I NEED HELP!! THIS IS SO CONFUSING!!
Explanation:
AD decreas price level increases and real GDP increase
Incurring an expense for advertising on account would be recorded by:
a. Is the primary standard-setting body in the United States.
b. Is governed by the U.S. Securities and Exchange Commission.
c. Can overrule the FASB when their policies disagree.
d. Promotes the use of high-quality, understandable global accounting standards.
Complete Question:
Incurring an expense for advertising on account would be recorded by:
Group of answer choices
A) Debiting a liability account.
B) Crediting an asset account.
C) Debiting an expense account.
D) Debiting an asset account.
Answer:
C) Debiting an expense account.
Explanation:
Incurring an expense for advertising on account would be recorded by debiting an expense account.
This ultimately implies that, when a business firm incurs an expense such as on advertising its goods or services, the appropriate account on the balance sheet to record this will be to debit the advertising expense account and then credit the account payable.
In order to implement expansionary policy, the goverment and Central Bank must government spending, taxes, and interest rates. A increase, increase increase B. increase decrease, decrease C. decrease increase increase D. decrease decrease, decrease
Answer:
B. increase decrease, decrease
Explanation:
Expansionary policies are measures aimed at stimulating economic growth. They are applied during times of recession and depression. Expansionary policies work by increasing the money supply in the economy. These policies increase liquidity in the market, thereby increasing the demand for goods and services.
Increasing government spending is an expansionary fiscal policy. Increased spending means releasing more money into the economy. Decreasing taxes imply individuals and business will pay lower taxes than before. The results in an increase in disposable income and an increase in demand.
The interest rate represents the cost of borrowing money. When the interest rates are high, individuals and businesses find borrowing uneconomical. When the interests are decreased, the cost of borrowing reduces, which encourages increased borrowing for consumption and investments.
An increase in the firms receivable turnover ratio means that:
Answer:
interest generated in a business
This credit is a non-refundable tax credit for qualified higher education tuition and
expenses paid for an eligible student.
A) American Opportunity Tax Credit (AOTC)
B) Lifetime Learning Credit (LLC)
C) Adding Brain Credit (ABC)
D) College Discount Credit (CDC)
18
E) 4 Year College Credit (4Y2C)
Answer:
b
Explanation:
Offering customers different sized garbage bins for different disposal fees/prices, is one form of _______________ system.
Answer: VARIABLE-RATE OR “PAY-AS-YOU-THROW”
Explanation:
Offering customers different sized garbage bins for different disposal fees/prices, is one form of variable rate system.
Who are customers?
Customers are individuals or organizations who purchase goods or services from a seller or provider. They are the people or entities who pay for and use the products or services that a business offers.
Customers can be individuals, households, businesses, or government entities, and they may make purchases for personal or professional reasons.
The relationship between a business and its customers is a crucial aspect of its success, as satisfied customers are more likely to return for future purchases and recommend the business to others.
Giving customers different sized garbage bins for different disposal fees/prices. It is one form of variable rate system.
Learn more about customers here:
https://brainly.com/question/14365331
#SPJ6
Raymond purchased a utility trailer on 2/18/2018. The trailer was delivered on 3/10/2018. He added side rails and a lift to the bed of the trailer. The work was completed and the trailer ready for use on 4/2/2018. What is the date placed in service?
a. 02/18/2018
b. 03/10/2018
c. 04/02/2018
d. 01/01/2018
Answer:
B. 03/10/2018
Explanation:
The date placed in service is 03/10/2018 since this was the date that this trailer or machine was delivered for use according to the question.
The date in service can be defined to be the date that an inventory item such as this machine was made available for service or in other words made available for use. We use this date to calculate the depreciation on the serial inventory.
Answer:
i think its d
Explanation:
Which of the following is a cost of not carrying enough inventory?
a. possible worker layoffs.
b. customer disappointment
c. all of these
d. lost sales.
Answer:
c
Explanation:
if you don't have enough to sell you lose sales.
You also lose selection and can also not have what a customer wants so that would leave in customer disappointment.
then you could also not have alot of money to pay your workers which would possibly result in worker layoffs
Even if a company has accurate sales forecast information calculated from multiple methods and based on solid data, the company should:
Answer:
prepare for multiple possible scenarios so it can react to whatever happens in the market
Explanation:
Sales forecast is a method of predicting futures sales volumes and patterns. It is used by businesses to make informed decisions on resource allocation.
Sales forecast determines short term and long term performance of the business.
However having accurate sales forecast information calculated from multiple methods and based on solid data does not give full assurance based on fluctuating market forces.
The business will need to prepare for multiple possible scenarios so it can react to whatever happens in the market.
A company should be prepared by ensuring proactiveness to other possible
conditions not contained in the forecast.
A company having accurate sales forecast information calculated from
multiple methods and based on solid data doesn't guarantee that deviations
can't occur. Sales information can only be forecasted and other activities can alter the speculated sales information.
For example, the lockdown during the cov-id era caused most
shops to be shut down as a result of the self isolation carried out in
respective homes. This is a deviation in the norm and companies who
weren't prepared for it ran into debts and became liquidated.
Read more on https://brainly.com/question/19533684
The accounting effects of inventory sales across companies within a consolidated entity are removed when preparing consolidated financial statements because:_______
Answer:
The accounting effects of inventory sales across companies within a consolidated entity are removed when preparing consolidated financial statements because:
- usually from a consolidated statements, transactions with outside parties are only reflected.
- usually from a consolidated perspective, there is neither a sale nor a purchase has occurred.
Turner Company owns 10% of the outstanding stock of ICA Company. During the current year, ICA paid a $5.10 million cash dividend on its common shares.
What effect did this dividend have on Turner's 2021 financial statements? (Enter your answers in whole dollars, not in millions. Amounts to be deducted should be indicated with a minus sign.)
Balance Sheet
Cash $510,000
xxxx $
Income Statement
Dividend Revenue $510,000
I do not know what the second Balance Sheet account should be and the amount.
Answer:
Turner Company
The effect that this dividend had on Turner's 2021 financial statements are:
Balance Sheet
Cash $510,000
Retained Earnings $510,000
Income Statement
Dividend Revenue $510,000
Explanation:
a) Data and Calculations:
Shareholding in ICA Company = 10%
ICA paid cash dividend amounting to $5.10 million
Turner's share of the dividend = $510,000 ($5,100,000 * 10%)
b) The receipt of the cash dividend by Turner will increase its Cash balance by $510,000. It will also increase the Dividend Revenue by $510,000, thereby increasing the profit for the year. If Turner does not pay dividends, it will also increase the Retained Earnings by the same amount.
Waterway Company acquired a plant asset at the beginning of Year 1. The asset has an estimated service life of 5 years. An employee has prepared depreciation schedules for this asset using three different methods to compare the results of using one method with the results of using other methods. You are to assume that the following schedules have been correctly prepared for this asset using (1) the straight-line method, (2) the sum-of-the-years'-digits method, and (3) the double-declining-balance method.
Year
Straight-Line
Sum-of-the-
Years'-Digits
Double-Declining-
Balance
1 $12,420 $20,700 $27,600
2 12,420 16,560 16,560
3 12,420 12,420 9,936
4 12,420 8,280 5,962
5 12,420 4,140 2,042
Total $62,100 $62,100 $62,100
Answer the following questions.
What is the cost of the asset being depreciated?
Cost of asset $
Answer:
$69,000
Explanation:
The double-declining method uses twice the rate of the straight-line depreciation method.
In this case, we need to determine the depreciation rate under the straight-line method. The asset has a useful life of 5 years.
the depreciation rate = 1/5 x 100
=0.2 x 100
=20%
The Depreciation rate for the double-declining method is 40%. The straight-line method considers salvage value at the beginning, but double-declining depreciates until the salvage value.
In the first year under the double-declining method, the depreciation amount was $27,600.
It means 40% of the asset cost is $27,600.
The asset cost is 100%
40%=$27,600
100% = 27,600/40 x 100
=$690 x 100
=$69,000
Asset cost = $69,000