On January 1 of this year, Diaz Boutique pays $180,000 to modernize its store. Improvements include new floors, ceilings, wiring, and wall coverings. These improvements are estimated to yield benefits for 8 years. Diaz leases (does not own) its store and has 5 years remaining on the lease. 1. & 2. Prepare the journal entry to record the cost of modernization and amortization at the end of this current year.

Answers

Answer 1

If on January 1 of this year, Diaz Boutique pays $180,000 to modernize its store. the journal entry to record the cost of modernization and amortization at the end of this current year is: Debit Leasehold Improvements $180,000,Credit Cash $180,000.

How to prepare the journal entry?

Jan 1

Debit Leasehold Improvements $180,000

Credit Cash $180,000

(To record cost of modernization)

Dec 31

Debit Amortization expense - Leasehold improvements $36,000

Accumulated amortization - Leasehold improvements $36,000

($180,000 /5 years)

(To record cost of amortization)

Therefore the journal entry to record cost of modernization is Debit Leasehold Improvements $180,000,Credit Cash $180,000.

Learn more about journal entry here:https://brainly.com/question/28390337
#SPJ1


Related Questions

QS 7-10 (Algo) Aging of receivables method LO P3 Net Zero Products, a wholesaler of sustainable raw materials, prepares the following aging of receivables analysis. Total $ 185,000 0 $ 100,000 1% Accounts receivable Percent uncollectible Days Past Due 31 to 60 $ 17,000 4% 1 to 30 $ 38,000 2% 61 to 90 $ 14,000 6% Over 90 $ 16,000 10% 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $3,000 credit. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. Accounts receivable X Percent uncollectible (%) Estimated Uncollectible Not due: = 1 to 30: X 31 to 60 X 61 to 90: X = Over 90 x Estimated balance of allowance for uncollectibles $ Required Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $3,000 credit. View transaction list Journal entry worksheet < 1 > Record estimated bad debts assuming that allowance for Doubtful Accounts has a $3,000 credit balance. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal

Answers

Part-1  Computation of Estimated Uncollectible - Dhaliwal

Account Receivable  (a% of uncollectible (b)Uncollectible amount (a*b)

Not Due $1,00,000.00    1%                                   $1,000.00

1 to 30 $38,000.00           2%                                      $760.00

31 to 60 $17,000.00          4%                                       $680.00

61 to 90 $14,000.00            6%                                  $840.00

over 90 $16,000.00          10%                               $1,600.00

Estimated Balance of allowance for uncollectible $1,85,000.00   $4,880.00

 Part 2: Journal Entry

Account Titles and Explanation Debit Credit

Bad Debt Expenses

(4880-3000)                                          $1,880.00  

Allowance for doubtful accounts   $1,880.00

An account may be the document in a gadget of accounting wherein a business records debits and credits as proof of accounting transactions. as a consequence, the bills receivable account shops information approximately billings to customers, as well as reductions of those billings due to payments from clients.

3 specific types of debts in accounting are actual, private, and Nominal Accounts. the real account is then categorized into subcategories – Intangible real account, Tangible actual account. additionally, 3 distinct sub-forms of non-public accounts are natural, representative, and synthetic.

Learn more about accounts here: https://brainly.com/question/25746199

#SPJ4

which of the following is​ true? question content area bottom part 1 a. ideal standards are based on currently attainable conditions. b. practical standards are based on ideal conditions. c. a standard cost is the budgeted cost for one unit. d. standards should never be updated.

Answers

c. a standard cost is the budgeted cost for one unit.

Standard cost is an estimated cost that the firm decides is appropriate for the production of the goods and services or for operating under typical conditions. The company derives this cost through historical data analysis or from time and motion studies. The corporation uses these pre-determined expenses as the target costs when comparing them to actual costs; the difference is the variation.

The resulting variance is then used by the management of the company to identify and address the root cause, generate additional projections for the upcoming years, and make business-related decisions. Because of how frequently the situation changes and how many unpredictable factors are involved, it almost always differs from the actual costs.

To know more about standard cost visit:
https://brainly.com/question/4557688
#SPJ4

Which of the following is true of maquiladoras?They discourage foreign businesses from outsourcing.They assess tariffs only on the value-added work done.They originated in China.None of theseAll of these

Answers

They assess tariffs only on the value-added work done is true of maquiladoras.

Due to the fact that maquiladoras permit companies to operate duty- and tariff-free, tariffs are only assessed on the value-added work completed. A Mexican assembly facility known as a maquiladora is one that imports goods duty- and tariff-free.

A firm that permits factories to be mostly duty- and tariff-free is known as a maquiladora or maquila. These factories take raw materials, put them together, make something out of them, or process them, then export the finished item.

A tariff is a levy imposed on the import or export of products by the government of a nation or by a supranational union.

To learn more about Tariffs visit: https://brainly.com/question/14971006

#SPJ4

the risk-free rate is 6%, and the expected return on the market is 18%. what is the expected return on a stock with a beta of 1.3?

Answers

The risk-free rate is 6%, and the expected return on the market is 18% and the is the expected return on a stock with a beta of 1.3 is 21.6%.

The risk-free rate is that the rate of come back offered by an investment that carries zero risk. each investment plus carries some level of risk, but tiny, that the safe rate are some things of a theoretical idea. In observe, it's thought-about to be the charge per unit paid on short-run government debt.

If a stock's beta worth is 1.3, it means, on paper this stock is half-hour a lot of volatile than the market. Beta calculation is finished by multivariate analysis that shows security's response therewith of the market.

To learn more about risk-free rate here

brainly.com/question/28168891

#SPJ4

which analytics feature relies on machine learning for measuring conversions that can't be spotted through direct observation?

Answers

Modeling is the analytics feature relies on machine learning for measuring conversions that can't be spotted through direct observation.

What do analytics mean in everyday language?

Analytics is a subfield of computer science that employs mathematics, statistics, and machine learning to find meaningful patterns in data. The process of sifting through massive data sets to discover, comprehend, and disseminate new information is known as analytics, also referred to as data analytics.

What is the definition of "analytics"?

Data analytics is the process of examining data sets to spot trends and draw conclusions about the information they contain. More and more often, data analytics is done with specialized hardware and software.

To know more about Analytics visit:

https://brainly.com/question/28191959

#SPJ4

jerry wants to produce rectangular boxes. each box will have a brass bottom, platinum plated sides and a gold plated top, and each box will have a volume of 500 cubic inches. the costs of the materials are

Answers

Jerry wants to produce square bins. each box may have a brass bottom, platinum plated aspects and a gold plated pinnacle, and each box can have a quantity of 500 cubic inches. the fees of the materials are We should discover the value surface place.

In manufacturing, research, retail, and accounting, a prices is the cost of money that has been used up to supply a few component or deliver a service, and consequently isn't to be had to be used anymore. In business, the price can be one in all acquisition, in which case the amount of coins expended to accumulate it's miles counted as expenses .

Charges are the quantities that a commercial enterprise incurs as a way to make goods and/or offer offerings. fees are crucial to business employer due to the reality they: Are the component that drains away the earnings made through a business enterprise. Are the difference among making an awesome and a terrible earnings margin.

Learn more about costs  here:

https://brainly.com/question/25811981

#SPJ4

madd, aa, and sadd are examples of: a. workplace-based drug education programs. b. voluntary health agencies. c. state education programs. d. none of these are correct.

Answers

Madd, aa, and Sadd are examples of: b. voluntary health agencies. An organization that offers assistance or services to people, groups, or nations and is made up of volunteers or runs with their help.

Over 100,000 community health workers work for the Voluntary Health Association of India (VHAI), a non-profit organization that has been active in India for more than 40 years. It has 24 State Voluntary Health Associations as members. The goal of voluntary health agencies, often known as patient advocacy groups, is to improve and safeguard the health of a particular population group or to fight a certain illness, disability, or collection of illnesses and disabilities. Trade associations, trade unions, intellectual societies, professional associations, and environmental organizations are typical examples. There are 333 charities close to India. Generally speaking, a voluntary organization works to strengthen civil society. In the end, the members are the owners, but unlike owners of for-profit businesses, they accept responsibility for programs to address social needs even when they don't personally benefit financially from them.

Learn more about voluntary health agencies here

https://brainly.com/question/28167105

#SPJ4

in the economy of ukzten in 2010, gdp was $8000, consumption was $5000, investment was $3,000, government spending was $1500, and exports were $200. what were ukzten’s imports?

Answers

If in the economy of ukzten in 2010, gdp was $8000, consumption was $5000, investment was $3,000, government spending was $1500, and exports were $200. The  ukzten’s imports is: 1700.

How to find the  ukzten’s imports?

Given data:

Gdp= $8000

Consumption =$5000

Investment =$3,000

Government spending =$1500

Exports =$200

Let x represent the  ukzten’s imports

5000 + 1500 + 3,000 + (X+200) = 8000 X

9700 =8000 X

X = 9700 -8,000

X = 1,700

Therefore we can conclude that  the import is 1700.

Learn more about import here:https://brainly.com/question/27899202

#SPJ1

think about an organization you are familiar with. on the basis of the dimensions of ocp, how would you characterize its culture?

Answers

The OCP (organizational culture profile) framework's dimensions include regard for its workforce, a focus on teams, innovation, stability, and outcome orientation, among others.

It is a well-known retailer of consumer electronics in North America. The business operates brick-and-mortar or physical businesses throughout the area and also frequently engages in internet business. These qualities are in line with the company's culture. It does, however, lean more toward a culture that values results. An organization has an outcome-oriented culture when it places a strong emphasis on holding managers and employees responsible for their success and paying them according to their output.

learn more about dimension ocp here:

here:https://brainly.com/question/14594933

#SPJ4

a store is selling two mixtures of nuts in 20-ounce bags. the first mixture has 15 ounces of peanuts combined with five ounces of cashews, and costs $6.00. the second mixture has five ounces of peanuts and 15 ounces of cashews, and costs $8.00. how much does one ounce of peanuts and one ounce of cashews cost? question 9 options: $0.20 for peanuts and $0.60 for cashews $0.45 for peanuts and $0.25 for cashews there is no solution. $0.25 for peanuts and $0.45 for cashews

Answers

One ounce of peanuts costs $0.15, but one ounce of cashews costs $0.40. (Option B)

How do you calculate one ounce of peanuts and cashews?

Two nut combinations are available in 20-ounce packages at a retailer.

The first batch, which weighs 15 ounces of peanuts and 5 ounces of cashews, costs $4.25.

The price of the second blend, which contains 15 ounces of cashews and five ounces of peanuts, is $6.75.

Let the price per ounce of cashews and peanuts be x and y, respectively. After that, we have 

15x + 5y = 4.25...1

5x + 15y = 6.75 ...2

We arrive at x = $ 0.15 and y = $ 0.40 by solving equations 1 and 2.

So, one ounce of cashews costs $0.40, but one ounce of peanuts costs $0.15.

What is the linear system?

When the degree of the variable in the equation is 1, the system is said to be linear. One, two, or more than two variables could be present.

To know more about the linear system, visit:

brainly.com/question/20379472

#SPJ4

u.s.-based companies should turn to the for the most comprehensive source of export information. multiple choice bureau of economic analysis department of commerce department of the treasury economic adjustment office domestic policy council

Answers

U.S.-based companies should turn to the department of commerce for the most comprehensive source of export information.

The Department of Commerce works with businesses, universities, communities, and the Nation's workers to promote job creation, economic growth, sustainable development, and improved standards of living for Americans. The Department of Commerce was originally created as the US Department of Commerce and Labor on February 14, 1903. It was subsequently renamed the Department of Commerce on March 4, 1913, as the bureaus and agencies specializing in labor were transferred to the new Department of Labor.

The Department of Commerce is committed to helping U.S.Companies plan, develop and execute international sales strategies necessary to succeed in today's global export marketplace through the International Trade Administration.

Learn more about the department of commerce here:

https://brainly.com/question/17012577

#SPJ4

gion company is considering eliminating its windows division, which reported a loss for the prior year of $88,000 as shown below. segment income (loss) sales $ 1,113,000 variable costs 978,000 contribution margin 135,000 fixed costs 223,000 income (loss) $ (88,000) if the windows division is dropped, all of its variable costs are avoidable, and $144,950 of its fixed costs are avoidable. the impact on gion’s operating income from eliminating this business segment would be:

Answers

Answer:

Explanation:

i need help

On this

The impact on Gion’s operating income from eliminating this business segment would be an $8,000 increase.

What does operational income mean?

Operating income is the adjusted revenue of a business after all operating costs and depreciation have been taken into account. The charges incurred to maintain the operation of the business are known as operating expenses.

Is cash a form of operating revenue?

The cash that a company brings in through its main operations is known as operating cash flow. In most cases, a company's operational income and net operating income are the same. Even though the two terms occasionally diverge, operating income is frequently referred to as earnings before interest and taxes (EBIT).

To know more about operating income, visit:

https://brainly.com/question/14231012

#SPJ4

according to information found on the production analysis page of the inquirer, digby sold 1128 units of daft in the current year. assuming that daft maintains a constant market share, all the units of daft are sold in the nano market segment and the growth rate remains constant, how many years will it be before daft will not be able to meet future demand unless the company adds production capacity? exclude any existing inventory.

Answers

The number of years before daft  will not be able to supply future demand without increasing production capacity is one year, with a constant segment growth rate of 14%.

What do "demand" and "example" mean?

Demand is an economic notion that refers to a consumer's desire to buy products and services and willingness to pay a given price for them. Demand typically declines when a product's price goes up. The quantity of a good that consumers are willing and able to buy at various prices during a specific time is known as demand in economics. The term "demand curve" refers to the relationship between price and quantity demand.

To know more about demand visit:

https://brainly.com/question/13320101

#SPJ4

euro credits feature rollover pricing. multiple choice all of the options because of the rollover pricing feature, a euro credit may be viewed as a series of shorter-term loans, where at the end of each time period (generally three or six months), the loan is rolled over and the base lending rate is repriced to current libor over the next time interval of the loan. rollover pricing was created on euro credits so that euro banks do not end up paying more on euro currency time deposits than they earn from the loans. the lending rate on these euro credits is stated as libor x percent, where x is the lending margin charged depending upon the credit worthiness of the borrower. libor is reset according to a set schedule.

Answers

In order to prevent Euro banks from having to pay more for time deposits in Euros than they make from the loans, rollover pricing was implemented for Euro credits.

What does stock rollover mean?

When you rollover, you open the identical new position in a contract further out in time after closing your old position close to its expiration date. Simply said, a rollover is the process of carrying over your position from one month to the next.

What are the various rollover types?

Direct and indirect IRA rollovers are the two basic varieties, and it's critical to adhere to Internal Revenue Service (IRS) guidelines to prevent incurring taxes and penalties. The safest way to transfer assets from one retirement account to another is through a direct rollover because no money is handled by you during the transfer.

To know more about rollover pricing, visit:

https://brainly.com/question/29558087

#SPJ4

when producers signal customers, they are using a third-party to convince customers to buy. using a banner or sound to attract attention to their product. taking action to convey private information credibly. advertising the product's price using mass media.

Answers

When producers signal customers, advertising the product's price using mass media.

Communication that reaches a large audience through mass media can be spoken, broadcast, or written. This covers media such as radio, television, print and online newspapers and magazines, as well as advertising, movies, and the Internet. In the modern world, and especially in America, the media is a powerful influence.

People may experience terrible results including poverty, crime, violence, poor mental and physical health, and others as a result of the media's detrimental influence on society.

To know more about Mass Media here

https://brainly.com/question/29547879

#SPJ4

. in year 6, a donor gives $112,000 to a private not-for-profit entity to enable it to buy a new bus for transportation purposes. near the end of year 7, this money is used for the stipulated purpose. the donor made no provisions about the accounting for this acquisition. which of the following is true about the statement of activities for year 7? a. net assets without donor restrictions increased by $112,000. b. net assets with donor restrictions did not change. c. net assets without donor restrictions did not change. d. net assets with donor restrictions goes up by $112,000 and also down by $112,000.

Answers

Net assets without donor restrictions increased by $112,000. This funding is not controlled by donors. It so continues to be included in the net assets without donor limitations.

(Since the funds have now been used as intended, the statement of activities should reflect a $112,000 reclassification that reduces net assets subject to donor restrictions by $112,000 and increases net assets free of donor restrictions by the same amount.)

(Since the funds have been used as intended, the statement of activities should reflect a $112,000 reclassification to decrease net assets subject to donor restrictions by that amount and to increase net assets free of donor restrictions by that same amount. The NFP additionally lists salary expense of $112,000 as a fall in the net assets without donor limitations because this money was for a pay.)

To know more about Assets visit:

https://brainly.com/question/28144975

#SPJ4

jen logan bought a home in iowa for $110,000. she put down 20% and obtained a mortgage for 30 years at 512% . what are jen’s monthly payment and total interest cost of the loan?

Answers

The monthly payment is $499.65 and total interest cost is $91874.

What is Interest?

The fee you pay to borrow the money or the fee you charge to lend money is called interest. The most common way to represent interest is as a yearly percentage of the loan amount. The interest rate just on loan is known as this percentage.

The amount that a lender charges a borrower for the use of assets on top of the principle is known as the interest rate. The money generated from a deposit account at a bank or credit union is likewise subject to an interest rate.

P= 110000* (1-20%)= 88000

r= 5 1/2 ÷12 = 11/2400

n = 30 ×12 = 360

m= $499.65

To learn more about Interest

https://brainly.com/question/29480777

#SPj1

when interest rates rise, what happens to the price of federal government bonds? what happens to the price of state and local government bonds?

Answers

The yield on a bond is calculated by dividing its coupon payments by its market price; as bond prices rise, bond yields decrease. decreasing interest rates.

When interest rates increase, what happens to government bonds?

A fall in the price of a bond may result from an increase in interest rates. Federal taxes on municipal bond income are typically exempt, although state and local taxes as well as the federal alternative minimum tax (AMT) may apply.

Does purchasing bonds during an interest rate increase make sense?

Even when interest rates may be rising, it makes sense to include bonds in your investment portfolio. Bonds' interest component, a crucial element of total return, can aid in preventing price drops brought on by rising interest rates.

To know more about federal government bonds visit:-

https://brainly.com/question/7487708

#SPJ4

according to the video, what does not occur when a quota is imposed on a market that currently has free trade internationally?

Answers

When a quota is imposed on a market that currently has free trade internationally consumer surplus increases.

-goods that were previously more expensive can now be bought from overseas companies for less, boosting consumers' purchasing power and enabling them to stretch their income farther.

-goods they can make at lower relative costs can now be offered at greater prices in international markets, enhancing producers' profits in the process.

What is a Consumer Surplus?

When consumers pay less than they are willing to pay for a good or service, this is known as a consumer surplus. It's a gauge of the extra gain that consumers experience as a result of paying less than they would have otherwise.

To learn more about Consumer Surplus click here:

https://brainly.com/question/15416023?referrer=searchResults

#SPJ4

to avoid sharing control with someone they do not know or like, it would be most effective for the shareholders of a close corporation to

Answers

To avoid sharing control with someone they do not know or like, shareholders of a close corporation should restrict the transferability of shares to outsiders.

What is the work of a Shareholders?

A shareholder (also known as a stockholder) of a corporation is an individual or legal entity (such as another corporation, a governmental body, a trust, or a partnership) who is registered by the corporation as the legal owner of shares of a public or private corporation's share capital. Members of a corporation may be referred to as shareholders. A person or legal entity becomes a shareholder in a corporation when their name and other details are entered in the corporation's register of shareholders or members, and the corporation is not required or permitted to inquire about the beneficial ownership of the shares unless required or permitted by law.

So, the correct answer is to restrict the transferability of shares to outside persons.

To learn more about Shareholders:

https://brainly.com/question/25818989

#SPJ4

which of the following statements would be most effective in the closing of bad-news message? a. our products do not go on sale, but we hope you will continue to shop with us. b. because we want you to continue enjoying our healthy, easy-to-prepare meals, we are enclosing a coupon for your next order. c. again, we apologize for the inconvenience we have caused you. d. we hope you enjoyed our fresh meal ingredients and are sorry to lose you as a customer.

Answers

We regret losing you as a customer and hope you enjoy our fresh culinary products. The bad news message will be effectively concluded with this remark.

Delivering news that the audience does not want to hear, read, or absorb is the goal of a negative news message. The most crucial component of negative communication is sometimes known as an explanation. It is the element of a bad news message that explains why the terrible news was required and that the situation was treated seriously.

A letter, memo, or email that provides unfavorable or negative information that is likely to let the reader down, be offended, or even become angry is referred to as a "bad-news message" in business writing. It is often referred to as a bad message or an indirect message.

To learn more about bad news message

https://brainly.com/question/29571977

#SPJ4

ersonal managers, as the name implies, are primarily responsible for the personal well-being of their clients, leaving most business decisions to attorneys and booking agents.

Answers

True - Personal managers, as the name implies, are primarily responsible for the personal well-being of their clients, leaving most business decisions to attorneys and booking agents.

A legal professional is a person who practices law. The function of a lawyer varies greatly across specific criminal jurisdictions. A lawyer may be classified as an advise, legal professional, barrister, canon attorney, civil regulation notary, recommend, counselor, solicitor, prison executive, or public servant — with every position having one-of-a-kind capabilities and privileges.[1] operating as a legal professional typically involves the sensible application of abstract legal theories and knowledge to clear up precise problems. a few legal professionals additionally paintings mostly in advancing the pursuits of the regulation and criminal career.

Learn more about attorneys here

https://brainly.com/question/20397360

#SPJ4

an investment that cost $30,000 provided annual cash inflows of $9,000 per year for five years. the desired rate of return is 10%. the internal rate of return from the investment is: (pv of $1 and pva of $1)

Answers

$4.117.2

Year               Cash flow          PVF at 10%            PV of Cashflow ($30,000)  

0                     $30,000                   1.00                            ($30,000)        

1-5                  $9,000.                 3.7908.                        $34.117.2

                                                       NPV                         $4.117.2

So Internal rate of return is greater than desired return    

To know more about Internal rate of return visit https://brainly.com/question/14120890                                                                                                                                      #SPJ4

the u.s. department of interior is planning to build a dam and construct a hydroelectric power plant. in addition to producing electric power, this project will provide flood control, irrigation, and recreational benefits. the estimated benefits and

Answers

Alternative C is the best alternative because of its better ratio than alternative A and B.

Following shows the value of Benefit cost ratio for each alternative:

Alternative A =1.45

Alternative B =1.46

Alternative C = 1.59

Thus, from the above table Alternative C is the best alternative.

What is an appropriate benefit-to-cost ratio?

The benefit-cost ratio, which expresses the ratio as a decimal, aids in summarising the link between a project's expenses and benefits. The advantages outweigh the costs if the ratio is higher than 1.0. The expenses are greater than the benefits if the ratio is less than 1.0.

An indicator called a benefit-cost ratio is used in cost-benefit analysis to try and sum up the overall value for money of a project or proposal. A project's or proposal's BCR is the ratio of its benefits, expressed in monetary terms.

To know more about benefit-to-cost ratio, click here- brainly.com/question/15377771

#SPJ4

describe what a meeting request form is? a request to have a meeting at a venuea customizable form which can be as basic or detailed as necessary and provide planners with a complete view of all meeting detailsan excel spreadsheetsimilar to an intake form

Answers

An email meeting request is a written message that asks for a meeting with a specific person. Meetings are frequently scheduled with a definite goal in mind, usually to discuss a topic or several topics in depth, in contrast to appointments, which are normally less planned.

What do you mean by Meetings?

A meeting is a gathering of two or more individuals who have been asked to come together for the aim of reaching an agreement or sharing information in order to accomplish a common objective.

There are meetings for problem-solving, teamwork, communication, and progress tracking.

Meetings are most frequently held to discuss issues face-to-face. It might be to brainstorm, make a choice, solve an issue, find a new opportunity, or any number of other things.

But discussion and face-to-face engagement are ultimately what matter. In a professional setting, the purpose of the meeting is to ensure that all parties are aware of how a project is progressing.

Learn more about Meetings, here

https://brainly.com/question/27561486

#SPJ1

because an audit in accordance with generally accepted auditing standards is influenced by the possibility of material errors, the auditor should conduct the audit with an attitude of

Answers

The auditor should conduct the audit with an attitude of misstatements.

An auditor is a person or a company appointed by way of an employer to execute an audit. to act as an auditor, a person has to be licensed by means of the regulatory authority of accounting and auditing or own positive unique qualifications.

The function of the auditor or reviewer is to give a professional and impartial on these economic statements. The evaluation or audit of an affiliation's monetary report can make sure more accountability to the contributors and offer a warranty that every one finances acquired by means of the business enterprise had been successfully accounted for.

Learn more about auditors here:

https://brainly.com/question/7890421

#SPJ4

superwheels is a large firm that manufactures bicycles. the company sells a line of mountain bikes targeted at experienced off-road bikers. superwheels has introduced several innovations to set its bikes off from those of its competitors. which of the following strategies is illustrated in the scenario?

Answers

The company sells a line of mountain bikes targeted at experienced off-road bikers. Focus strategy with cost leadership focus is illustrated in the scenario.

A company, abbreviated as co., is a felony entity representing an association of humans, whether or not herbal, legal or a mixture of each, with a particular objective. enterprise members proportion a not unusual reason and unite to achieve particular, declared dreams.

An agency is a prison entity formed by means of a group of individuals to interact in and function a enterprise—business or commercial—organization. An organization may be organized in various ways for tax and financial liability functions depending on the company regulation of its jurisdiction.

Learn more about company here:https://brainly.com/question/25818989
#SPJ4

For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acquired at the beginning of 2018 for $2,688,000. Its useful life was estimated to be six years with a $192,000 residual value. At the beginning of 2021, Clinton decides to change to the straight-line method. The effect of this change on depreciation for each year is as follows:
($ in thousands)
Year Straight-Line Declining Balance Difference
2018 $ 416 $ 896 $ 480 2019 416 597 181 2020 416 398 (18 ) $ 1,248 $ 1,891 $ 643

Answers

Here depreciation expense and accumulated depletion can be up to 202,000.

The book value of the equipment at beginning of 2021 is = Original cost - Accumulated depreciation under declining balance method till 2020

The book value of the equipment at beginning of 2021 is

= (2688000-1891000)

The book value of the equipment at beginning of 2021 is = S 797,000/.

The remaining useful life of the equipment is = 3 years

Residual value = S 192,000/.

Book value as of 2021 is to be depreciated using the straight-line method.

Resultant annual depreciation under the straight-line method is

= (797000-192000)/3 = S 201,667

Nearest thousands value sis S 202,000/.

Journal entry:

Date    Accounts Title & Explanation   Debit        Credit

2021   Depreciation expenses              202,000

           To Accumulated Depredation                    202,000

A change in depreciation method is considered a change in accounting estimate resulting from a change in accounting principle which needs to be effected prospectively over the remaining useful life.

To learn more about depreciation expenses

https://brainly.com/question/14682335

#SPJ4

If demand is ___, a higher price yields ____ total revenue. a. inelastic; higher b. inelastic; lower c. elastic; no change in d. elastic; higher

Answers

If demand is inelastic, a higher price yields higher total revenue. Option a. inelastic is correct.

"Inelastic" is a financial time period relating to the static amount of an awesome or carrier when its price changes. Inelastic demand manner that after the charge is going up, consumers' buying conduct stays about equal, and when the rate goes down, purchasers' shopping for conduct additionally remains unchanged. Inelastic merchandise is usually required without suitable substitutes.

The maximum common items with inelastic demand are utilities, prescribed drugs, and tobacco products. businesses presenting such products hold extra flexibility with prices because demand remains consistent even if charges increase or decrease. adjective. now not elastic; lacking flexibility or resilience; unyielding. Economics. extraordinarily unresponsive to changes, as called for when it fails to grow in share to a decrease in the fee.

Learn more about inelastic here: https://brainly.com/question/6791468

#SPJ4

if a firm has a cash cycle of 30 days and an operating cycle of 92 days, what is its average payment period.

Answers

By dividing Credit Purchases by 365 days and dividing the result by Average Accounts Payable, the average payment term may be calculated. Days sales outstanding (DSO).

Days Credit inventory outstanding (DIO), and days payable outstanding make up the statistic known as cash-to-cash cycle time (DPO). Cash-to-Cash Cycle is calculated by adding DSO and DIO, then deducting DPO. Cycle time is the average payment of time between finished units. Example: Think about a factory that cranks out 100 units of merchandise per 40-hour workweek. The typical throughput rate is one unit every 24 minutes, or one unit every 0.4 hours. As a result, the cycle lasts an average of 24 minutes.

To learn more about average payment, click here.

https://brainly.com/question/28833787

#SPJ4

Other Questions
What is the prime factorization of 16807 1680716807? Enter your answer as a product of prime numbers, like 2 3 232, times, 3, or as a single prime number, like 17 1717. during the vietnam war u.s. airplanes spread toxic chemicals to destroy forests and dropped napalm, a gelatinous form of gasoline that burns the skin of anyone exposed to it, on enemy positions in vietnam. Which professional wrestler had a co-starring role in the film the princess bride?. You have purchased a Guaranteed Investment contracts (GICs) from an insurance firm that promises to pay you a 5% compound rate of return per year for 6 years. If you pay $10,000 for the GIC today and receive no interest along the way you will get __________ in 6 years (to the nearest dollar). Why are the purpose, vision, mission, and values statements so important inthe strategic planning process?A. They provide the foundation for everything the company does.B. They provide good public relations material for the organization.C. They make sure everyone in the organization is working together.D. They identify the key internal and external factors.SUBMIT Olaf has 11 more than triple the amount of customers as when he started selling newspapers. He now has 71customers. Write an equation that can be used to solve for how many customers Olaf had originally, then solveyour equation to find the answer. find two positive numbers that satisfy the given requirements. the sum of the first number squared and the second number is 51 and the product is a maximum. (first number) (second number) Which number on the periodic table of element i the ame a the number of protron and electron of the atom Ann is 10 years older than Bob. Ten years ago, Ann was twice as the old as Bob. How old is Ann now? How old is Bob now? in what ways is the electricity generation from a solar panel different from producing electricity with a turbine generator that works on wind, water, natural gas, coal, etc? a phone cord is 4.89 m long. the cord has a mass of 0.212 kg. a transverse wave pulse is produced by plucking one end of the taut cord. that pulse makes four round trips (down and back) along the cord in 0.636 s. what is the tension in the cord? hint: four round trips is a total distance of eight lengths of the cord. Convert 8 ounces into grams. Round youranswer to the nearest whole number.*Note: you must use these exact conversion factors toget this question right. the term boot refers to the a.amount of cash paid or liability incurred when buying a new asset and trading in an old asset. b.amount of down payment on an asset. c.total cost of a new asset. d.amount of the gain or loss on exchange of assets. what kind of government was formed by british colonists in north america question content area top part 1 it is believed that gpa (grade point average, based on a four point scale) should have a positive linear relationship with act scores. attached below is the technology output for predicting gpa using act scores based on a data set of 8 randomly chosen students from a big-ten university. what are the decision and conclusion on testing whether there is any linear relationship at 1% level of significance between gpa and act scores? Prepare journal entries for the month of April to record the above transactions.A. Materials purchases (on credit)B. Direct materials usedC. Direct labor used (and paid in cash) and assigned to work in process inventory D. Indirect materials used and assigned to Factory Overhead E. Indirect labor used (and paid in cash) and assigned to factory overheadF. Overhead costs applied to work in process inventoryG. Actual other overhead costs incurred (factory rent and utilities are paid in cash)H.transfer of jobs 306 & 307 to finished goods inventory I. Cost of goods sold for job 306J. Revenue from the sale of job 306 receding cashK. Close under applied or over applied overhead to the cost of goods sold account. Computing and recording job costs; preparing schedule of cost of goods manufactured LO P1, P2, P3, P4 [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials used (in March) $ 29, 000 $ 35,000 Direct labor used (in March) 20, 000 18, 000 Overhead applied (March) 10,000 9 , 000 Costs during April Direct materials used 135, 000 220, 000 $ 100,000 Direct labor used 85 , 000 150, 000 105, 000 Overhead applied ? ? ? Status on April 30 Finished Finished (sold) (unsold) In process Additional Information a. Raw Materials Inventory has a March 31 balance of $80,000. b. Raw materials purchases in April are $500,000, and total factory payroll cost in April is $363,000. c. Actual overhead costs incurred in April are indirect materials, $50,000; indirect labor, $23,000; factory rent, $32,000; factory utilities, $19,000; and factory equipment depreciation, $51,000. d. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $635,000 cash in April. how do the results compare to your hypothesis? explain why your hypothesis was/was not supported by the results? 32x = 3(5x8) is equivalent to the equation 3(2x) = 3(5x 8).TrueFalse a survey of 1000 students nationwide showed a mean act score of 21.4. a survey of 500 south carolina scores showed a mean of 21.2. if the population standard deviation in each case is 3, can we conclude the national average is greater than the south carolina average? use Im having trouble with my homework and im not sure how to do this question could someone please explain?line u has an equation of y+6=3/2(x6). Line v is perpendicular to line u and passes through (2,1). What is the equation of line v?