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2 years ago

The failure to properly record an adjusting entry to accrue an expense will result in an:

1 answer:

5 0

The failure to properly record an adjusting entry to accrue an expense will result in an understatement of expenses and an understatement of liabilities. This is further explained below.

<h3>What are expenses?</h3>

Generally, expenses are simply defined as what it would take or what it would cost to do anything.

In conclusion, Incorrectly recording an accrual adjustment entry will result in a misstatement of both costs and liabilities.

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Mike Hansen has adjusted gross income of $82,000. During the year, Mike decided he needed a larger home. He purchased a home on

viktelen [127]

Answer: $0

Explanation: The total amount of an individual's Gross income which is taxed is called the taxable income. An individual's Adjustable Gross Income may include expenses such as charitable contribution, mortgage interest, medical and some other eligible expenditure which are are deducted in other to lessen the taxable income of such individual. Such deductions are called the Itemized deductions.

However, personal expenses DO NOT CONTRIBUTE to an individual's Itemized deduction and as such, MIKE HANSEN'S ITEMIZED DEDUCTION IS ZERO.

The $6000 incurred is classed under personal expenditure and is not deductible.

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3 years ago

What problems should you be prepared for when entering a parkway

Aleksandr [31]

Problems that may occur when entering a parkway are: cars not yielding or moving over for oncoming traffic, cars not obeying the speed limit and cars not keeping up with the flow of traffic. It is important to make sure you check your surroundings multiple times when entering a parkway because you are coming into traffic that has been moving at a much faster rate and trying it merge in with them.

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3 years ago

In 2009, the federal government created a program called cash for clunkers whereby consumers could trade in a less efficient car

alexandr1967 [171]

well to be honest man i dont know

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3 years ago

As it relates to inventory, a buyer's time expended to prepare the purchase order for more material is considered a(n) ____ cost

OLga [1]

Answer:

"Ordering" is the correct solution.

Explanation:

Ordering expenses are incurred in purchasing a new shipment of manufactured goods. This would include expenditures for the attempting to place of a purchase agreement, cost savings for the evaluation including its batches expected to receive, ends up costing for documentary evidence, etc.
The cost of ordering correlated negatively with either the cost of transport. This appears to mean because the much more purchases a business location including its providers, the significantly higher the ordering costs will indeed be.

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2 years ago

What is aggregate demand? You can gain or 100 points on this Place the following items in order of the magnitude of the effect o

kodGreya [7K]

Answer:

Aggregate demand refers to the demand for the Gross Domestic Product in a country. In other words, it is the demand for the final goods and services produced in a country within a period.

Order of effect on Aggregate Demand.

1. Development of computer-based technologies from the 1940s to now.

This will have the greatest effect on Aggregate Demand (AD) because it will lead to an increase in the long term capacity of the economy to produce goods and services thereby increasing the demand for those same goods and services.

2. State governments in the 2010s cut their budgets for teachers, infrastructure, police, and other government expenditures.

This will contribute less to AD than the one above but the effect will still be significant because government spending is a significant component of AD so reducing it will reduce AD.

3. Prices of tech stocks increase in the late 1990s as a result of a speculative bubble.

Prices of tech stocks rising will lead to more people buying these stocks thereby increasing the investment portion of AD and having a significant effect on its increase.

4. People notice prices rising and an associated decrease in purchasing power.

If people notice a decrease in purchasing power, they will begin to buy less goods and services as they cannot afford as much. This will reduce Consumption in the AD curve but will not significantly impact AD as the ones above.

5. A trade war with China in the late 2010s leads to a decrease in trade.

A trade war with China will affect the Net exports side of the AD but there will be other countries to trade with and goods will still be purchased from and sold to China in some quantity so the AD will be least affected here.

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2 years ago