Answer:
Increase of $30,000
Explanation:
Increase in Company asset- Increase in liabilities
Increase in Company asset =$55,000
Increase in liabilities =$25,000
Hence:
$55,000 -$25,000
=$30,000
Therefore the change in equity of the company must have an increase of $30,000
Answer:
Depreciation (debit) $1,230
Accumulated Depreciation - Riding Mower (credit) $1,230
Explanation:
Straight Line Method of Depreciation, charges the same amount of depreciation over the useful life of the asset.
Depreciation Charge = (Cost - Residual Value)/ Useful Life
<em><u>2017</u></em>
Depreciation Charge = ($15,200 - $2,900)/ 10-years
= $1,230
<em>Recognize the depreciation expense to Profit and Loss and Accumulate the Depreciation Charge in Financial Statement through Accumulate Depreciation Account.</em>
Depreciation (debit) $1,230
Accumulated Depreciation - Riding Mower (credit) $1,230
The expense recognition (matching) principle, as applied to bad debts, requires: the use of the direct write-off method for bad debts.
The matching principle is aa basic guideline in accounting. This principle is used to determine where debts need to go when accrual journals and adjusting entries are being made for a companies reports. The direct write-off method where a company immediately charges off bad debt from sales revenue.
Answer:
The answer is a. work in process, finished goods, and cost of goods sold.
Explanation:
Answer:
2500
Explanation:
non-institutional population: Those in labor force and not in labor force
1,500 + 200 + 300 + 500= 2500
