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1 year ago

Utility costs that relate to current year's operations but are not paid until the following year require:______

Business

1 answer:

motikmotik1 year ago

3 0

Utility costs that relate to current year's operations but are not paid until the following year require:

a debit to Utilities Expense
a credit to Utilities Payable

<h3>What happens when expenses are not paid?</h3>

Expenses are meant to be paid within the accounting period that they occur and if this does not happen, then they are to be treated as current liabilities in the Balance sheet.

This means that the Utilities Expense account will be debited as is the norm but the account that will then be credited is the Utilities Payable account which is a current liability.

Options for this question:

(Select all that apply.)

a debit to Prepaid Expense - Utilities
a debit to Utilities Expense
no journal entry
a credit to Utilities Payable
a credit to Cash

Find out more on recording expense payables at brainly.com/question/16781277

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Parne Two large American beer producers have decided to merge and seek government approval. They claim that by joining forces th

leonid [27]

Answer:

The correct answer is letter "A": Beer prices will go down.

Explanation:

Usually, when two large companies merge they take most or almost all part of their market causing a monopoly. This implies the recently-merged company to set the price of the goods according to what they believe is suitable which does not necessarily match with the consumers' expectations. However, for the companies in the case to prove the government that the merger will benefit the economy, they must show that the price of the beer will go down which is the opposite of what is expected under other regular situations.

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3 years ago

If a firm decide to eliminate a product line that produce a yearly net lo of $21000 it yearly net income

mina [271]

Option A is the proper response. It will only increase by $21,000 if it can completely eliminate all of the fixed expenses related to that product line.

Net income, in both business and accounting, is an entity's revenue fewer costs, depreciation and amortization, interest, and taxes for a given accounting period.

All fixed expenses related to a discontinued product line should also be discontinued. then the corporation can add $21,000 to its overall net profits. When a product line is discontinued, variable expenses are automatically eliminated.

The correct response is A. only if it can eliminate all of the fixed costs related to that product line will it increase by $21,000.

To learn more about Net Income, refer to this link:

brainly.com/question/1347024

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<u>COMPLETE QUESTION:</u>

If a firm decides to eliminate a product line that produces a yearly net loss of $21,000, its yearly net income

A. will increase by $21,000 only if it can eliminate all of the fixed costs associated with that product line.

B. will increase by $21,000 only if it can eliminate all of the variable costs associated with that product line.

C. will automatically increase by $21,000.

D. will decrease unless the firm can eliminate all of the fixed costs associated with that product line.

4 0

1 year ago

BlockWood Inc. has been providing raw materials to Couches Corp., a furniture company. The management at Couches recently decide

fomenos

Answer:

Forward integration

Explanation:

Forward integration is a type of business strategy in which the business activities should be carried forward for incorporating the complete production of the product i.e. from the raw material to the end manufacturing of the product along with the supply chain and its logistics. In this, the supplier of the raw material should extend the business to the end manufacturing of the product

So as per the given situation, it is a forward integration

8 0

2 years ago

Each week, radio reaches about what percentage of all adults and teenagers? 94 percent, 91 percent

swat32

If each week radio reaches 94 percent of adults and 91 percent of teenagers, to get the average percentage it gets every week- with adults and teenagers, we have to add the two values and then divide them by two. So 94 + 91 is equal to 185 divided by 2 is 92.5% or 93%.

5 0

3 years ago

In its first month of operations, Wildhorse Co. made three purchases of merchandise in the following sequence: (1) 370 units at

Andreas93 [3]

Answer:

The cost of the ending inventory under FIFO is $2,430 and under LIFO is $1,620

Explanation:

First determine the units sold

Units Sold = Total Purchases - Units in hand

= 1,410 units - 270 units

= 1,140

Note ; Wildhorse Co. uses a periodic inventory system. This means we calculate the cost at the end of the period.

FIFO

Means First in First Out

Cost of the ending inventory = 270 x $9.00 = $2,430

LIFO

Means Last in First Out

Cost of the ending inventory = 270 x $6.00 = $1,620

Conclusion

The cost of the ending inventory under FIFO is $2,430 and under LIFO is $1,620

5 0

3 years ago