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2 years ago

What are noncash investing and financing activities, and how are they recorded in QuickBooks Accountant?

1 answer:

5 0

QuickBooks Accountant visit the employer menu and pick Make trendy journal Entries, make certain your debits same our credit when we are done.

Some making an investment and financing sports occur with out producing or consuming coins. as an instance, a enterprise may trade not unusual inventory for land or gather a building in change for a word payable.Big noncash financing and making an investment sports are reported at the agency's earnings declaration.

Non-cash transactions are always recorded in the income statement, as they directly effect general internet income, however do now not impact coins go with the flow. subsequent, you may need to create a contra account for your device to preserve music of your monthly depreciation price.can also

A magazine access is a report of the business transactions in the accounting books of a business. A nicely documented magazine access includes an appropriate date, quantities to be debited and credited, description of the transaction and a unique reference number. A magazine access is the first step inside the accounting cycle.

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Carol and Dave each purchase 100 shares of stock of Burgundy, Inc., a publicly owned corporation, in July for $10,000 each. Caro

Illusion [34]

Answer:

b. They are treated differently because the loss in value of Carol's stock is the result of a sale, while the loss in value of Dave's stock is simply a decline in value.

Explanation:

Although the stock owned by Carol and by Dave declines in value by $2,000, however Carol only has a realized and recognized loss of $2,000. The main factor in determining whether a disposition has taken place often whether an identifiable event has occurred. In the current scenario, Carol’s stock sale qualifies as a disposition and the Dave’s stock value decline does not qualify as a disposition and is simply a decline in value.

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3 years ago

A _______ is a long period of rising stock prices.

Alecsey [184]

A bull market is a long period of rising stock prices. Bull market is a part of financial market that is being invested for a long period of time and is expected to gain a higher rise in the price.

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3 years ago

Read 2 more answers

A consumer values a car at $30,000 and a producer values the same car at $20,000. What amount of tax will result in unconsummate

Serhud [2]

The question is incomplete:

A consumer values a car at $30,000 and a producer values the same car at $20,000. If the transaction is completed at $24,000, what level of sales tax will result in unconsummated transaction?

a. 0%

b. 25%

c. 20%

d. 40%

Answer:

d. 40%

Explanation:

The unconsummated transaction would occur when the price that the customer has to pay is higher than the value that he gave to the car. According to that, the answer would be the tax that would increase the final price to more than $30,000:

0%: $24,000

25%: 24,000*1.25= $30,000

20%: 24,000*1.20= $28,800

40%: 24,000*1.40= $33,600

The answer is that the amount of tax will result in an unconsummated transaction is 40%.

7 0

3 years ago

On May 3, 2020, Sweet Company consigned 70 freezers, costing $450 each, to Remmers Company. The cost of shipping the freezers am

Minchanka [31]

Answer:

A. $16,195

B. $7,621

C. $23,816

Explanation:

a. Computation for the inventory value of the units unsold in the hands of the consignee.

Inventory value of the units unsold

First step is to calculate the Total inventory value

Inventory cost $31,500

(70 * $450)

Add Freight $890

Total inventory value $32,390

($31,500+$890)

Now let calculate the Inventory value of the units unsold

Inventory value of units unsold =($32,390 / 2)

Inventory value of units unsold =$16,195

Therefore the inventory value of the units unsold in the hands of the consignee is $16,195

b. Computation for the profit for the consignor for the units sold

Sales $25,900

(35 * $740)

Less Cost of unit sold ($16,195)

($32,390 / 2)

Less Commission ($1,554)

($25,900 * 6%)

Less Advertising ($200)

Less Installation cost ($330)

Profit for the consignor $7,621

Therefore the profit for the consignor for the units sold will be $7,621

c. Computation for the amount of cash that will be remitted by the consignee.

Sales $25,900

Less Commission ($1,554)

($25,900 * 6%)

Less Advertising ($200)

Less Installation cost ($330)

Cash remitted $23,816

Therefore the amount of cash that will be remitted by the consignee is $23,816

4 0

2 years ago

Ea games is a video game development company. The creation of their video games require ideation, design and development before

borishaifa [10]

Answer:

The answer is the testing process is a significant part in game development. as it gives an overview of the query and correction that needs to be done in order to make a game more effective.

Explanation:

The testing process is a crucial part of game development. as it gives an overview of the problem and modification that needs to be done in order to make a game more effective enjoyable error-free and productive. the problem arises when the test department finds a critical bug and cannot proceed further until it has been fixed. this change could potentially impact the entire game and the testing team has to completely redo all their testing which results in an extension in the release date and adds to the production cost. the data system is a systematic and organized way that will definitely help ea sports to organize and analyze the data in a better way. it will make the communication process more effective and will prove to be a boon for the company. reducing the cost and saving time.

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2 years ago