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4 years ago

Tha tabacoo compaines have paid billions because of smoking.a. Trueb. False

Business

1 answer:

Alexxx [7]4 years ago

3 0

Answer:

a. True

Explanation:

As per the data collected as on April 15, 2019 which reflects the tax day in the united states. On this date, the five greatest companies who deals in tobacco pay $9 billion to the state governments each and every year to settle out the legal proceeding for the year 1998 in order to compensate the states for the tobacco-related cost illness like - cancer, heart disease, etc

Therefore according to the above information, the given statement is true

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Tanner, Inc. incurred a financial and taxable loss for 2018. Tanner therefore decided to use the carryback provisions as it had

jeka94

Answer:

Carry-back should be reported as a benefit

Explanation:

Tanner, Inc. is a company which has suffered a loss in 2018, and they have planned to use carry-back provisions because they generated profit. It is compulsory to report the provision in the 2018 financial statement. Overall, tanner, Inc. must report carry-back profits as a benefit in 2018 financial statement, because of the loss they received in 2018.

8 0

4 years ago

A local government operates on a calendar-year basis. Prepare journal entries to record the following transactions and events fo

astra-53 [7]

Answer:Please find answers in explanation column

Explanation:

1. Journal to record Short term borrowing

Date Account title Debit Credit

Feb. 1, 2018 Cash $400,000

Tax anticipation notes payable $400,000

2.Journal to record accrued interest payable on TAN)

Date Account title Debit Credit

Dec. 31, 2018 Expenditures – interest $3,666.67

Accrued interest payable $3,666.67

Calculation :Accrued interest= Principal x rate x period (time)

$400,000 x 1% x 11/12= $3,666.67

3. Journal to record investment in CD

Date Account title Debit Credit

April 1, 2018 Investments $100,000

Cash $100,000

4.Journal To record redemption of CD with interest

Date Account title Debit Credit

Sept. 30, 2018 Cash $100,400

Investments $100,000

Cash Revenues – interest income $400

Calculation

Accrued Interest

Principal x rate x period (time= )100, 000 x 0.8 %x 6/12)= $400

Cash = Investment + interest= $100,000 + $400 = $100,400

4 0

3 years ago

explain how you will address each area of competition to help make your business successful against this competitor.

Aneli [31]

Answer:

There are a few number of things that a businessman should always keep in mind to make his business flourish in the near future. The more competitive a business person is, the easier and faster success he gets.

Explanation:

The list of points that a businessman should follow is as follows:

1. It is necessary to keep a track on your competitor's product value, or the selling price of the same. Keeping this thing in track helps you to determine or set your product's selling price so that the consumers don't find them to be too expensive or cheap.

2. You need to be enough self motivated so that a little loss doesn't make you lose your confidence.

3. It is always advised to discuss your business aspects with an experienced one to take the perfect decision at the right time.

4. Being self-aware is a must while running a business. Don't trust anyone blindly. In case if your rivals are trying to make you lagging behind, you need to use your creative business mind to deal your customers.

5. Prioritizing the customer's needs and maintaining the quality is utmost important.

8 0

3 years ago

In what accounts should the following items be classified? (a) Coins and currency. (b) U.S. Treasury (government) bonds. (c) Cer

Dimas [21]

Answer:

Explanation:

Cash: generally classify cash as a cuffent asset Cash conststs of coins, currency, and available on deposit at the bank Cash the most liquid of as*ts, is standard medium of exchange and fre basis for meas_wtng and accountmg for all other items

Cash quivalents: cash equivalents are short-term, highly liquid investments that are both readily convertible to known amount of cash.

Accounts Receivable: Receivables are clams held against customers and others for money, goods, or services

Short term investments: Investments for one year or less called as short-tem investments

Long-term assets: Long-term means more than one accounting cycle period

Items Accounts

a) Coins and currency Cash

b) U S treasury (government) bonds Cash equivalent

c) Certificate of deposit (matures in 5 months) Short term investment

d) Cash in a bank that is in receivership Account receivable.

e1) NSF check ( Returned with bank statement)(if uncollectible) A loss if uncollectible

e2) NSF check ( Returned with bank statement)(if collectible) Accounts receivables

f1) Deposited in foreign bank (exchangeability limited )(if not expendable) Other assets, if not expendable.

f2) Deposited in foreign bank (exchangeability limited )(if expendable) Cash if expendable for goods and services in a foreign country

g1) Postdated checks (if collection expected within one year) Short term investments

g2) Postdated checks (if collection expected within beyond year) long term investments

8 0

3 years ago

Provide the economic term/concept for this description. *NO ABBREVIATIONS*

elena55 [62]

Answer:

8gc uv u o du I. 8. o ixd u. o

5 0

3 years ago