on december 10, a company pays $500 for advertising to appear on december 20. on which date should the expense be recorded under accrual-basis accounting? multiple choice one-half on each date. december 20. none of the choices are correct. december 10.
Answers
Under accrual-basis accounting, the expense should be recorded on December 10.
Accrual-basis accounting records financial transactions when the obligations are incurred, regardless of when the cash is received or paid. In this case, the company incurred the obligation to pay for advertising on December 10, even though the payment will not be made until December 20. Therefore, under accrual-basis accounting, the $500 expense should be recorded on December 10. This provides a more accurate picture of the company's financial performance and obligations at a given point in time, as opposed to only considering cash transactions. Accrual-basis expense accounting is generally considered to be a more comprehensive and accurate method of accounting, but it requires careful attention to the timing of transactions and their associated obligations.
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The complete Question is:
On December 10, a company pays $500 for advertising to appear on December 20. On which date should the expense be recorded under accrual-basis accounting?
A. December 10
B. December 20
C. January 1
D. None of the above
Related Questions
The shelf life of milk is 7 days. You have 22 gallons on hand. You normally sell 4 gallons each day. Do you expect to have to throw out any milk?
Answers
Explanation: You will throw away no gallons of milk because if you sell 4 gallons every day then 7 times 4 equals 28 so you will only work for 5 an a half days.
Answer:
B
Explanation:
Company XYZ purchased a laptop and office furniture during the year 2018. During the years 2019, their taxable income for the year 2018 must equal the net income before taxes. a. True b. False c. None of the above
Answers
For the statement, "During the years 2019, their taxable income for the year 2018 must equal the net income before taxes", the correct option is b. False.
There is no direct relationship between the year of purchase of equipment and the taxable income for the year that is used to calculate income tax payable by a company. When a company purchases equipment such as a laptop and office furniture, the purchase is usually treated as a capital expenditure. Capital expenditures are not treated as business expenses for tax purposes, instead, they are capitalized on the balance sheet and depreciated over the useful life of the asset. Thus, capital expenditures do not impact the taxable income of the year in which they were made.
In order to calculate taxable income for a year, a company subtracts tax-deductible business expenses from the total revenue of the year. Tax-deductible business expenses are ordinary and necessary expenses incurred in the course of conducting business. Examples include salaries, rent, utilities, and other costs associated with running a business.
The amount of taxable income for a year is calculated by subtracting tax-deductible business expenses from the revenue for that year. It does not include capital expenditures such as the purchase of equipment. Therefore, the statement is false.
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What type of income is investment income?.
Answers
The investment income is that we get from the investment.
The investment income is the money we
receive in interest payment, capital gains, dividends or any profit we get from the investment is called as the investment income. The profit we earned from the any type of the investments is called as the investment income. Investment income is the money we get by the selling of something for more the price we paid for it initially.
Investment income is the profit earned from investments such as real estate and stock sales. Dividends from bonds also are investment income. Investment income is taxed at a different rate than earned income. The profits from the sale of gold coins or fine wine could be considered investment income.
If you have a savings account, the interest you earn on it is considered investment income.
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the difference between refactoring and re-engineering is: (select one) question 6 options: re-engineering is implemented before the system is placed in production, while refactoring is applied during requirements elicitation refactoring is a continuous process of improvement, while re-engineering takes place after the system has been in production for a long time re-engineering and refactoring are used to restructure most of the system to meet new requirements, since they require similar amount of effort
Answers
Refactoring is a continuous process of improvement, while re-engineering takes place after the system has been in production for a long time.
What distinguishes refactoring from restructuring?Any reorganization of a system's constituent pieces is restructuring. It's a pretty broad term that doesn't suggest any specific method of restructuring. Refactoring is an extremely specialized approach built on the use of minor behavior-preserving modifications (themselves called refactorings).
Data reengineering: What is it?By unifying data definitions and enabling source code reduction, data reengineering increases the lifespan of current systems. As a first step in data modeling, database technology migration, and as a phase in the reverse engineering process, it can also offer an accurate data model.
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who was the 20th president
Answers
Answer:
Of what country? Philippines or US or what??
Answer:
Kuroo Here!
Explanation:
It was James A. Garfield
Hope This Helps!! (^ '--')
Today, your dream car costs $55,600. You feel that the price of the car will increase at an annual rate 2.5 percent. If you plan to wait 5 years to buy the car, how much will it cost at that time?
$61,372.00
$62,906.30
$64,455.64
$63,409.98
$64,478.95
Answers
the dream car will cost $62,906.30 in 5 years if the price increases at an annual rate of 2.5%. The answer is option B.
To find the future cost of the dream car in 5 years, we need to use the formula for compound interest:
A = P(1 + r)^t
Where:
A = Future value
P = Present value
r = Annual interest rate
t = Time period
In this case, the present value (P) is $55,600, the annual interest rate (r) is 2.5%, and the time period (t) is 5 years.
So, we can plug these values into the formula and solve for A:
A = 55,600(1 + 0.025)^5
A = 55,600(1.025)^5
A = 55,600(1.1338)
A = $62,906.30
We'll be using the formula for compound interest to find the future value of the car's price.
Here's a step-by-step explanation:
1. Identify the variables: Present value (PV) = $55,600, annual interest rate (r) = 2.5% = 0.025, number of years (t) = 5.
2. Use the compound interest formula: Future value (FV) = PV * (1 + r)^t
3. Plug in the values: FV = $55,600 * (1 + 0.025)^5
4. Calculate the future value: FV = $55,600 * (1.025)^5
5. Simplify the expression: FV = $55,600 * 1.13140821
6. Get the result: FV ≈ $62,906.30
So, if you wait 5 years to buy the car, it will cost approximately $62,906.30. The correct answer is $62,906.30.
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Swift Coupon Redemption Services is expanding its call center to handle an upswing in business. It would like to finance the new cubicles, phone system, and computers it will purchase and install over the next two months; the center should be fully staffed and operational in six months. Which combination of
disbursement terms and repayment schedule is most appropriate for this purpose?
Answers
The combination of disbursement terms and repayment schedule that is most appropriate for this purpose is the one that has the shortest disbursement term and the longest repayment schedule.
Swift Coupon Redemption Services is expanding its call center to handle an upswing in business. It would like to finance the new cubicles, phone system, and computers it will purchase and install over the next two months; the center should be fully staffed and operational in six months.
The shortest disbursement term will ensure that the funds are available when Swift Coupon Redemption Services is ready to purchase and install the new cubicles, phone system, and computers, and the longest repayment schedule will give the company enough time to repay the loan without negatively affecting its cash flow.
Therefore, to finance the new cubicles, phone system, and computers, the most appropriate combination of disbursement terms and repayment schedule is a short disbursement term and a long repayment schedule.
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A major goal of environmentally-friendly business is
O A. sustainability
B. globalization
O C. discrimination
O D. diversity
Answers
Answer:
A major goal of environmentally - friendly business is sustainability i. e. Option A.
Answer:
A. Sustainability
Explanation:
Apex
What is the role of the FTC in U.S. cybersecurity law and policy? In your opinion, does it play too big, or too small, of a part in safeguarding consumers from unfair and deceptive trade practices?
Answers
The answer to the role of the FTC in U.S. cybersecurity law and policy is that the FTC protects customers from unfair and deceptive trade practices. It is authorized to enforce Section 5 of the Federal Trade Commission Act, which prohibits unfair or deceptive acts or practices, and this includes data security.
The Federal Trade Commission is a vital agency when it comes to safeguarding consumers from unfair and deceptive trade practices, which includes cybersecurity law and policy. FTC's responsibility and authority are broad, from shielding customer privacy to protecting businesses from unfair competition. This agency has long been committed to consumer protection.
The FTC also performs investigations and initiates enforcement actions against companies whose data security practices are inadequate and do not meet the required security standards. Additionally, it provides helpful information to assist businesses in safeguarding customers' personal data, such as consumer protection data. Therefore, it is safe to say that the FTC is doing a good job of safeguarding consumers from unfair and deceptive trade practices.
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From which organization can you request free information about your credit score?
the office of the comptroller
equifax
the federal insurance corporation
fico
Answers
The organization from which one can request free information about one's credit score is Equifax. Hence, option B. Equifax is correct. Read below on where to get free information on one's credit score.
Where can one get free information about one's credit score?One is provisioned to a free credit information every 12 months from each of the three major consumer reporting companies which are: Equifax, Experian and TransUnion. Hence, the answer (option B) chosen.
Therefore, the correct answer from above is option B. Equifax.
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Answer:
The correct answer is B. Equifax
Explanation:
In your lesson from FLVS, it states that the three recording agencies are: TransUnion, Equifax and Experian.
Equifax is in the answer choice and the other two are not, so Equifax is correct.
Based on the following data, would Ann and Carl Wilton receive a refund or owe additional taxes? (Input the amount as a positive value. Round your intermediate calculations and final answer to the nearest whole number.) Tax Information Adjusted gross income $ 47,550 Standard deduction $ 24,000 Child care tax credit $ 100 Federal income tax withheld $ 1,880 Tax rate on taxable income 10 percent
Answers
Ann and Carl Wilton would owe additional taxes of $475.
To determine if Ann and Carl Wilton will receive a refund or owe additional taxes, we need to calculate their taxable income, tax liability, and compare it to the federal income tax already withheld.
Adjusted Gross Income (AGI) = $47,550
Standard Deduction = $24,000
Taxable Income = AGI - Standard Deduction
Taxable Income = $47,550 - $24,000 = $23,550
Tax Liability = Taxable Income x Tax Rate
Tax Liability = $23,550 x 0.10 = $2,355
Child Care Tax Credit = $100
Total Federal Income Tax Withheld = $1,880
Since the total federal income tax withheld ($1,880) is less than the calculated tax liability ($2,355), Ann and Carl Wilton would owe additional taxes of:
Additional Taxes Owed = Tax Liability - Total Federal Income Tax Withheld
Additional Taxes Owed = $2,355 - $1,880 = $475
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Show that economic profits are equal to zero for the perfectly competitive firm, and explain what economic condition leads to this situation (q*)?
Answers
In a perfectly competitive market, economic profits are equal to zero in the long run. This is because in a perfectly competitive market, there are no barriers to entry or exit, and all firms have access to the same information, technology, and resources. As a result, any firm that earns economic profits in the short run will attract new competitors to the market, which will increase supply and drive down prices until economic profits are zero.
This economic condition is known as the zero-profit equilibrium. In this equilibrium, each firm produces at the level where marginal revenue equals marginal cost, and price equals the minimum of average total cost. At this level of output, the firm earns enough revenue to cover all its costs, including the opportunity cost of the resources used in production, but no more.
The zero-profit equilibrium is a desirable outcome for consumers, as it ensures that prices are low and resources are allocated efficiently. It also creates incentives for firms to innovate and improve their products and production processes, as they cannot rely on economic profits to sustain their business in the long run.
In summary, economic profits are equal to zero in the long run for the perfectly competitive firm due to the zero-profit equilibrium, which is achieved when each firm produces at the level where marginal revenue equals marginal cost and price equals the minimum of average total cost. This outcome ensures that prices are low, resources are allocated efficiently, and firms are incentivized to innovate and improve their products and production processes.
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Select a topic and develop a curriculum targeted to 6th-grade students.
Provide an outline of the material and how it will be presented.
Defend your reasoning for the mode of delivery that was selected.
Submit a 450-word response about the topic, curriculum, material outline, and presentation method.
Answers
Explanation:
Provide an outline of the material and how it will be presented.
is the correct answer .
hope it is helpful to you☺️☺️☺️
Which of the following statements about endorsements of negotiable instruments is false?
a.) An endorsement is required to negotiate bearer paper.
b.) An endorsement is required to negotiate order paper.
c.) The endorser can use a special endorsement to negotiate only a portion of the value of the instrument.
d.) a and c are both false
Answers
The false statement about endorsements of negotiable instruments are:
d.) a and c.
An endorsement is a crucial process in the negotiation of negotiable instruments, which can be either bearer paper or order paper. Bearer paper is payable to whoever holds it, while order paper is payable to a specific person or entity.
a.) The statement that an endorsement is required to negotiate bearer paper is false. Bearer paper can be negotiated by mere possession and does not require an endorsement. The transfer of possession itself is sufficient to transfer ownership.
b.) On the other hand, an endorsement is indeed required to negotiate order paper. The endorsement is a signature or endorsement clause on the instrument that signifies the transfer of rights to another party.
c.) The statement that an endorser can use a special endorsement to negotiate only a portion of the value of the instrument is also false. A special endorsement, also known as an endorsement in full, transfers the entire value of the instrument to the endorsee.
Therefore, The false statement is that an endorsement is required to negotiate bearer paper and that an endorser can use a special endorsement to negotiate only a portion of the value of the instrument. Understanding the rules of endorsement is important in the proper negotiation and transfer of negotiable instruments.
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For a customer of Lush, how will their MVV translate to your experience?
For an employee of Lush, for example a shop worker – how might the companies MVV affect your working life, your daily experience and your perspective of the business?
Answers
The per diem employee makes $110.00. He works 25 days in the month. What is his gross pay?
Answers
To calculate the gross pay of the per diem employee, we need to multiply his daily rate by the number of days he worked in the month.
Daily pay = $110.00
Number of days worked = 25
Gross pay = Daily pay x Number of days worked
Gross pay = $110.00 x 25
Gross pay = $2,750.00
Therefore, the gross pay of the per diem employee is $2,750.00.
A sum of $46875 was lent out at simple interest and at the end of 1 year 8 months, the total amount was $50000. Find the rate of interest per year
Answers
Answer:
4%
Explanation:
Simple interest is calculated using the formula
I = p x r x t
in this case, the interest I is the total amount-principal amount
I = $50,000- $46,875
=$3,125
$3,125 = 46,875 x r x 1 year 8 months
$3,125 =46,875 x r/100 x 1.67
3125=78,281.25 x r/100
$3125 x 100 = 78,281.25 x r
$312500= 78,281.25
r=312500/78,281.25
r=3.992
r=4%
Which description is the best example of physical capital?
A. A doctor with expertise in medicine
B. A miner with experience digging for coal
C. A machine that tests new car engines
D. A new law regulating trade in a country
Answers
Answer:
C. A machine that tests new car engines
Explanation:
it's man-made
The correct option is C. A machine that tests new car engines is the best example of physical capital.
Assets that a company owns and uses, including buildings, machines, and cars, are referred to as physical capital.
What are physical capital and its types?Physical capital refers to the range of inputs needed at each step of manufacturing. There are two forms of physical capital: working capital and fixed capital. Fixed capital includes a variety of tools and machines. The cash on hand to cover your immediate, short-term requirements is known as working capital.
Physical capital is made up of physical, man-made items that businesses invest in or purchase and employ to manufacture things. Physical capital assets that are reusable and not consumed during production, such as manufacturing equipment, also fall under the category of fixed capital.
Thus, The right answer is C. The best illustration of physical capital is a machine used to test new automobile engines.
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who made the effective contribution in the field of sience and arts during the renaicence
Answers
Answer:
Leonardo da Vinci, Raphael, and Michelangelo are considered the artists who reached the greatest achievements in art during the Renaissance. The Renaissance stressed harmony and beauty and no one could create more beautiful works than the great three artists listed above.
What is the structure of Public corporation
Answers
Public corporate structures are managed by a board of directors. The members of the board are from all walks of industry and commerce. The chairmen of these corporations are appointed by the government. The entire capital is financed by the government.
A television ad with a candidate on horseback, looking rugged with his loyal dog beside him and describing how he wants to protect second amendment rights, would be an example of what type of ad?
Answers
The television ad described a candidate on horseback and a loyal dog beside him discussing his commitment to protecting second amendment rights, which would be an example of a "political campaign."
A political campaign is a type of advertisement that aims to shape the public's perception of a candidate's personality, character, or values. In this case, the ad portrays the candidate as rugged and tough, with his loyal dog emphasizing loyalty and companionship. The mention of protecting second amendment rights indicates the candidate's stance on gun rights.
The purpose of this type of ad is to create a positive and relatable image of the candidate, appealing to voters who value gun rights and view the candidate as someone who shares their beliefs. The ad uses visuals, such as the candidate on horseback and the presence of the dog, to establish a strong emotional connection with the audience. By highlighting the candidate's stance on second amendment rights, the ad seeks to convince viewers that the candidate is trustworthy and will work to protect their rights if elected.
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Benefits may include things like health insurance, life insurance, retirement funds, equity opportunities (stock in the company), and tuition assistance.
True
False
Answers
Answer:
True
Explanation:
Benefits are things that improve the well-being of employees. They could be in monetary or non-monetary format. The Majority of benefits relate to employees' healths and their life after retirement.
Apart from salaries, employers offer benefits to employees to make the job offer more attractive. Benefits also act as a source of motivation for workers. They are a way of showing that the employer cares for the workers. Benefits improve the employer-employee relationship.
Which type of ebusiness marketing technique induces websites or users to pass on a marketing message to other websites or users, creating exponential growth in the message's visibility and effect
Answers
what are dsw total assets
What are DSW's total assets?
Answers
DSW is a company, and the question asks about its total assets. Total assets refer to the combined value of all the assets owned by a company, including both tangible and intangible assets.
These assets provide an indication of the company's financial health and its ability to generate future income. To determine DSW's total assets, it is necessary to refer to the company's financial statements or other reliable sources that disclose this information.
To obtain DSW's total assets, it is best to refer to the company's financial statements, such as its balance sheet. The balance sheet provides a snapshot of the company's financial position at a specific point in time and includes information about its assets, liabilities, and shareholders' equity.
The total assets of DSW represent the sum of all its assets, which may include cash and cash equivalents, accounts receivable, inventory, property and equipment, investments, intangible assets (such as patents or trademarks), and any other assets owned by the company.
These assets are reported at their respective carrying values, which may be adjusted for factors like depreciation, amortization, or impairment.
To obtain the most accurate and up-to-date information about DSW's total assets, it is recommended to refer to the company's latest financial statements, annual reports, or disclosures filed with regulatory authorities.
These sources will provide the detailed breakdown of DSW's assets and the corresponding values, allowing for a comprehensive understanding of the company's financial position.
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When fire alarm sounds. Why should you evacuate children immediately even if you do not see flames?
Answers
Answer: because even if there is no fire there could be an explosion, fire and gasoline WILL make an explosion. So Basically it can start with fire but soon turn into an explosion. If it's a fire DRILL then it's for practice if that actually does happen.
a. How many more people were working in agri-
cultural jobs in the traditional economy than in
the market economy?
Answers
In the traditional economy there were hundreds more people working than in the market economy
The market economy is an economic term characterized by:
A system of economic relations based on sale and exchangeThe state does not play a decisive role and in which decisions are made by each economic entity independentlyA market economy is characterized by private propertyOn the other hand, the traditional economy is characterized by:
They are based on traditional economic activities such as agriculture and harvestingFocuses on survivalHas a reduced economic surplusAccording to the above, in a traditional economic system, more people are working in agriculture than in the market economy because the market economy is based on industrial production and exchange.
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Kelly is 28 years old and lives in California. This year 2019 tax year, Kelly bought a new auto for $20,000 plus 1,650 in state and local sales taxes. Besides this sales tax, Kelly also paid $8,260 in state income taxes mortgage interest of $5,500 (400,000 acquisition indebtedness on her residence). If Kelly files single with AGI of $56,000, what amount of itemized deductions will she be eligible to claim
Answers
$8260 + $5500= 13,760 State income taxes, but not sales taxes,
Which of the following would be more typically the responsibility of a controller rather than a treasurer?A) Overseeing accounting and tax functionsB) Capital budgetingC) Managing creditD) Making investment decisions
Answers
overseeing accounting and tax functions would be more typically the responsibility of a controller rather than a treasurer.
Who is considered as treasurer?An organization's treasurer is in charge of managing its finances. Cash and liquidity management, risk management, and corporate finance are among a corporate treasurer's important primary responsibilities. The major responsibilities of a treasurer include supervising the organization's financial management, reviewing policies and financial reporting, advising the board on financial strategy, and providing fundraising advice. A treasurer, often known as a financial controller, is responsible for supervising all financial activities and fundraising attempts made by an organizing committee. Their main responsibilities include managing incoming and outgoing funds, maintaining records, and establishing the budget.A controller, not a treasurer, would normally be in charge of supervising accounting and tax functions.To learn more about treasurer refer to:
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Why is creative thinking important to generate business ideas?
Answers
Answer: Creative thinking is necessary for business problem-solving.
Explanation: The skill of creative thinking is a helpful skill because it teaches workers/business owners to find opportunities and ways to improve something even if the situation is challenging. This also lets the person face a problem or situations by a different view. I hope this helped!
Question 10 (5 points)
Two prescreening tools for job candidates are the resume and the
employment essay.
advertisement.
application.
letter of recommendation.
Answers
The correct answer is C. Application
Explanation:
When employers pre-screen job candidates they verify basic information about candidates such as background, education, skills, experience, etc. to determine if a candidate is suitable for a job and he/she should be interviewed or continue in the process of selection for the job.
In this context, the two main tools used by employers are the resume and the job application. These two documents provide information about the candidate's education, experience, skill, and similar but in the case of the application the information es concise and very specific, while resumes are more detailed and the candidate can include as much information as she/he wants. Thus, the two prescreening tools for job candidates are the resume and the application.
Answer: Application
Explanation: I just took the test
Hope this helps.