<span>If the asset was recorded as having a historical cost of $14,725, then that amount is its initial book value, from which depreciation is subtracted. If the asset had accrued $10,000 in depreciation, then its book value at the time was $4,725. As such, if the asset was disposed with no market value, its disposal will be reflected as a book loss of $4,725.</span>
Answer:
The statement in the question is true (The manufacture is trying to alleviate the financial Risk)
Explanation:
<u>Buying a product that offers a money-back guarantee or offers a warranty helps to ensure the consumers peace of mind.The Money back guarantee may allow the purchaser to get their money back in case the product does not work as expected.</u>
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<u>The Money Back Guarantee as as a guarantee that the product will perform as expected. </u>
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Answer:
The greater the discrepancy between a consumer's needy state and the desired state, the greater <u>the consumer's need recognition will be.</u>
Explanation:
As there is a greater discrepancy between the two states, there would be stronger drive to satisfy the need
Debit Store Supplies Expense $280 and credit Store Supplies $280
Explanation:
The adjustment of accounts is a log report that typically is made at the end of a fiscal period to attribute income and costs to the time they actually existed. To order to adjust the entries for the accrued and deferred profits in accrual-based accounting the concept of revenue recognition is the basis. Sometimes they are called day balances because it is performed on the day of equilibrium.
Prepayment adjustment entries are necessary to take into account cash received before goods have been delivered or services have been completed. Once paying this currency, it is first reported in a Prepaid Cost Investment account; either the duration (e.g. rent, insure) or use and use (e.g. provision) of the plan must be assessed.
<span>The issue here is whether Tracy had enough to drink that would cause him to be mentally incapacitated. If Tracy was mentally incapacitated, the contract would be rendered unenforceable and thus, Tracy would not need to honor the contract and vice versa. However, if Tracy cannot show this, the contract will likely be upheld.</span>
