Answer:
$196,000
Explanation:
The question is to prepare the balance sheet of Bowler Corporation as at the end of 2021.
Balance Sheet is generally divided into Assets side (Non-Current and current) Liabilities (non-current and current) and the Stockholders equity. A good balance sheet should be as follows Asset= Liabilities + Equity
Bowler Corporation Balance Sheet as at 2021
Particulars Amount($) Amount($)
Non-Current Assets
Equipment 210,000
Less: Depreciation <u> (78,000) </u> 132,000
Current Assets
Cash 9,500
Accounts receivable 19,500
Inventory <u>35,000</u>
Total Current Assets <u>64,000</u>
Total Assets 196,000
Liabilities and Equity
Current Liabilities
Accounts Payable 75,000
Salaries payable <u> 31,000</u>
Total liabilities 106,000
Equity
Common Stock 69,000
Retained earnings <u> 21,000</u>
Total stockholders' equity <u> 90,000</u>
Total Liabilities and Equity 196,000
Answer:
The correct answer is the second option: to monitor the progress of a multi-step project during its development.
Explanation:
To begin with, a <em>"Program Evaluation and Reviews Techniques"</em> or PERT as it name indicates it refers to an stadistic technique by which the companies can follow the process of certain projects that they are having currently. Moreover, its main purpose is to manage and analyze the steps that a project has in order to make them less susceptible to errors. In addition to that, its main factor to observe is the time during the steps of the project. Nowadays is very common to use a tool like this in major companies.
Answer:
Annual depreciation= $5,865,714.29
Explanation:
Giving the following information:
Purchase price= $41,100,000
Salvage value= $40,000
Useful life in hours= 28,000
<u>To calculate the depreciation expense for 2024, we need to use the following formula:</u>
Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated
Annual depreciation= [(41,100,000 - 40,000) / 28,000]*4,000
Annual depreciation= $5,865,714.29
Answer:
c. you need a lot of money to buy a home
Explanation:
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Answer: b. pays cash before the expense has been incurred.checked
d. receives cash before the revenue has been generated
Explanation:
Here is the complete question:
Deferral adjustments are needed when the business:
a. pays cash after the expense has been incurred.unchecked
b. pays cash before the expense has been incurred.checked
c. receives cash after the revenue has been generated.unchecked
d. receives cash before the revenue has been generated.
Adjustments are made during the end of every accounting period in order to report the revenues and the expenses in proper period at which they occur and also in order to report the assets and the liabilities at their appropriate amounts.
Deferral adjustment is when the revenue or the expense has been deferred or postponed and will therefore be reported on the income statement at a later period.
Previously deferred amounts will show on the balance sheet when a company pays cash before having to incur the expense or in a case whereby the company gets and collects cash before earning the revenue.
When revenues are made or when expenses are incurred, the previously deferred amounts will have to be adjusted and then, the amounts will be transferred to income statement through the use of the deferral adjustment.
