Answer:
CALCULATE EXPENSES
Your first order of business is finding out exactly how much you’re spending each month. Do this by consulting your bank statements, receipts and financial files. Because some expenses are intermittent, such as insurance payments, you’ll get the most accurate financial picture if you calculate an average for six months to a year. Add up everything you spent for the last six to 12 months and then divide by the amount of months, which will give you your average monthly expenses.
Remember that being thorough when you add up expenses is important in creating a realistic budget. A forgotten bill really throws a wrench into your savings plan. When calculating your expenses, also factor in unexpected bills, such as unplanned car repairs. A good rule of thumb is to add an extra 10 percent to 15 percent. So if you’ve determined that you spend $1,500 a month, add $150 to $225.
Answer:
$206,667
Explanation:
Calculation for What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2020
Using this formula
Total Amortization expense=Cost/useful life*Number of months
Let plug in the formula
Total Amortization expense=$1,162,500/180*32
Total Amortization expense=$206,667
Note that 15 years*12months will give us 180 months which is the useful life while May 1, 2018 - December 31, 2020) will give us 32 months
Therefore the total amount of amortization expense should have been recorded on the intangible asset by December 31, 2020 will be $206,667
Answer:
The first step in operating cycle would be to purchase inventory from vendors.
The correct answer is D
Explanation:
The steps involved in operating cycle includes:
1. Purchase of inventory from vendors
2. Sale of goods to customers
3. Recording of sales in accounts
4. Collection of cash from customers
Answer:
Company, Customers, Competitors, Collaborators, and Climate.
Explanation:
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Answer:
Book Value at end of year 6 = $100,000
Explanation:
An Asset is depreciated to salvage value therefore when depreciation is complete the book value equals salvage value or zero.
Salvage value is an estimated value of what the company expects to earn after using the asset maybe when selling off the asset.
