Accounting software can assist with which two of the following tasks? B. tracking bills that need to be issued to customers and D. monitoring after-sales services owed to customers. Many businesses utilize accounting software to manage their outstanding bills and monitor the performance of their sales and services. This helps companies oversee all incoming and outgoing funds to ensure proper budgeting and allocation of resources.
Peanut prices in Malaysia would be expected to rise.
Answer:
Valuation account = $80,000
Explanation:
Details provided:
The valuation allowance acts as a reserve for doubtful debts.
Mentioned below:
Total Deferred tax asset = $160,000 × 50% = $80,000
Total benefited Deferred tax asset = $160,000 × 50% = $80,000
Calculating the Valuation account:
Valuation account = Total Deferred tax asset - Total benefited Deferred tax asset
Valuation account = $160,000 - $80,000
Valuation account = $80,000
To record the depreciation expense for 2019, the journal entry includes: Debit Depreciation expense for $6,400 and Credit Accumulated depreciation for $6,400. The calculated accumulated expense for the period is established at $33,600. Depreciation represents the systematic allocation of an asset's cost, derived by the formula: Depreciation = (Cost - salvage value)/estimated life. The determined depreciation of $15,000 accumulated over a four-year duration equates to $60,000, leaving us with a net book value of $40,000. With an extended life of 5 years for the asset, the revised depreciation equates to new depreciation expenses of $6,400 to finalize the book value at the end of 2019 at $33,600.
Answer:
Present Value = $290.20
Explanation:
To determine the present value of a future sum, you can use this formula:
PV = FV / (1 + i)N
In this equation, i represents the annual interest or discount rate, while t signifies the years until the payment is acquired.
PV = Present Value =?
FV = Payment = $4,400
i = 8.3% = 0.083
N = 20 - 6 = 14
PV = $4400 / (1 + 0.083)(20 - 6)
PV = $4400 / (1.083 * 14)
PV = $4400 / 15.162
PV = $290.1992
Present Value = $290.20 (Rounded)
