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VMariaS [17]
2 years 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]2 years 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

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Velocity, a consulting firm, enters into a contract to help Burger Boy, a fast-food restaurant, design a marketing strategy to c
Mademuasel [1]

Answer:

Accounts Receivable (Dr.) $87,000

Bonus receivable (Dr.) $29,000

Service Revenue (Cr.) $116,000

Explanation:

Expected Value at contract inception is :

($87,000 * 8 months + $29,000) * 80% = $580,000

($87,000 * 8 months - $29,000) * 20% = $133,400

Total = $713,400

$725,000 / 8 = $89,175

The service revenue is estimated to be 116,000 if there is no probability estimate. When the expected value is incorporated the service revenue will be $89,175.

3 0
3 years ago
Describe two financial goals that you would want to meet before you begin investing. Explain why you would want to reach those g
salantis [7]
One would be getting out of credit card debt. 
<span>another would might be having a savings account in case you lose a job.</span>
4 0
3 years ago
How much must be deposited on january 1, 2014 in a savings account paying 6% annually in order to make annual withdrawals of $30
miv72 [106K]
(30,000 *.9434) + [30,000 * (.9434) (.9434)]
28,302+ (30,000 * .89000356)
28,302 + 26,700.1068
= $55,002.1068
I don’t know if you have to have the decimals that’s why I included them. Hope it helps.
8 0
4 years ago
Suppose the Federal Reserve increases bank reserves and banks lend out some of these reserves, but at some point banks still hav
MatroZZZ [7]

Answer:

$50 million

Explanation:

Given that,

Suppose the Federal Reserve increases bank reserves and banks lend out some of these reserves,

Amount of money available = $5 million

Reserve requirement ratio = 10 percent

Money multiplier:

= 1/ Reserve requirement ratio

= 1/ 0.10

= 10

Money can banks create if they lend out the remaining amount:

= Money multiplier × Amount of money

= 10 × $5 million

= $50 million

4 0
3 years ago
Which of the following is the best test of good strategic leadership?A. Whether the company has a good strategy and business mod
Leona [35]

Answer: The correct answer is "D. All of these.".

Explanation: All statements are evidence that indicates the existence of good strategic leadership.

If the company has a strong strategy and a good business model as a result, it will meet its objectives.

If a previously proposed strategy is being fully implemented, it shows that there is good strategic leadership.

3 0
3 years ago
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