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atroni [7]
3 years ago
10

On august 31 of the current​ year, harvey co. decided to change from the fifo periodic inventory system to the​ weighted-average

periodic inventory system. harvey uses u.s. gaap​, is on a calendar year​ basis, and does not present comparative financial statements. the cumulative effect of the change is​ determined:
Business
1 answer:
Vsevolod [243]3 years ago
4 0
The answer is "<span>As of January 1, Year 1".

The cumulative impact of an adjustment in accounting rule squares with the difference between retained income toward the start of time of the change and what retained profit would have been if the change was applied to all influenced earlier periods, accepting comparative financial statements are not exhibited. Starting retained profit of the earliest year exhibited is balanced for the cumulative impact of the change.
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Which office annually evaluates agency efforts to improve the quality and usefulness if information technology investments reque
Sati [7]

Answer:

The correct answer is:  The Federal Information Technology Acquisition Reform Act.

Explanation:

The Federal Information Technology Acquisition Reform Act or FITARA has the mission of optimizing the use and purchase of information technology of the United States federal government. This act was necessary to be passed because the U.S. federal government spends approximately $80 billion per year in information technology products but half of those funds go for maintenance.

4 0
3 years ago
A(n) _____ typically hires the staff of an employer and writes paychecks, pays taxes, prepares and implements HR policies, keeps
OleMash [197]

Answer: Leasing firm

Explanation:

Recruitment process outsourcing is done to improve the quality of recruiting candidates and reducing the cost of recruitment. Firms outsource functions such as advertisement placement, screening of resumes and conducting interviews.

A particular type of outsourcing is the employee leasing where an agreement is signed between the employer and the professional employer organization after which a staff is employed by the leasing firm and then leased back to the firm for a fee. The leasing firm pays taxes, writes paychecks, and implement HR policies.

3 0
3 years ago
Grouper Corporation had 138,000 shares of stock outstanding on January 1, 2020. On May 1, 2020, Grouper issued 72,000 shares. On
velikii [3]

Answer:

183,450 shares

Explanation:

The computation of the weighted average number of shares is shown below:

January 1 to April = 138,000 shares  for 4 months = 46,000 shares

May to June = 72,000 shares + 138,000 shares = 210,000 shares for 2 months = 35,000 shares

July to September = 210,000 shares - 10,200 shares = 199,800 shares for 3 months = 49,950 shares

October to December = 199,800 + 10,200 shares = 210,000 for 3 months = 52,500 shares

Now weights average number of shares is

= 183,450 shares

7 0
3 years ago
a country that can sell its products at a lower cost because it has lower standards for emissions from manufacturing facilities
MA_775_DIABLO [31]

A country that can sell its products at a lower cost because it has lower standards for emissions from manufacturing facilities is making use of predatory dumping .

What Is Predatory Dumping?

  • A form of anti-competitive behavior known as predatory dumping involves a foreign corporation underpricing its goods in an effort to stifle domestic competition.
  • The corporation may eventually establish a monopoly in its chosen market by outpricing competitors.

What is an example of predatory dumping?

  • Predatory dumping is regarded as a dishonest commercial practice. When a business is completely informed of its actions and goals, it happens.
  • A glaring example is the onslaught of Chinese goods entering numerous international markets via physical storefronts, online, and marketplaces like E - Commerce company .

Learn more about predatory dumping

brainly.com/question/15288162

#SPJ4

4 0
1 year ago
A company pays each of its two office employees each Friday at the rate of $100 per day for a five-day week that begins on Monda
sesenic [268]

Answer:

Debit Salaries Expense $400 and Credit Salaries payable $400.

Explanation:

Consider, we are told the company pays each of its <em>two</em> office employees, meaning, the 2 employees combine will earn $200 a day .

Furthermore, we are told that even though the monthly accounting period ends on Tuesday the two employees work on Monday and Tuesday, meaning, the adjusting entry to record at the month-end will be a summation of the amount earned by the two employees on the two days.  That is, = $200 × 2 days <u>  = $400  </u>(which is a salary expense).

Therefore, going by the rule of double-entry, we are obliged to debit salaries expense account and credit salaries payable account.

7 0
3 years ago
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