Answer:
The demand for uniforms Increase by shift to the right, it cause the price increase, therefore the supplies increase and move upward.
Explanation:
A change from straight-line depreciation to double-declining-balance depreciation would be reported as a restatement of the prior period statements only.
The term depreciation refers to an accounting technique used to spread the cost of a tangible or physical asset over its useful life. Depreciation indicates how much of an asset's value has been used. It allows companies to generate income from the assets they own by making payments over a period of time.
Depreciation expense is apportioned to charge a reasonable portion of the depreciation amount for each accounting period over the expected useful life of the asset. Depreciation includes the depreciation of assets with a predetermined useful life.
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A capitalized value of land is the value of the land calculated on Total return per year divided by the interest rate.
The capitalized value of land = Return on land per year ÷ Interest rate
Where Return on land per year = $750
Interest Rate = 7%
The capitalized value of land = $ 750 ÷ 0.07
= $ 10,714.29
Therefore, the capitalized value of land if the interest rate is 7% is $ 10,714.29.
Answer and Explanation:
1. Event Nature of expenditure
The capital expenditure is the expenditure which is incurred for one time or we can say it is spent on long term assets. While on the other hand, the revenue expenditure is expenditure which is incurred on frequent basis
Based on this, the treatment is as follows
i. Capital expenditure
ii. Revenue expenditure
iii. Revenue expenditure
iv. Capital expenditure
2. The Journal entry is shown below:-
a. Equipment Dr, $40,000
To Cash $40,000
(Being replacement of compressor is recorded)
Here we debited the equipment as it increased the assets and we credited the cash as it decreased the assets
b. Building Dr, $225,000
To Cash $225,000
Here we debited the equipment as it increased the assets and we credited the cash as it decreased the assets
Answer:
Option (B) is correct.
Explanation:
Given that,
Standard Price = $5
Direct material (Actual Price) = $4.9
Actual Quantity Purchased = 28,900
Materials price variance for January:
= (Standard Price - Actual Price) × Actual Quantity Purchased
= ($5 - $4.9) × 28,900
= $2,890 (Favorable)
Therefore, the materials price variance for January is $2,890 Favorable.
