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2 years ago

The failure to record which transaction has no effect on the quality of inventory?

1 answer:

4 0

Do not record transactions that do not affect inventory quality. A recorded inventory transaction has actually taken place.

Records of inventory purchases made during the accounting period. The purchase account is increased by direct debit. The manufacturing costs of the goods sold are overestimated by the same amount. An overstatement of cost of goods sold will result in an understatement of net income and retained earnings by the original margin of error.

If the auditor is dissatisfied with the accuracy of the closing balance sheet and may be materially increase.

Inventory write-downs affect both the income statement and the balance sheet. Write-offs are treated as expenses. This means your net income and tax liability will be reduced. Therefore, a decrease in net income will reduce a company's retained earnings and reduce shareholders' equity on the balance sheet.

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Diana and Charles Windsor are considering purchasing a swimming pool. The representatives of Fun-in-the-Sun Pool arrange a meeti

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Answer:

Option B (are protected by their three-day rescission rights under Regulation Z) is correct

Explanation:

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4 years ago

g 3) You are interested in purchasing an apartment complex for $2,000,000 that has Net Operating Income (NOI) of $120,000 and is

Paraphin [41]

Answer:

the cap rate is 6%

Explanation:

The computation of the cap rate is as follows:

= Net operating Income ÷ Current market value of property

= $120,000 ÷ $2,000,000

= .06

= 6%

Hence, the cap rate is 6%

We simply divided the net operating income from the Current market value of property so that the cap rate could come

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3 years ago

Assume Sheryl Jenkins wants to accumulate $ 13,241.39 in two years. She currently has $ 10,621.36 to invest. What interest rate

WITCHER [35]

Answer: 11.65%

Explanation:

The $13,241.39 is a future value amount as it is what is to be accumulated in 2 years.

Future value formula therefore applies:

Future value = Current value * ( 1 + interest rate) ^ no. of years

13,241.39 = 10,621.36 * ( 1 + i) ²

(1 + i)² = 13,241.39 / 10,621.36

(1 + i)² = 1.24667556697

1 + i = √1.24667556697

i = 1.116546267 - 1

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3 years ago

Cash of $100 received at the time a service was provided was journalized and posted as a debit to Cash $100 and a credit to Acco

Ann [662]

Answer:

The correct option will be option B.

Dr Accounts Receivable $100

Cr Service Revenue $100

Explanation:

The reason is that the service was delivered and the money was received at just after the service delivered (the same day). So there is no need to pass the entry which includes cash received against receivables because here the cash received is because we have delivered services no because of any amount receivable.

So the entry that must be passed:

Dr Cash $100

Cr Service Revenue $100

And what we have done is:

Dr Cash $100

Cr Accounts Receivables $100

The correct entry would be removal of the effect of decrease in receivable which must be increased and increase in revenue which has not been recognized.

So the entry is that will correct the books of accounts will be:

Dr Accounts Receivables $100

Cr Service Revenue $100

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3 years ago

The problem with adopting a fair-return pricing policy for a natural monopoly is that Multiple Choice economic profits will be p

ASHA 777 [7]

Answer:

it is not allocatively efficient

Explanation:

Monopoly is a market condition where one seller has all the market share. This leads to an inefficient market structure, an increase in the prices of goods and services and abnormal profits. A problem with adopting a fair return polity for a natural monopoly is that it is not allocatively efficient. In a monopoly, goods and services are not produced to help the economy or people.

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3 years ago