / value of assets which is 60/(370-88).</span>
Answer:
B)debit Interest Expense, $200; credit Interest Payable, $200
Explanation:
The adjusted journal entry for the interest expense is shown below:
Interest expense A/c Dr $200
To Interest payable $200
(Being the interest adjusted entry is recorded)
Since we have to record the interest expense from September 1 to September 30 which reflects 1 month and the computation of interest expense is shown below:
= Principal × rate × (number of month ÷ total number of months in a year)
= $40,000 × 6% × (1 ÷ 12)
= $200
Answer:
$4080
Explanation:
Straight line method of depreciation is a method of calculating depreciation expense of an asset after years of usage.
Given;
Initial cost of asset = $44,000
Salvage value = $3,200
After five years the asset has depreciated by ($44000-$3200) i.e
$40800
Depreciable asset cost = $40,800 (after 5years)
To determine the depreciation amount recorded during the first year ending 31st December;
Since the van was purchased July 1 of that year, by December 31 of the same year, the van must have been used only for 6months i.e (0.5year)
Depreciation expense = year of usage/total useful life × depreciable cost of asset
Depreciation expense = 0.5/5×$40,800
Depreciation expense = $20,400/5
Depreciation expense = $4080
