Answer and Explanation:
1st Sep Land 85400/140000*120000 $73,200
Building 54600/140000*120000 $46,800
Cash $120,000
2nd Sep Equipment 42000*0.91743 $38,532.06
Discount 3780*0.91743 $3,467.94
Notes Payable $42,000
15th Sep Truck $2,700
Sales Revenue $2,700
18th Sep Organization Cost Expenses $4,000
Cash $4,000
10th Oct Machinery $17,600
Cash $17,600
2nd Dec Office Equipment $5,700
Common Stock $5,700
10th Dec Land $22,000
Cash $3,000
Notes Payable $19,000
Answer:
b. the asset must have an expected life of a normal operating cycle.
Explanation:
A current asset can be defined as all of the assets that are being owned by a company or business entity and are expected to be converted into their cash equivalent through sales or use within a period of one year of its date on the organization's balance sheet.
Hence, to be included in property, plant, and equipment, an asset must have all of the following;
I. The asset is expected or required to be held for use
II. It must be tangible in nature.
III. It is required to have an expected life of that is typically above a year.
Answer: Take a picture of the check and email it to the company's address.
A downfall of the infant-industry argument is that o<span>nce established, a tariff is politically difficult to remove.
For new industries, it almost impossible for a new startup to compete against a well-established industry unless they have a unique differentiation in their product.</span>
