Answer:
1. Heating Equipment
2. Premises
3. Maintenance Expense
4. Prepaid Insurance
5. Intangible Asset ; Logo
6. Premises
Explanation:
1. Replacement of heating equipment is substantial hence it is capitalized to the Heating Equipment Account.
2. The project is capitalized to the Premises Account as it form part of premises.
3. Annual Building maintenance is a revenue expenditure not capitalized.
4. An Asset Insurance Prepaid for future economic benefits to be realized is recognized.
5. The new sign would result in inflow of economic benefit and is non-tangible hence Intangible Asset is recognized.
6. Work done is capitalized in the Premises Account
Answer:
The zero-based budget ensures that every dollar you make is assigned a specific purpose
Explanation:
Zero-based budge: It is also known as "zero-sum budget".
It refers to the process of creating a budget from nothing without using the previous year’s budget. It enables a firm allocate all its resources to expenses and debt payment.
Zero based budget ensures that every income made is allocated to a particular purpose without a remainder. The major goal of zero based budget is to ensure that revenue (income) less expenditure (spendings) is equal to zero.
That is, in zero based budgeting,
Income - expenditure= zero (0).
In other words,
income= expenses
Answer:
$20,000
Explanation:
The income statement shows the revenue and expenses of an entity for a period. The difference between the entity's revenue and expenses gives the net income.
The balance sheet on the other hand shows the company's assets and liabilities, the difference of these is the owners equity.
Hence Dynamic's net income for the year,
= $100,000 - $80,000
= $20,000
Answer:
Inbound logistics
Explanation:
Inbound logistics is the process of obtaining raw materials, and other goods and services, to the firm, while outbound logistics is the process of delivering the final goods and services from the firm to the customers.
In this case, the retail company is engaging in inbound logistics because it is procuring the raw materials from local farmers. Once these materials reach the firm, it can transform them into the agricultural produce and consumer produce that it sells.
Non price competition is competing against others when price isn't the driving force of differentiation. If a local restaurant repairs a new recipe for it's lunch menu it is using the physical characteristic form of non price competition. The restaurant is hoping to differentiate based on the quality and taste of their new lunch item compared with another restaurants.
