Answer:
Wow! that a really cool fact also kinda creppy
Explanation:
Answer:
Option 1 is correct because accumulated depreciation account is contra asset account and has a credit balance that is adjusted in the balance sheet. This accumlated depreciation is adjusted against the value of the asset when the asset is sold or disposed off.
Explanation:
Other options are incorrect because Accumulated depreciation is contra asset account and is credit in nature, not debit in nature. Furthermore, saying that accumulated depreciation account is contra revenue account which is also incorrect.
Answer:
$359,000
Explanation:
Total Bond issue costs can be calculated by adding all the cost related to the issue of bond.
Bond Certificate printing cost = $24,000
Legal fees paid = $90,000
CPA registration = $15,000
Underwriting Commission = $230,000
Total Bond issue costs = $359,000
After adding all the cost we reached at 359,000 and its closest to Option A 360,000
Answer:
a. a lawful action that is not a tort.
Explanation:
A tort refers to some wrongful act or some infringement of any right which is other than under any contract which leads to a legal liability. It is based on a civil law. People are liable for their actions taken against another both accidentally or intentionally.
In the context, the customers who is regular to Purity Cleaners tries to patronize or condescend OK Dry Cleaners instead of Purity Cleaners. This is lawful action, however not a tort.
Answer:
C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000
Explanation:
Assuming for now that credit customer will avail the cash discount, the following journal entry shall be made on November 10 by Flores mills in respect of credit sales made by it.
Debit Credit
Accounts receivable $7,840
Cash discount $160
(8000*2%)
Sales $8,000
Based on the above discussion, the answer shall C.) Accounts receivable 7,840 Cash discounts 160 Sales 8,000
