Answer:
I prepared the attached excel spreadsheet because there is not enough room here. The first payment is made on December 2019.
Answer:
$6.20
Explanation:
The computation of the transaction fee is shown below:
= 1% of the total charge + $0.20
= 1% × $600 + $0.20
= $6 + $0.20
= $6.20
Simply we calculated the total charge value and then added the given fee which is mentioned in the question.
Here, total charge means the purchase value of the computer which is purchased by the customer
<span>FIFO (First in, First Out) reports higher gross profit and net income than the LIFO (Last In, First Out) method when prices are increasing. The FIFO method refers to an inventory system wherein the first items purchased are thought to be sold while the most recent purchases make up the ending inventory. On the other hand, the LIFO method assumes the opposite. The ones sold are the most recent purchases while the earlier purchases are included in the ending inventory. </span>
Answer:
Prepare the entry to correct the prior years' depreciation, if necessary.
any change in depreciation expense must be done for future events, past events cannot be adjusted
Depreciation expense 2021:
carrying value December 2020 = $69,000 - {[($69,000 - $4,600) / 8] x 5} = $69,000 - $40,250 = $28,750
depreciation expense per year (including 2021) = ($28,750 - $5,175) / 5 = $4,715
During a business cycle expansion, total production increases and total employment increases.
<h3>
What does "business cycle" mean?</h3>
- Business cycles are a sort of variation that may be observed in the overall economic activity of a country.
- A business cycle is made up of expansions that occur roughly at the same time in many different economic activities, followed by contractions that are similarly widespread (recessions).
- This series of modifications is periodic but not recurring. Economic activity goes through periods of boom and then contraction during business cycles.
- Both the general welfare of society and the welfare of private entities are affected by these developments.
To learn more about business cycles, refer to the following link:
brainly.com/question/26086110
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