Answer:
Debit Credit
Depreciation $2,000
Accumulated depreciation $2,000
Explanation:
The formula for calculating the depreciation of the office equipment is given below:
Depreciation=(cost of equipment-salvage value)/useful life
In this question,
cost of equipment=$9,000
Salvage value=$3,000
useful life=3 years
Depreciation=(9000-3000)/3=$2,000
The adjusting entry which shall be recorded in respect of the above calculated depreciation is given below:
Debit Credit
Depreciation $2,000
Accumulated depreciation $2,000
Answer: There are about 36,899 McDonald's restaurants all over the world, where more than 375,000 people are employed, as of the end of 2016. These restaurants can be found in more than 120 countries on Earth, and they serve roughly 68 million customers each day, which makes them one of the most used chains of restaurants ever.
Answer:
Accounting
Explanation:
Accounting is the process of recording, measuring and presenting the fnancial information of a company. Accounting allows to understand and analyze the financial health of an organization and make the appropiate decisions based on that. Because of this, the answer is that the system that maintains records of a company's operations and then communicates that information to decision makers is referred to as accounting.
d.
"I would prefer to walk out of the deal in the end with something to show for the money I put in."
b. the degree that changes in a good's price affect the quantity demanded by consumers.
c. the amount of complements and substitutes that a good or service has.
d. the change in a good's price after demand rises.
B) liabilities
C) purchases
D) on account
Business exercises that modify the accounting equation are alluded to as transactions. Subsequently, choice (A) is exact response.
These are the essential monetary occasions that influence an organization's monetary position and are kept in its bookkeeping records. Transactions include changes in resources, liabilities, and value, and they are the reason for staying with track of a's monetary presentation and position.
Liabilities, buys, and on account - are connected terms, however they are not the particular term that includes a wide range of business exercises that influence the accounting condition.
Consequently, choice (A) is precise response.
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Answer:
A
Explanation:
b. Paid-In Capital.
c. Cash.
d. Retained Earnings
D. Retained Earnings. Net income is a nominal or temporary account. All nominal income or expense accounts must be closed at every end of the accounting cycle using the Income Summary account. The Income Summary account is then closed into Retained Earnings.