Answer:
a. debit Depreciation Expense $ 290
credit Accumulated Depreciation $ 290
Explanation:
The depreciation has to be calculated for the month of December i.e one month.
The annual depreciation per the question is $ 3,480 so the monthly depreciation expense is $ 290.
The depreciation expense account is debited, and the credit is to accumulated depreciation account. The equipment account is not credited directly, This is to show the costs and the accumulated depreciation separately.
The equipment on the balance sheet is shown as net of accumulated depreciation.
Answer: See explanation
Explanation:
Based on the information given in the question, we should note that while using the gross method, the revenue gotten from sales will be calculated by subtracting the rebate of 2% from the full invoice amount of $110,000. This will be:
= $110,000 - (2% × $110,000)
= $110,000 - (0.02 × $110,000)
= $110,000 - $2200
= $107800
Using the net method, the revenue gotten from sales will be calculated by subtracting the rebate of 6% from the full invoice amount of $110,000. This will be:
= $110,000 - (6% × $110,000)
= $110,000 - (0.06 × $110,000)
= $110,000 - $6600
= $103400
Answer:
B) 18
Explanation:
A Coverdell Education Saving Account accepts contributions up to the 18th birthday of the beneficiary, unless the beneficiary has "special needs" (usually some type of disability).
Coverdell ESA are very similar to a 529 plan, except that the beneficiary is the owner of the funds, not the account owner. Both accounts offer tax free earnings growth and tax free withdrawals, as long as they are used to cover qualifying educational expenses.
Answer:
Option A
Explanation:
comparing the return to the return on invested capital obtained by other firms in the industry
Option C talks about balancing Assets & liabilities
Option D talks about history of the firm without considering history of other rival companies
