Deffered Revenues, will not increase or decrease the fund balance of general fund during the fiscal year, as it is revenue which has not been earned yet, and cannot be shown as incomes in the Income statement, thus it is a liability which will be due if the service is not complete.
Other financing sources may increase or reduce the fund depending upon what kind of finance has been provided.
Answer:
$12,000
Explanation:
The double-declining method records a higher depreciable amount in the first years of asset life. It uses double the rate used in the straight-line method.
Using the double-declining method, the depreciation rate for Fathom will be 40 % ({1/5 x100 } )
first-year depreciation- 2018
=40/100 x $50,000
=0.4 x 50,000
=$20,000
Book value= $50,000- $20,000= $30,000
Second-year depreciation- 2019
= 40 % x 30,000
=0.4 x $30,000
=$12,000
By using the double-declining-balance depreciation amount for year two = $12,000
Explanation:
Agile methods differ from traditional methods in that they prioritize feedback and learning, promoting flexibility and collaboration. Instead of a set process, they allow room for a constantly revised and updated plan of action based on outcomes, customer feedback, and latest results
Answer:
a. Excluded from the labor force
Explanation:
Labor force comprises people in active employment or those not employed but as actively seeking work. Active employment consists of employed, self-employed, and those engaged in economic activities for a profit. Unemployed are the jobless people actively seeking for work. Students, retired people, children, the aged, and those not working and not seeking work are not part of the labor force.
Discourage workers are a group of jobless workers who have given up the search for jobs. They are workers who, after failing to secure a job, have given-up; hence they are no-longer searching. Discouraged workers are not part of the labor force as they are not actively seeking work.
Answer:
$11,500
Explanation:
The elements of the income statements (revenue and expenses) are usually closed to the income summary.
The revenue account is normally a credit balance and would be closed by debiting it and crediting the income summary while the expense which is usually a debit balance is closed by crediting the account and debiting the income summary.
The dividend declared and paid is a part of the retained earnings and is not closed to the income summary.
Hence the balance in the Income Summary account prior to closing net income or loss to the Retained Earnings account
= $18,000 - $6,500
= $11,500