Answer:
Option A) To record revenues and expenses
Explanation:
The accounting accrual is an accounting method, it means that the company must record the revenues and expenses in the moment that the transactions occur and not when the payment is done.
By this method is always necessary to make adjustment entries to the accounting system if not it's impossible reflect all the transactions occured at this moment.
Answer:
Debit: $300
Credit: $300
Explanation:
See attached picture for explanation.
Answer:
Salary 2019= $112,404.7
Explanation:
Giving the following information:
Salary 2012= $70,000
Inflation rate= 7%
Salary 2019= ?
To calculate the nominal value of your salary to maintain the purchasing power, we need to use the following formula:
FV= PV*(1+i)^n
FV= 70,000*(1.07^7)
FV= $112,404.7
Answer:
an increase in the price of natural gas will increase demand for his electrical heating systems
Explanation:
In this question, electrical heat pumps and natural gas are substitutes
Substitute goods are goods that can be used in place of another good.
if the price of a good increases, the demand for the substitute increases and if the price of the good reduces, the demand for the substitute increases.
If the price of natural gas increases, the quantity demanded of natural gas would reduce in line with the law of demand. According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded
As a result of the increase in price of natural gas, consumers would increase their demand for electric heat pump and there would be an increase in demand for the good
Answer:
The products by services companies are consumed immediately.
Explanation:
Goods are physical tangible products that are used to satisfy human needs and wants. On the other hand, services are non-physical, nontangible products that also serve the purpose of satisfying human needs and wants.
The manufactured good can be stored in inventories after production, however, the services are consumed as they are produced. They cannot be stored in inventories to be consumed later. They have to be consumed immediately.
This is the main difference between the products of manufacturing companies and services companies.
