Answer:
$1,200
Explanation:
Actual Cash Value defined either as i) the fair market value of the item, or ii) the Replacement Cost of the item minus depreciation based upon the age of the item that was damaged.
Replacement cost = $2,000
Depreciation= 3 years remaining of it's life = 3/5 × 100 = 60%
Actual cash value = $2,000 × 60% = $1,200.
Answer:
An apple, potato, and onion all taste the same if you eat them with your nose plugged
Explanation:
Answer:
Sep 11
Dr Cash 590.00
Cr Sales 590.00
Dec 31
Dr Warranty expense 59.00
Cr Estimated warranty liability 59.00
July 24
Dr Estimated warranty liability 41.00
Cr Repair parts inventory 41.00
Explanation:
Home Store Journal entry
Sep 11
Dr Cash 590.00
Cr Sales 590.00
Dec 31
Dr Warranty expense (590*10%) 59.00
Cr Estimated warranty liability 59.00
July 24
Dr Estimated warranty liability 41.00
Cr Repair parts inventory 41.00
Can you give a better explanation
Answer:
Trial Balance
Items Group Debit ($) Credit ($)
Cash Asset 37641
Office Supplies Asset 890
Prepaid Insurance Asset 4600
Office Equipment Asset 12900
Accounts Payable Liability 12900
Capital Equity 18000
Withdrawals Equity 3329
Engineering Fees earned Revenue 36000
Rent Expense Expense <u>7540</u> <u> </u>
Total <u>$66900</u> <u>$66900</u>
