Answer:
The correct answer is True.
Explanation:
According to the nature of the equity accounts, a debit means a decrease in the balances generated within this item for the benefit of the members. On the contrary, a credit means that equity increases.
this reason, there is a total balance of capital for $ 15,000 and another for $ 25,000. If the balance of $ 25,000 is subtracted from $ 15,000, you have to:
Available cash = 25,000 - 15,000 = 10,000.
Answer:
C. The cost of plant and equipment is allocated to expense over its useful life.
Explanation:
Depreciation is defined as the fall in value of an asset; how an asset value declines or falls overtime. Causes of depreciation are wear and tear, obsolescence etc.
Depreciation is also a process, where the cost of assets(plants, equipments and machineries) are allocated to expense over their useful life. It is computed as ; cost minus scrap value divided by lifetime [ (Cost - Scrap value)] /life time
the department of a business or organization that deals with the hiring, administration, and training of personnel.
Answer:
Please see details below:
Explanation:
Raw materials inventory $ 50.000
Cash $50.000
*this entry register the stock of the raw materials in the accounting system.
Factory Supplies $12.000
Raw materials inventory $12.000
*Some raw materials can be used as intermediate goods..
Finished Goods $12.000
Raw materials inventory $12.000
*Some raw materials can be used as Finished goods..
Answer: $2,974.45 million
Explanation:
Cost of goods sold for Year 7 = $2,945 million
Cost of goods sold is expected to increase by 1%.
Cost of goods sold in Year 8 will be:
= 2,945 * (1 + 1%)
= $2,974.45 million
