Answer:
Listen, dont be disrespectfull, and learn from it
Explanation: Dont dig a deeper hole
Answer:
depreciation expense per year 8,000
Explanation:
<u>The first step,</u> is to calculate the depreciable amount for the asset:
cost - salvage value = amount subject to depreciation
43,250 - 3,250 = 40,000 = depreciable amount
<u>Then,</u> we calculate the depreciation per year:
depreciable amount/ useful life = depreciation per year
40,000/5 = 8,000
In some particular cases, the first year the asset enter the accounting it could be for a period of half the accounting period, so only half-year depreciation is appliedon the first year.
Answer:
B. Must be written to be enforceable
Explanation:
In the United state, sale of personal property for $500 or more must be written to be enforceable. These kind of contracts are said to be within the statute of fraud.
These types of contracts are called Sales contracts which is an agreement between the buyer and seller. For the amount of money involved, a written contract provides security and peace to the mind of all those involved in the contract, hence why deals above $500 must be written to be enforceable.
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Answer:
The answer is D.
Explanation:
Value of cash received is :
10,000 shares x $75
=$750,000
And that's a debit as it is shown in the question because cash was received.
Now the credit side.
Value of preferred stock is $50
So we have:
$50 x 10,000 shares
=$500,000 preferred shares.
Paid-in Capital in Excess of Par ValuePreferred Stock is $25 ($75 -$50)
So the value will be $25 x $10,000
=$250,000
