0
What else can I help you with?
You deposit 700 in an account that pays 8 percent interest compounded yearlyfind the balance after 13 years?
You will have 1903.737 dollars in your account at the end of 13 years. The year wise end balance will be:756816.48881.798952.3421028.531110.8121199.6771295.6511399.3031511.2471632.1471762.7191903.737This is under the assumption that you don't deposit any fresh funds into your account and initial 700 dollars + the accumulated interest is all that is available in the account.
What does it mean to be a unit of account apex?
A unit of account is one of the primary functions of money, serving as a standard numerical unit of measurement that allows individuals and businesses to value goods and services consistently. It provides a common basis for pricing, making it easier to compare the value of different items. By facilitating clear communication about value, it enhances economic transactions and record-keeping. In essence, it helps simplify complex economic interactions by providing a stable metric for measurement.
What does AppleID mean?
Apple ID is a personal account used by Apple users to access various services and features offered by Apple, such as the App Store, iCloud, Apple Music, and more. It typically consists of an email address and a password, allowing users to manage their devices, purchase apps, and store data securely in the cloud. An Apple ID also enables synchronization across multiple Apple devices, enhancing user experience by providing seamless access to purchased content and services.
Of the following is part of the four steps in closing or terminating an account?
The four steps in closing or terminating an account typically include: 1) Reviewing the account to ensure all transactions are settled and no outstanding debts exist; 2) Notifying the account holder of the closure process and any final actions needed; 3) Executing the closure by formally shutting down the account; and 4) Providing the account holder with a confirmation of the closure for their records. Each step is crucial to ensure a smooth and clear termination process.
Components considered when relative value units are estalished?
Relative value units (RVUs) are established based on three primary components: the work of the healthcare provider, the practice expenses associated with delivering care, and the malpractice costs related to the service. The provider work component considers the time, skill, and effort required for a service. Practice expenses account for overhead costs, such as staff salaries and facility maintenance. Lastly, malpractice costs reflect the insurance and liability associated with providing care.
What is accumulated depreciation?
The accumulated deprecation is the all the depreciation amounts should be the accumulated depreciation.
What is the journal entry for providing service on account?
debit accounts receivablecredit services revenue
What is the journal entry accumulated depreciation?
[Debit] Depreciation account [Credit] Accumulated depreciation
Why do you need the accumulated depreciation account?
Accumulated Depriciated account is kept mostly for TAX purposes but also gives you face value of your assets.
What are the examples of capital contra account?
is accumulated depreciation a contra account
Is accumulated depreciation an owner's equity account?
No. It is a contra asset account
What type of account is accumulated depreciation and how is it reported in the financial statements?
Accumulated depreciation is a contra-asset account and show in the asset section of the Balance Sheet. It is called contra-asset account because contrary to any asset account Acc. Dep. is a credit type of account. The offset of Accumulated depreciation is to Debit the expense account Depreciation.
Is it customary for the depreciation expense account and the accumulated depreciation account to be equal?
No. Accumulated depreciation is depreciation accumulated every year and it will only increase and won't decrease. Depreciation expenses is incurred every year.
Is Accumulated depreciation account is an expense account?
No. Accumulated Depreciation is a contra-account which appears on the asset side of the Balance Sheet. It is a credit balance account which reduces the value of Fixed Assets to reflect their declining value due to age and use. The normal offset to an entry to the Accumulated Depreciation account is a debit to Depreciation Expense.
Is accumalted depreciation a liability?
No, even though accumulated depreciation has a credit balance, it is shown under assets. Accumulated depreciation is a contra T-account to a fixed tangible asset. For example, "Accumulated depreciation machines" is a contra T-account to "Machines". Contra T-accounts are presented together with the T-account they are connected with. Therefore, accumulated depreciation is shown on the debit side with assets. As it has a credit balance, the balance is subtracted. (The sign of a T-account 'flips' when the T-account is included on the opposite side on the balance sheet.)
Is accumulated depreciation a contra asset account?
Yes
Example of Contra-Asset Account?
Accumulated Depreciation
