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VMariaS [17]
1 year ago
15

The company uses up $5,000 of an existing asset and the company adjusts its accounts accordingly. this is an example of a(n)?

Business
1 answer:
labwork [276]1 year ago
5 0

The company uses up $5,000 of an existing asset and the company adjusts its accounts accordingly. This is an example of a deferral adjustment.

It is a deferral adjustment on account that a current asset had been used up, which means its miles deferred like supplies expenses are recorded on the year stop relying upon how much resources had been used in the course of the year.

Deferrals are adjusting entries for items bought earlier and used up in the destiny (deferred fees) or whilst coins are received in advance and earned inside the future (deferred sales).

The primary distinction between accrual and a deferral is that accrual is used to deliver forward an accounting transaction into the current period for recognition, whilst a deferral is used to put off such popularity until a later length.

Learn more about deferral adjustment here brainly.com/question/16967814

#SPJ4

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What can you achieve by selecting insert in the table menu
Dovator [93]
You can add a table, rows, columns, or cells (All of the above)

5 0
3 years ago
An appraiser has assigned the following weights to three adjusted sale prices: Comparable 1: $329,500 45% weight Comparable 2: $
n200080 [17]

Answer:

$322,990

Explanation:

The reconciled estimated market value of the subject property will be calculated as follows:

($329,500 X 0.45) + ($320,900 X 0.35) + ($312,000 X 0.2) = $322,990

8 0
2 years ago
Otool Inc. is considering using stocks of an old raw material in a special project. The special project would require all 150 ki
frez [133]

Answer:

The relevant cost of the 150 kilograms of the raw material when deciding whether to proceed with the special project: $979.

Explanation:

We do not use the original cost $2,236 because it is sunk cost.

We do not use market value because Otool Inc. does not either incur this cost nor sacrifice any benefit from not buying at market price.

The relevant cost of these raw material should be the benefit sacrificing from not selling the raw material, instead using it in the project; calculated as:

Selling price x Amount sold - Cost of delivery = 7.1 x 150 - 86 = $979.

Thus, the answer is $979.

5 0
3 years ago
Walker Telecommunications has a quick ratio of 2.00x, $35,550 in cash, $19,750 in accounts receivable, some inventory, total cur
laiz [17]

Answer:

c) 8.44x

Explanation:

Total current assets = cash + account receivable + inventory

⇔ $79,000 = $35,550 + $19,750 + Inventory

⇒ Inventory = $79,000 - $35,550 - $19,750 = $23,700

The inventory circles based on annual sales = Sales/ inventory = $200,000/ $23,700 = 8.44

3 0
3 years ago
A down payment deposit from a potential buyer must be held in: Group of answer choices The seller's bank account The salesperson
Andreyy89

Answer:

The explanation and solution of this question is given below in explanation section.

Explanation:

The correct option of this question is :

The broker’s escrow trust account.

This method mostly used in freelancing. Upwork is one of the freelancing websites. It uses escrow trust account where potential buyer deposit the down payment and this deposit payment will be released to a potential client as he completes the contract with the buyer.

Why other options are not correct.

The amount does not directly deposited in the seller's bank account. because it is chances that the seller either will not work or complete the work and take the money away.

A salesperson bank account is also an incorrect option.

4 0
2 years ago
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