salvage value is not consider directly in the determination of
the depreciation amount with the
Double Declining Balance Depreciation method
This is because, depreciation is calculated on beginning book value of asset or Purchase value for 1st year
salvage value is not consider directly in the determination of the depreciation amount with the product...
MULTIPLE CHOICE WRITE THE LETTER OF THE CORRECT ANSWER IN THE SPACE PROVIDED BEFORE THE QUESTION NUMBER. 3.11. The Customers List functions as the A. General Ledger B. Accounts Receivable Ledger C. Income Account D. Primary Account for each The Sales by Customer Detail report shows information about Customer A. Credit Sales B. Cash Sales C. Sales on Account D. All of the above QUICKBOOKS ONLINE PLUS: A Complete Course 2017 3.13. A Credit Memo s prepared to record a...
plz help!
CHAPTER 3–Sales and Receivables: Service Items 222 END-OF-CHAPTER QUESTIONS TRUE/FALSE ANSWER THE FOLLOWING QUESTIONS IN THE SPACE PROVIDED BEFORE THE QUESTION NUMBER. (Note: the question numbers do not refer to the chapter objectives.) 3.01. An Invoice is prepared to record a sale on account. 3.02. Using an incorrect date will not affect the results of reports. 3.03. You may never make corrections to bank deposits. 3.04. An Invoice may be exported to Excel. 3.05. A new Product/Service item...
ANSWER THE FOLLOWING QUESTIONS IN THE SPACE PROVIDED BEFORE THE QUESTION NUMBER. (Note: the question numbers do not refer to the chapter objectives.) 3.01. An Invoice is prepared to record a sale on account 3.02. Using an incorrect date will not affect the results of reports. 3.03. You may never make corrections to bank deposits. 3.04. An Invoice may be exported to Excel. 3.05. A new Product/Service item cannot be added when creating a Sales Receipt. 3.06. A Customer Balance...
222 CHAPTER 3-Sales and Receivables: Service Items END-OF-CHAPTER QUESTIONS TRUE/FALSE ANSWER THE FOLLOWING QUESTIONS IN THE SPACE PROVIDED BEFORE THE QUESTION ook NUMBER. (Note: the question numbers do not refer to the chapter objectives.) 3.01. An Invoice is prepared to record a sale on account. c om 3.02. Using an incorrect date will not affect the results of reports, 3.03. You may never make corrections to bank deposits motni 3.04. An Invoice may be exported to Excel 3.05. A new...
A tenant makes a $1485 payment on December 28th to pay $35 for a billed November late charge and $1450 for January rent. Provide the journal entry for the cash receipt for both cash and accrual accounting. A $1200 check is written on January 2nd for an annual maintenance contract for the period of January to December. Provide the journal entry for the cash disbursement for both cash and accrual accounting. A $1,000,000 check is received as an additional investment...
ste checks in the amount of $28,000. In 32. In the month of May, Kijak Company Inc. wrote checks in the amount of June, checks in the amount of $38,000 were written. In May, $25.000 were presented to the bank for payment, and $33,000 in June. What is the am outstanding checks at the end of May? A) $3,000 B) $5,000 C) $8,000 D) $10,000 33. Cash equivalents include each of the following except A) bank certificates of deposit. B)...
journalize the following entries. i do not need the dollar
amount just need to know which accounts to charge
TRANSACTION TRANSACTION TRANSACTION DESCRIPTION Billed Reynaldo & Marey Rodriguez for their wedding. Invoice #217, terms 2/10, n/30. The Rodriguezes had previously made a $1,500 deposit. 45 hours Event Planning & Service @ S125.00 per hour 8 packages Like-China 9" Plates 8 packages Like-China 6" Plates 8 packages Like-Crystal 8 oz. Stemware January 12 & packages Like-Linen Dinner Napkins 8 packages Like-Linen...
You are considering a new product launch. The project will cost $800,000, have a four-year life, and have no salvage value; depreciation is straight-line to zero. Sales are projected at 200 units per year; price per unit will be $18,300, variable cost per unit will be $15,300, and fixed costs will be $630,000 per year. The required return on the project is 12 percent, and the relevant tax rate is 34 percent. a) Based on your experience, you think the...
Application & Analysis Mini Cases Budgeting for a Single Product In this activity, you will be creating budgets for a single product for each of the months in an upcoming quarter. Select a product that you could purchase in large quantities (at a Sam's Club or other warehouse retail chain) and repackage into smaller quantities to offer for sale at a sidewalk cafe, a sporting event, a flea market, or other similar venue. Investigate the price and quantity at which...
Accounts Payable
Accumulated Depreciation-Building
Accumulated Depreciation-Leased Building
Accumulated Depreciation-Capital Leases
Accumulated Depreciation-Equipment
Accumulated Depreciation-Leased Equipment
Accumulated Depreciation-Leased Machinery
Accumulated Depreciation-Machinery
Advertising Expense
Amortization Expense
Airplanes
Buildings
Cash
Cost of Goods Sold
Deferred Gross Profit
Deposit Liability
Depreciation Expense
Equipment
Executory Costs
Executory Costs Payable
Gain on Disposal of Equipment
Gain on Disposal of Plant Assets
Gain on Lease
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Leased Asset
Leased Buildings
Leased Equipment
Lease Expense
Leased Land...