Answer: c
. Depreciation
Explanation:
When accounting for fixed assets, it is important that they are recorded at their book value to reflect the effects of being utilized. This means that depreciation needs to be charged on fixed assets.
Even though the equipment in question was only purchased 2.5 months prior to the financial reports being made, depreciation still needs to be accounted for such that the equipment is represented at its book value in the financial statement.
Answer and Explanation:
According to the given situation, the Journal entry is shown below:-
On September 9
Account receivable Dr $5,800
To Allowance for doubtful debts $5,800
(Being written off amount is recorded)
Here we debited the account receivable as it increased the assets and credited the allowance as it decreased the assets
On September 9
Cash Dr, $5,800
To Accounts receivable $5,800
(Being cash collection is recorded)
Here we debited the cash as it increased the assets and we credited the accounts receivable as it decreased the assets
Answer:
False
Explanation:
In financial accounting, statement of cash flows is a financial statement that deals with only cash and cash equivalents by presenting a summary of cash and cash equivalents leave a company and also enter the company.
The cash flow statement gives an indication of the level of cash position management by the a company, which implies the level of cash generated by the company used in settling debt obligations and paying for operating expenses by the company.
The statement of cash flows therefore reveals the effect on cash and cash equivalents of changes that occurred in the income statement and balance sheet over a period of time.
In summary, the statement of cash flows presents how cash from operating, investing, and financing activities during a specific period.
What happens when the supply of a nonperishable good is greater than the consumer wants to buy?
Excess supply>remains unsold, eventually price drops
Answer:
$56818.38
Explanation:
To Calculate the Out of Pocket Expenses --
Outflows = Inflows
Let assume out of pocket exps will be x $.
Let Loan taken today in 2020 & to be repaid in 2028 , for 8 years .
Loan Amount with Interest = (Savings of fuel due to plant + Out of Pocket Expenses) discounted at 3%
50,000 * (1.05)^8 = (1500+x)^(1.03)8
73872 = 1900.155+1.2667x
73872-1900.155 = 1.2667x
71971.845 = 1.2667x
x = $ 56818.38
Therefore the Out of Pocket expense is $56818.38
