Answer:
D. None of the above are true.
Explanation:
As while recording depreciation, the total assets is decreased and the stockholder equity is also decreased as depreciation is a contra asset account
In the side of stockholder equity, the net income, the retained earning and the stockholder equity is decreased
whereas, the total asset is decreased as the amount of asset is reduced by deducting the accumulated depreciation amount
The journal entry is shown below for better understanding
Depreciation Expense A/c XXXXX
To Accumulated Depreciation XXXXX
(Being depreciation expense is recorded)
Answer:
B
Explanation:
The question asks to calculate how much will be disbursed by the company in February.
Firstly , we know that the company disburses 75% in the month of purchase and 25% during the month after purchase.
Now, 75% of $130,000 would be disbursed as February’s own payment:
Mathematically 75/100 * 130,000 = 97,500
Also, we should not forget that the company disburses 25% of previous month during the current. That is 25/100 * 100,000 = 25,000
Total amount disbursed is thus 25,000 + 97,500 = $122,500
It is d. <span>Her plan for protecting her assets. In case of an emergency, she should have renters insurance for her apartment.
Mariah has saved $15,000, from which, she will have $10,000 for a house down payment leaving her $5,000. Considering that she has to buy furnishings, her $5,000 will likely be used. Thus, she has to consider her spending.</span>
Answer:
Explanation:
The journal entry is shown below:
Income tax expense A/c Dr $30,035,000
To Deferred tax asset A/c $35,000
To Income tax payable A/c $30,000,000
(Being the income tax expense is recorded)
The computation is shown below:
For deferred tax asset:
= Deferred tax rate - Warrant liability × tax rate
= $435,000 - $1,000,000 × 40%
= $435,000 - $400,000
= $35,000
For income tax payable:
= Taxable income × tax rate
= $75,000,000 × 40%
= $30,000,000
It was called the “ Lewis and Clark Expedition” or “ The Crops Of Discovery”. Hopefully this helped!!
