Answer:
$90,400
Explanation:
Mondale Winery depreciates it's equipment by making use of the group method.
The cost of equipment that was purchased in 2021 totaled $565,000
The residual value of the equipment was $54,000
The group depreciation rate is 16%
= 16/100
= 0.16
Therefore, the annual depreciation can be calculated as follows
Annual depreciation= Cost of equipment × Group depreciation rate
= $565,000×0.16
= $90,400
Hence the annual depreciation for the group is $90,400
The Date sheet is a statement for daily business transactions. it includes the list of checks and balances for the office for a specific date of service.
A business transaction is an economic event involving a third party that is documented in the accounting system of a company.
Such a transaction needs to have a monetary value. Business transactions include, for example:
In a specific diary, such as a purchasing journal or sales journal, high-volume commercial transactions may be documented.
These journals are used to record business transactions, which are then regularly compiled and submitted to the general ledger.
Transactions with a lower volume are submitted straight to the general ledger. The financial accounts of the company eventually include a summary of these transactions.
A source document must always be used to back up a business transaction. A purchase order, for instance, might be used to facilitate the purchase of items from a supplier and the payment of wages to an employee.
Learn more about business transactions here
brainly.com/question/19959208
#SPJ4
Answer:
a, b
Explanation:
It is important to note that a lessor's goal is to make a profit, thus he would be more concerned about knowing what is the value realized after subtracting the lease payments from his income taxes and any maintenance expenses that must be incurred as per the lease agreement.
In order to be cost efficient, he might as well determine the net cash outlay of the lease agreement.
Answer:
The journal entry is as follows:
Cash A/c Dr. $1,176
Sales returns and allowances A/c Dr. $600
Sales discounts A/c Dr. $24
To accounts receivable $1,800
(To record the receipt of the check)
Workings:
Sales discount = 2% of ($1,800 - $600)
= 0.02 × $1,200
= $24
