Answer:
$4,800
Explanation:
The computation of the accumulated depreciation would Lidos report on the 2017 balance sheet is shown below:
= (Purchase value of new oven- estimated salvage value ) ÷ (expected useful life)
= ($15,000 - $3,000) ÷ (5 years)
= ($12,000) ÷ (5 years)
= $2,400
Now for 2017, the accumulated depreciation is
= Depreciation expense × number of years
= $2,400 × 2 years
= $4,800
Answer:
Overstatement of Assets and liabilities.
Explanation:
Collection of cash results in journal entry of debiting cash with corresponding credit to accounts receivable thus reducing the accounts receivable.
Erroneous credit to accounts payable instead of accounts receivable results in overstatement of assets and liabilities.
Answer:
Federal arbitration district court
Explanation:
It's so judicial platform to facilitate private dispute resolutions through arbitration, it applies where transactions contemplated by parties involved interstate commerce.
Answer:
Terminal depreciation based on square footage ( A )
Explanation:
The operating costs that the company will classify as unavoidable would be the Terminal depreciation based on square footage. this is because the terminal depreciation of the club is unavoidable whether the club is closed or opened. because the terminal depreciation is based on square footage and the coat of operating that space either as a club or expanding the seating area is unavoidable for the company,
The effect on accounting equation is that total liabilities would decrease and stockholder's equity would increase.
<h3>What is the accounting equation?</h3>
The accounting equation also known as the balance sheet equation relates the assets of a business to its liabilities and stockholders' equity. According to the accounting equation: Stockholders' equity = Assets - liabilities.
When a liability reduces, stockholder's equity increases. Also, when assets increases, stockholder's equity increases.
To learn more about stockholder’s equity, please check: brainly.com/question/26210654
