Answer:
The answer is attached for ready reference
Explanation:
Please note no effect for depreciation is taken as it is non cash item.
The may ending balance is having a surplus of $103,300
A reduction in retained earnings of $2,950,000.
$37(500,000 x .14) = &2,590,000
Answer:
The answer is A.
Explanation:
Bank deposits from customers create both a liability and an asset for the bank.
1. As a liability: The deposit is the customer's money. The bank is keeping the money for the customer. The customer can withdraw the fund any time.
2. As an asset: The money deposited by the customer can be used by the bank to generate revenue pending when the customer withdraws the money. The money not yet withdrawn by customers is still in the possession of the bank and the bank controls it.
An online classroom allows you to do it without physically being there
