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4 years ago

Consider the following accounting terms and definitions:

Business

1 answer:

gladu [14]4 years ago

6 0

Answer:

8. First-In, First-Out (FIFO) - a.

7. Disclosure Principle - b

1. Specific Identification - c

6. Weighted-Average - d

4. Conservatism - e

3. Last-In, First-Out (LIFO) - f

5. Consistency Principle - g

2. Materiality Concept - h

Explanation:

FIFO is a sale technique which provides the oldest stoke of goods as the first sales batch, while LIFO brings the last inventory first.

The materiality concept is a situation where the financial information of a company is said to be material from observing the preparation of the financial statements if it can change the opinion of a reasonable person.

The consistency principle states that once an accounting principle is adopted, it can never be changed. Disclosure principle states that company report must be given to outsiders for knowledgeable decision.

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According to the Jo-Hari window model, what are blind spots?

cricket20 [7]

According to the Jo-Hari window model, blind spots C.) SOMETHING THAT THE SENDER DOESN'T KNOW BUT THE RECEIVER DOES.

Blind spots are facts known to others but not known to self.

Other factors in Jo-Hari window model are Arena, Facade, and Unknown.

Choice A is Arena
Choice B is Facade
Choice D is Unknown

5 0

3 years ago

As a long-term investment, Fair Company purchased 20% of Midlin Company's 300,000 shares for $360,000 at the beginning of the re

k0ka [10]

The appropriate journal entry to record the transactions from the purchase through the end of the year, including any adjustment for the investment are:

1. Journal entries

1. Debit Investment in Midlin common shares $360,000

Credit Cash $360,000

(To record investment in Midlin common shares)

2. No journal entry required

3. Debit Cash $15,000

($300,000×$0.25×20%)

Credit Investment revenue $15,000

(To record dividend received)

4. Debit Fair value adjustment $15,000

Credit Net unrealized holding gains and losses- OCI $15,000

($375,000-$360,000)

(To record fair value adjustment)

2. Journal entries

1. Debit Investment in Midlin common shares $360,000

Credit Cash $360,000

(To record investment in Midlin common shares)

2. Debit Investment in Midlin common shares $27,000

Credit Investment revenue $27,000

($135,000×20%)

(To record investment revenue)

3. Debit Cash $15,000

($300,000×$0.25×20%)

Credit Investment revenue $15,000

(To record dividend received)

4. No journal entry required

Learn more here:brainly.com/question/15422359

5 0

2 years ago

Quay Co. had the following transactions during the current period.Mar. 2 Issued 5,000 shares of $7 par value common stock to att

LenaWriter [7]

Answer:

Following are the journal entries to this question:

Explanation:

Date account title Dr. Cr.

Mar.2 Incorporation expense $\$39,600$

Common Stock (Par value $=5000 \ Shares \times 7$ ) $\$35,000$

Paid in excess of par- Common Stock $(39600-35000)$ $\$4,600$

(Bein 5000 common shares Of par value $\$4$ each issued )

June. 12 Cash $\$519,100$

Common Stock (Par value $-63400\ Shares \times 7$ ) $\$443,800$

Paid in excess of par- common stock $(519100-443800)$ $\$75,300$ (Being 63400 common shares of par value $\$7$ each issued for $\$519100$ cash)

July-11 cash $2175\ shares\times \$130$ $\$282,750$

Preferred Stock (Par value $=2175\ Shares \times \$110$ ) $\$239,250$

Paid in excess of par- Preferred stock $(282750- 239250)$ (Being 2175 Prefered shares of par value $\$110$ each issued for $\$130$ each)

Nov. 28 Treasury Stock $\$83,500$

cash $\$83,500$

(Purchased 2,350 shares of treasury stock for $\$83,500$ ).

3 0

3 years ago

Bayou Belle Water sells water drawn only from a single artesian well in southern Louisiana. It has a loyal following in its regi

Debora [2.8K]

Answer:

The answer is: False

Explanation:

If Bayou Belle Water had high resource similarity with companies like Coca Cola, it would mean that its resources, both tangible and intangible, are similar between them. Obviously a small business doesn't have either the financial resources or the intangible resources (the secret Coke formula) that corporate behemoths have.

3 0

3 years ago

Many cell phone companies have similar offers and restrictions for changing numbers, adding numbers to a plan, getting a new pho

galben [10]

Based on the scenarios, it will be very likely that the similarities are due to institutional isomorphism
In business, institutional isomorphism refer to a similarity of processes or structure of one organizations with the other because they've developed under the same constraints

hope this helps

6 0

3 years ago