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2 years ago

True or false: most riders cannot tell the difference between low-risk behavior and high-risk behavior.

1 answer:

4 0

The given statement that most riders cannot tell the difference between low-risk behavior and high-risk behavior is FALSE.

<h3>What is high-risk behavior.?</h3>

This refers to the type of behavior that a person engages in that could lead to severe consequences.

Hence, we can see that The given statement that most riders cannot tell the difference between low-risk behavior and high-risk behavior is FALSE and this is because they know when they put themselves in danger and when they are following protocols and guidelines about safety.

Read more about high-risk behavior here:

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In 2022, internal auditors discovered that Axel Corp., had debited an expense account for the $2,090,000 cost of a machine purch

antoniya [11.8K]

Answer:

Debit Depreciation expense $570,000

Credit Accumulated depreciation $570,000

<em>(To record the accumulated depreciation for 3 years)</em>

Explanation:

Using a Straight-line depreciation method, depreciation expense = (Cost - Salvage value)/Estimated useful life

Depreciation expense = $2,090,000 / 11 years = $190,000 yearly

We would assume that the internal auditors detected the error at the beginning of Year 2022, so the accumulated depreciation for 3 years (Jan 2019 - Dec 2021) would be $190,000 x 3 years = $570,000

The following correctional entries will apply:

Debit Fixed asset - Machine $2,090,000

Credit Expense account $2,090,000

<em>(To appropriately record the purchase of machine)</em>

The required adjustment fot the accumulated depreciation is recorded above under the answer section.

3 0

3 years ago

A Liquidation of a partnership LO P5 Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio (in ratio form: Kendra, 3/6;

morpeh [17]

Answer:

a. Inventory is sold for $608,400.

gain on sale of inventory = $608,400 - $537,600 = $70,800

allocation of gain:

Kendra 1/2 x $70,800 = $35,400

Cogley 1/3 x $70,800 = $23,600

Mei 1/6 x $70,800 = $11,800

Dr Cash 608,400

Cr Inventory 537,600

Cr Gain on sale of inventory 70,800

Dr Gain on sale of inventory 70,800

Cr Kendra, capital 35,400

Cr Cogley, capital 23,600

Cr Mei, capital 11,800

Dr Accounts payable 258,000

Cr Cash 258,000

Dr Kendra, capital 112,100

Dr Cogley, capital 196,175

Dr Mei, capital 146,025

Cr Cash 454,300

b. Inventory is sold for $469,200.

loss on sale of inventory = $469,200 - $537,600 = -$69,400

allocation of loss:

Kendra 1/2 x $68,400 = $34,200

Cogley 1/3 x $68,400 = $22,800

Mei 1/6 x $68,400 = $11,400

Dr Cash 469,200

Dr Loss on sale of inventory 68,400

Cr Inventory 537,600

Dr Kendra, capital 34,300

Dr Cogley, capital 22,800

Dr Mei, capital 11,400

Dr Loss on sale of inventory 68,400

Dr Accounts payable 258,000

Cr Cash 258,000

Dr Kendra, capital 42,400

Dr Cogley, capital 149,775

Dr Mei, capital 122,825

Dr Cash 315,100

c) c. Inventory is sold for $358,800 and any partners with capital deficits pay in the amount of their deficits.

loss on sale of inventory = $358,800 - $537,600 = -$178,800

allocation of loss:

Kendra 1/2 x $178,800 = $89,400

Cogley 1/3 x $178,800 = $59,600

Mei 1/6 x $178,800 = $29,800

Dr Cash 358,800

Dr Loss on sale of inventory 178,800

Cr Inventory 537,600

Dr Kendra, capital 89,400

Dr Cogley, capital 59,600

Dr Mei, capital 29,800

Dr Loss on sale of inventory 178,800

Dr Cash 12,700

Cr Kendra, capital 12,700

Dr Accounts payable 258,000

Cr Cash 258,000

Dr Cogley, capital 112,975

Dr Mei, capital 104,425

Dr Cash 217,400

d. Inventory is sold for $298,800 and the partners have no assets other than those invested in the partnership.

loss on sale of inventory = $298,800 - $537,600 = -$238,800

allocation of loss:

Kendra 1/2 x $238,800 = $119,400

Cogley 1/3 x $238,800 = $79,600

Mei 1/6 x $238,800 = $39,800

Dr Cash 298,800

Dr Loss on sale of inventory 238,800

Cr Inventory 537,600

Dr Kendra, capital 119,400

Dr Cogley, capital 79,600

Dr Mei, capital 39,800

Dr Loss on sale of inventory 238,800

Dr Cogley, capital 28,467

Dr Mei, capital 14,233

Cr Kendra, capital 42,700

Dr Accounts payable 258,000

Cr Cash 258,000

Dr Cogley, capital 64,508

Dr Mei, capital 80,192

Dr Cash 144,700

6 0

3 years ago

Builtrite's upper management has been comparing their books to industry standards and came up with the following question: Why i

Vesna [10]

Answer:

Builtrite has higher than average operating expenses

Explanation:

Subtracting cost of goods sold from net sales will give you gross profit. The reason of high gross profit could be company is able to sell its products at a higher price or it is able to keep its cost of goods sold at a lower level than industry standards.

A higher-than-industry-average gross profit margin increases your chances of generating a net profit provided that you are able to keep your expenses within industry average levels.

Operating profit is the pre-tax profit or in other words it is calculated by subtracting operating expenses from the gross profit. Operating profit margin is equal to operating income divided by the total revenue. A lower operating margin despite of having higher gross profit is because the company is not able to control its operating expenses or in other words they are incurring higher operating expenses as compare to industry.

4 0

3 years ago

Chandler Kumar owns two antique stores. One is in an upscale neighborhood, and its merchandise is artfully arranged and priced t

Sladkaya [172]

Answer:

Positioning strategies

Explanation:

In business , positioning strategies refers to the efforts that a company can do to influence some sort of perception toward their brands.

In the example above, Markup artfully arranged his products and priced to indicate product rarity in upscale neighborhood.

He did this because for customers with high economic power, presentation of a certain product will create the perception that owning that product indicates high social status. This probably held more value compared to the actual use function of the product itself.

On the other hand, he left his products in open boxes and placed haphazardly on shelves when targeting customers with lower income. He did this because among customers with lower income, presentation tend to matter less compared to the actual function of thier brand.

8 0

3 years ago

After an hour on the expressway, your passengers need to use the restroom and they want to get some food. As you approach the ne

Gre4nikov [31]

The sign will be blue and it will have food places on it like Mc Donalds and Subway. Those food places will have a restroom so you would just follow the signs direction to that food place.

Hoped I helped!

5 0

3 years ago