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3 years ago

Deferral adjustments are needed when the business:_______

Business

1 answer:

Mnenie [13.5K]3 years ago

5 0

Answer: b. pays cash before the expense has been incurred.checked

d. receives cash before the revenue has been generated

Explanation:

Here is the complete question:

Deferral adjustments are needed when the business:

a. pays cash after the expense has been incurred.unchecked

b. pays cash before the expense has been incurred.checked

c. receives cash after the revenue has been generated.unchecked

d. receives cash before the revenue has been generated.

Adjustments are made during the end of every accounting period in order to report the revenues and the expenses in proper period at which they occur and also in order to report the assets and the liabilities at their appropriate amounts.

Deferral adjustment is when the revenue or the expense has been deferred or postponed and will therefore be reported on the income statement at a later period.

Previously deferred amounts will show on the balance sheet when a company pays cash before having to incur the expense or in a case whereby the company gets and collects cash before earning the revenue.

When revenues are made or when expenses are incurred, the previously deferred amounts will have to be adjusted and then, the amounts will be transferred to income statement through the use of the deferral adjustment.

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Journalize the following transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the dir

Luba_88 [7]

Answer:

Jan. 19

Dr Accounts receivable $ 6,400

Cr Sales $ 6,400

Dr Cost of Goods $ 3,000

Cr Inventories $ 3,000

June 2

Dr Cash $ 500

Cr Accounts receivable $ 500

Dr Bad Debt Expense $ 5,900

Cr Accounts receivable $ 5,900

Oct. 23

Dr Accounts receivable $ 5,900

Dr Bad Debt Expense $ 5,900

Dr Cash $ 5,900

Cr Accounts receivable $ 5,900

Explanation:

Jan. 19 Sold merchandise on account to Dr. Kyle Norby, $6,400. The cost of goods sold was $3,000.

Dr Accounts receivable $ 6,400

Cr Sales $ 6,400

Dr Cost of Goods $ 3,000

Cr Invetories $ 3,000

June 2 Received $500 from Dr. Kyle Norby and wrote off the remainder owed on the sale of January 19 as uncollectible.

Dr Cash $ 500

Cr Accounts receivable $ 500

Dr Bad Debt Expense $ 5.900

Cr Accounts receivable $ 5.900

In the direct Write-Off method, bad debts are directley cancel at the time it was decided that the credit is bad, the total amount reported as bad debt expenses negatively affect the income statement and the accounts receivable are reduced by the same amount.

Oct. 23 Reinstated the account of Dr. Kyle Norby that had been written off on June 2 and received $5,900 cash in full payment.

Dr Accounts receivable $ 5,900

Dr Bad Debt Expense $ 5,900

Dr Cash $ 5,900

Cr Accounts receivable $ 5,900

8 0

3 years ago

1. Of the 4 strategic approaches to international markets, which one(s) might be the best for a manufacturing company? a financi

viktelen [127]

Answer:

1a. For manufacturing company– Buying a local manufacturing company

b. For a financial services company– Partnership

c. A company like Coke or Pepsi– Greenfield Investments

Explanation:

1a. Buying a local company saves valuable resources for the foreign manufacturing, and it allows for quick market knowledge since this company has already been in operations for a long time.

b. A partnership would be best for a financial services company, this would involve a smooth transition into new markets without having to spend much on physical structures as the domestic company is already having necessary infrastructures in place.

c. Coke and Pepsi would preferably choose to use the Greenfield investment strategy by building a new plant from the ground up because of its established quality standards as well as trade mark and intellectual property protection.

2. A technology-centric firm would benefit most by buying a Company because of the already available market share as well as benefiting from reduced government regulations.

3. If one is operating a start-up or smaller firm of course cost would be a major consideration, therefore selling out License to foreign companies may be effective. This would transfer the rights to use a product or service in a different market geography.

4. It provides a good foresight into the requirements needed to enter foreign markets.

6 0

3 years ago

in 1996 the was revised to a us export policy stating that everyuthing is authorized unless it is specifically prohibited

irina [24]

The Export Administration Regulations (EAR) .

<h3>What items are subject to the Export Administration Regulations?</h3><h3>The Export Administration Regulations - EAR</h3>

Nuclear Materials, Facilities and Equipment, and Miscellaneous.
Materials, Chemicals, Microorganisms, and Toxins.
Materials Processing.
Electronics.
Computers.
Telecommunications and Information Security.
Lasers and Sensors.

<h3>What is the purpose of Export Administration Regulations?</h3>

The EAR (Export Administration Regulations) are the rules by which the U.S. Department of Commerce Bureau of Industry and Security (BIS) regulates and controls exports of goods from the United States.

Learn more about EAR here:

<h3>brainly.com/question/23121387</h3><h3 /><h3>#SPJ4</h3>

4 0

2 years ago

Competition among economic units ______. Multiple select question. should not occur within a market system diffuses economic pow

rosijanka [135]

The Competition among economic units diffuses economic power within the businesses and households that make up the economy.

<h3>What is Economy?</h3>

Economy refers to the area or the region which produces the goods and services. It implies to the wealth and the resources of the nation. It involves the management of the finances. for example :- the stock market system of the United States.

The competition among the business leads to the innovation of the new products and the services which in turn is beneficial for the customers. It diffuses the economic power as the income earned gores in the market and the household.

Thus it helps in the economic growth of the nation. Therefore the correct option is diffuses economic power within the businesses and households that make up the economy.

Learn more about Economy here:

brainly.com/question/2421251

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5 0

2 years ago

If the United States imports more than it exports, then Group of answer choices the supply of dollars is likely to exceed the de

frozen [14]

Answer:

the supply of dollars is likely to exceed the demand in the foreign exchange market, ceteris paribus.

Explanation:

A deficit can be defined as an amount by which money, falls short of its expected value.

In Financial accounting, deficit is usually as a result of revenue falling below expenses or expense exceeding revenue at a specific period of time.

For instance, if in a country liabilities exceeds assets or import exceeds export there would be a deficit in the financial account of the country.

This is simply as a result of a country having to import more goods and services than it is exporting to other countries in trade.

Generally, a deficit on the current account is because the value of goods and services exported is lower than the value of goods and services being imported in a particular country.

If the United States imports more than it exports, then the supply of dollars is likely to exceed the demand in the foreign exchange market, ceteris paribus (all things being equal) because it is not selling its goods and services to other countries.

7 0

3 years ago