The correct answer is; October 1st and September 30th.
Further Explanation:
There are approximately 3 types of fiscal years. They are;
- Business
- Federal
- Non-profit
The federal fiscal year always starts on October 1st and will end on September 30th the following year. These are divided into four quarters each year. This will cover a 12 month calendar year.
A fiscal year can contain 365 or 366 days depending if there is a leap year. This is used as a starting place to start commencing your record keeping in order and when to conclude for the year.
When keeping financial records numerous things needs to be kept for the following year. Some of the things that needs to be kept are; precise records, receipts, contracts, check stubs, and the budget used.
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This is false abandonment options should decrease a project's risk.
Answer:
The correct option here is C) units in the beginning work in progress period which were completed , units which were started and completed, and units in ending work in progress.
Explanation:
FIFO ( First in first out ) method is used to take out the cost per unit when doing process costing, in this method it is assumed that the inventory which were not finished during the beginning of period would be first completed and then new shall be started.
To take out the equivalent cost per unit under the FIFO method we will add the units which were completed in the beginning plus units which were started and completed during the period and plus the units which are left in ending work in progress.
Answer:
$89,100
Explanation:
Let us first calculate annual gross rent for Year 1:
Total rent per month:
= 2 suites at $1,800 + 1 suites at $3,600 + 5 suites at $1,560
= $3,600 + $3,600 + $7,800
= $15,000
Annual gross rent = Total rent per month × 12
= $15,000 × 12
= $180,000
Effective gross revenue = Potential gross rent revenue - Vacancy and connection losses (10% of potential gross rent)
= $180,000 - $18,000
= $162,000
Net operating income = Effective gross revenue - Operating expenses including depreciation
= $162,000 - $72,900
= $89,100
