Answer:
B
Explanation:
she has to do the following to reinstate her license - Makes a proper application within thirty-one days after the date of expiration, by payment of the regular three-year renewal fee.
This is called accumulated depreciation
Answer:
No information given regarding depreciation method Therefore, it is assume P.T Scope Company will use the Straight line Depreciation Method in order to get book value on Dec 31, 2012 and Book value computer system is $1080.
Explanation:
Using Straight line depreciation method the value of Computer system at Dec 31, 2012 is $1080
Depreciation = (cost of asset - Salvage value) / Useful life of asset
Note: In straight line depreciation method the depreciation expense remain constant as it based on the original cost of assets.
Depreciation expense on Dec 31, 2011 = ($3240 - 0 ) / 3 = $1080
Book value on Dec 31, 2011 = $3240 - $1080 = $2160
Depreciation expense on Dec 31, 2012 = ($3240 - 0 ) / 3 = $1080
Book value on Dec 31, 2012 = $2160 - $1080 = $1080
Straight line depreciation method calculate book value based on the original cost and book value is calculated using Year starting value minus Depreciation expense. Hence, Book value reduce as asset continue to use in business until it reaches to zero or salvage value.
Answer:
c. Sales budget, budgeted income statement, budgeted balance sheet
Explanation:
First, we calculate the sales for the period. It would also calculatethe cash proceeds from sales, which will be useful for the balance sheet.
With that, we can plug sales revenue into the income statement and calcualte the net income.
And with the income statement, we can solve for retained earnings and build up the balance sheet. Among other data
Doing it in any other order, we are going to leave blanks and need to do the next one to fill them. In the proposed orde,r we do not need information from the subsequent budget to complete the previous one, which is good.
