Will typically have a strong-willed learning environment.
Answer:
Straight-line method:
- depreciation expense year 1 = ($39,000 - $4,000) / 5 = $7,000
- depreciation expense year 2 = $7,000
- depreciation expense year 3 = $7,000
- depreciation expense year 4 = $7,000
- depreciation expense year 5 = $7,000
200 declining balance method:
- depreciation expense year 1 = 2 x 1/5 x $39,000 = $15,600
- depreciation expense year 2 = 2 x 1/5 x $23,400 = $9,360
- depreciation expense year 3 = 2 x 1/5 x $14,040 = $5,616
- depreciation expense year 4 = 2 x 1/5 x $8,424 = $3,369.60
- depreciation expense year 5 = $5,054.40 - $4,000 = $1,054.40
Sum-of-years-digits method:
- depreciation expense year 1 = 5/15 x $35,000 = $11,666.67
- depreciation expense year 2 = 4/15 x $35,000 = $9,333.33
- depreciation expense year 3 = 3/15 x $35,000 = $7,000
- depreciation expense year 4 = 2/15 x $35,000 = $4,666.67
- depreciation expense year 5 = 1/15 x $35,000 = $2,333.33
Answer:
The answer is option A) The corporation may have liability, but not the individual owners.
Explanation:
The corporation may have liability, but not the individual owners because it is a C Corporation.
A C Corporation legally separates owners' or shareholders' assets and income from that of the corporation. This helps to limit the liability of investors and firm owners since the most that they can lose in the business's failure is the amount they have invested in it.
So, even if the team get sued for negligence because an individual who turned to see the quarterback running naked crashed her car, the corporation will have liability.
Answer:
Date Account Debit Credit
Sep 9 Petty cash $420
Cash $420
Sep 30 Merchandise inventory $53
Postage expense $70
Miscellaneous expense $123
Cash shortage $8
Cash $254
Oct 1 Petty cash $30
Cash [450-420] $30
An investor can make money from an equity investment by selling the asset or assets for a profit. Selling these assets during a favorable market time can give a big revenue to the investor especially if the sale price is high.
