Answer:
Cumulative cash flow - $420
Net cash flow
Jan = $100
Feb= $150
Mar= $90
Apri -$55
May = $25
June -0
Explanation:
Jan - Feb - Mar - Apr - May - June
sale receipt 300 350 300 350 400 300
Disbursement (200) (200) (210) (295) (375) (300)
Net cash flow 100 150 90 55 25 0
Cumulative balance = $420
The approval in which Greg's agrees to buy Hal's sports store on condition that he is approved by first state bank for the financing is condition precedent. The condition precedent is a condition that is required in order something else to occur<span> and must come to pass before a specific contract is considered.</span>
Answer:
The machine has a useful life or 4 years and residual value of $1400 so its total The Depreciable Amount is $21,600 (22000-1400)
If we use straight line method depreciation in each year will be 21,600/4=$5400
If we use Units of production method then:
Year 1= 21,600*4120/10300=$8640
Year 2=21600*3090/10300=$6480
Year 3=21600*2060/10300= $4320
Year 4= 21600*1030/10300=$2160
If we use the double-declining method
Rate of Depreciation = 1/4*2=50%
Year = 0.5*21600=$10800
Year 2=0.5*(21600-10800)=$5400
Year 3= 0.5*(10,800-5400)= $2700
Year 4= (5400-2700)= 2700
Explanation:
Answer:
A
cash 15,000 debit
accounts receivable 15,000 credit
B
cash 150 debit
gift card liaiblity 150 credit
C
accounts receivable 4,000 debit
services revenue 4,000 credit
D
cash 2,250 debit
unearned revenue 2,250 credit
E
accounts receivable 125 debit
service revenues 125 credit
Explanation:
A
we increase cash and decrease the customers accounts
B
we record the cash proceeds and use a liability for the obligation in the near future to provide services to a customer
C
we recognize the revenue and increase our accounts receivable
D
as the colleciton is in advance the revenue is not earned. this is a liability as we now have the obligation to perform services in the near future
E
we must match the revenue whn the time it occurs and that time was february not march.
The answer for this one, is “quantity sold.”
