Answer:
Depreciation expense = $4,400
Accumulated depreciation = $13,200
Explanation:
Depreciation: The depreciation is the amount which decreases the value of the asset. It can be by obsolescence, usage, tear and wear, etc.
The annual depreciation is given i.e. $4,400 which will be charged in depreciation expense whereas the accumulated depreciation would be equal to
= Annual Depreciation × useful life
= $4,400 × 3
= $13,200
Answer:
Wholistic Health Services Co.
Income Statement for the year end February 28, 2019
Service Revenue $270,900
Less: Supplies Expense <u>$3,000 </u>
Gross Income $267,900
Less operating Expenses:
Insurance Expense $4,000
Depreciation Expense $9,000
Miscellaneous Expense $6,000
Utilities Expense $1,760
Rent Expense $4,200
Wages Expense <u>$213,000</u>
<u>$237,960</u>
Net Income <u>$29,940 </u>
Explanation:
Income statement shows the performance of the company in a year. It provides the details of revenue, expenses and profits for the year. All the expenses are deducted from the revenue to determine the net earning of the business.
Setting the pay according to the goals achieved
by a group may not be considered beneficial to everyone, thus decreasing motivation.
Pay-for-performance or according to individual performance may help motivate
the employee but increasing individuality in terms of performance may also decrease
group cohesiveness or group-related values. The speaker here shows depreciation by undervaluing another's work to overvalue or protect one's own.
Answer:
The word that means finding its food is hunting
Answer:
B)Perpetual inventory systems require more detailed inventory records.
Explanation:
Under the <em><u>Perpetual inventory system</u></em>, every time a good is sold the cost of goods sold (COGS) needs to be determined. That is the reason the details are so important.
Many times it varies because different units in inventory were purchased at different prices and times. <em>Inflation </em>might be a factor the prices changes too.
However, in the <u><em>Periodic inventory system</em></u>, (COGS) is determined at the end of the accounting period, so the person in charge of keeping the records usually checks the <em>Inventory</em> account at the end of the year to know COGS.
