Answer & Explanation:
The carrying value of the company is $3000 ($23000 - $20000) and the amount paid is $700 for the exchange of a truck worth $5700. The entry for such an exchange will be:
Dr Truck- Accumuated Depreciation $20000
Dr New Truck (Balancing amount) $3700
Cr Asset Cost $23000
Cr Cash Paid $700
So the new value that must be recognized as asset value in the Statement of Financial Position for the year is $3700.
So the option C is correct.
Answer:
a. Sue told her employees the department needed 12% more sales this year than last and they would be contacting at least four new customers each week
To create a balanced budget, one must balance needs against wants.
In order to Create a balanced budget you should:
<span>1. Keep track of your </span>financial gain<span> and expenses.</span>
<span>2. Stay on </span>top<span> of your monthly bills.</span>
<span>3. Be </span>ready<span> for </span>surprising<span> expenses.</span>
4. Not overspend.
<span>5. Figure out </span>what quantity you wish to save lots of to satisfy your monetary goals.
Answer:
Answer is mentioned below.
A) The relative price of all commodities are meaning less since no old product is re purchased . What exist is only the new year nominal prices . B ) True. C) we can't know whether the nation is experiencing deflation d ) we can't know whether the nation is experiencing inflation with out any previous price records . What we have is only a new base year every year . All years are new base years .
Explanation: