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3 years ago

What is an organized activity that provides goods and services to others at a

Business

1 answer:

Radda [10]3 years ago

4 0

Answer: C

Explanation:

A business is any activity that provides goods or services to consumers for the purpose of making a profit.

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There are two parties in any lease contract—the lessee and the lessor. To a lessor, a lease analysis involves a capital budgetin

inn [45]

Answer:

a, b

Explanation:

It is important to note that a lessor's goal is to make a profit, thus he would be more concerned about knowing what is the value realized after subtracting the lease payments from his income taxes and any maintenance expenses that must be incurred as per the lease agreement.

In order to be cost efficient, he might as well determine the net cash outlay of the lease agreement.

4 0

3 years ago

Assume you are in the 35 percent tax bracket and purchase a municipal bond with a yield of 5.50 percent. Use the formula present

Debora [2.8K]

Answer:

8.46%

Explanation:

Calculation for the the taxable equivalent yield for this investment

Using this formula

Taxable equivalent yield

=Tax-exempt yield / (1 − Your tax rate)

Let plug in the formula

Taxable equivalent yield=0.055 / (1 - 0.35)

Taxable equivalent yield=0.055/0.65

Taxable equivalent yield=0.0846*100

Taxable equivalent yield= 8.46%

Therefore the taxable equivalent yield for this investment is 8.46%

4 0

3 years ago

On January 1, 2018, Orangewood Industries bought a new cash register for $7,500. Orangewood plans to use the cash register for 4

masya89 [10]

Answer:

Depreciation expense for the year ended December 31, 2018 equals: $1,725

Explanation:

Orangewood uses straight-line depreciation, Depreciation Expense each year is calculated by following formula:

Depreciation Expense = (Cost of asset − Residual Value)/Useful Life

In Orangewood:

Cost of ash register is $7,500. The company plans to use the cash register for 4 years and then sell it for $600, therefore, Residual Value is $600 and Useful Life is 4 years.

Depreciation Expense each year = ($7,500-$600)/4 = $1,725

The cash register was bought on January 1, 2018. Depreciation expense for the year ended December 31, 2018 equals: $1,725

7 0

3 years ago

Choose the answer which best describes the relationship between the attribute given for a financial statement account and the li

Darina [25.2K]

Answer:

The correct answer is A

Explanation:

There is a direct relationship among the adequacy of the internal control as well as the ability of the auditor to rely on the procedures of the substantive analytical. When the entity does not have the efficient internal controls, then the auditor will rely on the procedures.

There is an inverse relationship among the RMM ( stated as risk of the material misstatement) as well as the ability of the auditor to rely on the procedures. And high RMM states that the internal control cannot be relied on to detect the material misstatement on the financial statements, which cause the auditor to rely on the tests of controls.

And there is a direct relationship among the predictability of the relationships among the data and the ability of the auditor to rely on the procedures. When the relationships are predictable, then the auditor could create a meaningful expectations which cause the procedures to be more efficient in detection of material misstatement.

3 0

3 years ago

Wall Corporation exchanges old equipment for new equipment. The original cost of the old equipment was $100,000, and its accumul

Taya2010 [7]

Answer:

<em>2.Credit Equipment 100,000</em>

<em>3. Debit accumulated depreciation 60,000</em>

Explanation:

When trading equipments to determinate if there is or not a gain or loss we have to know if there is commercial substrance.

When that is the case then, we can post the difference in value as gain or loss.

When there isn't, we enter the new equipment for the amount of the net book value of the equipment to avoid recording gain or losses.

Equipment (new) 80,000 debit

Acc Dep- Equipment (old) 60,000 debit

Equipment(old) 100,000 credit

Gain at Disposal 40,000 credit

--to record when there is commercial substance--

Equipment (new) 40,000 debit

Acc Dep- Equipment (old) 60,000 debit

Equipment(old) 100,000 credit

--to record when there isn't--

In both cases, whe have to write-off the old equipment thus, debit the accumulated depreciation balance.

and credit the old equipment cost

3 0

3 years ago