Answer:
<em>C. The individual unit owner</em>
Explanation:
Based on what you actually own, your maintenance responsibilities for the property – and therefore your repair costs, and so on – will vary.
Normally, a unit owner is made responsible for managing all that is a part of his unit system.
For instance, if you identify a "unit" in your condominium complex to include the outside shutters on your windows, it will be your responsibility to maintain that.
If they collapse off from each other a few years after you move in, you probably won't be able to get help from the home owners association (excluding proof that they were defective at first).
Answer and Explanation:
The preparation of the contribution margin income statement for the year is presented below:
Sales (45,000 units × $16 per unit) $720,000
Less: variable cost (45,000 units × $180,000 ÷ 30,000 units) -$270,000
Contribution margin $450,000
Less: fixed cost -$300,000
Net operating income $150,000
Answer:
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Explanation:
Answer:
The depreciation expense for 2015 is $2,000
Explanation:
The computation of the depreciation expense is shown below:
= (Original cost - residual value) ÷ useful life
= ($35,500 - $4,000) ÷ 7 years
= 4,500
The depreciation for three years would be
= 4,500 × 3 years
= $13,500
The remaining amount would be
= $35,500 - $13,500
= $22,000
So, the depreciation expense for 2015 would be
= ($22,000 - $4,000) ÷ 9 years
= 2,000
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