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3 years ago

Why are adjusting entries necessary?

Business

1 answer:

qwelly [4]3 years ago

3 0

Answer:

Option A) To record revenues and expenses

Explanation:

The accounting accrual is an accounting method, it means that the company must record the revenues and expenses in the moment that the transactions occur and not when the payment is done.

By this method is always necessary to make adjustment entries to the accounting system if not it's impossible reflect all the transactions occured at this moment.

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On July 1, Hartford Construction purchases a bulldozer for $228,000. The equipment has a 9-year life with a residual value of $1

UkoKoshka [18]

Answer:

a. Depreciation expense per hour:

= (Cost - salvage value) / Expected operating hours

= (228,000 - 16,000) / 26,500

= $8 per hour

b. First year depreciation: Second year depreciation:

= 1,250 * 8 = 2,755 * 8

= $10,000 = $22,040

Third year depreciation:

= 1,225 * 8

= $9,800

Journal entries

Date Account Title Debit Credit

June 30, Year 1 Depreciation $10,000

Accumulated Depreciation $10,000

Date Account Title Debit Credit

June 30, Year 2 Depreciation $22,040

Accumulated Depreciation $22,040

Date Account Title Debit Credit

June 30, Year 3 Depreciation $9,800

Accumulated Depreciation $9,800

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3 years ago

Since bonds are generally considered among the safest investments, you would expect that they would _____. have low interest rat

coldgirl [10]

Since bonds are generally considered among the safest investments, you would expect that they would have lower interest rates. A bond is considered one of the safest types of investments but surprisingly even so, the interest rate to have a decent return on your investment are very good considering the safeness of the investment to begin with. Bonds are common for family and family members to give and pass down to family members to see how the money grows overtime.

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4 years ago

Read 2 more answers

"A registered representative makes it a regular practice to check in with his actively trading customers at least once a week an

3241004551 [841]

Answer:

contact the firm's compliance department

Explanation:

the first thing the representative should do is to contact the firms compliance department for guidance on how to handle the situation.

The SEC and the FNRA are bodies that have concerns about investors who are old/aging. These people may easily fall prey to scams due to their failing mental capacities. To protect someone like this firms have the responsibility of training their employees to identify diminished mental capacity. FINRA requires that firms have internal process to permit representatives to seek advise from others on what step they are to take.

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4 years ago

Economists who asset that the AS curve is vertical believe that changes in Real GDP originate only on the _____________of the ec

bazaltina [42]

Answer:

The correct answer is supply side; demand side; prices; real GDP.

Explanation:

An isoquarant curve is a graphic representation that shows the infinite combinations of two factors with which the same amount of product can be obtained.

Normally these two factors of production are usually capital and labor, but any other factor could be used. For the article we will say factor "a" and factor "b". The combinations of factors that produce the same amount of product and are indifferent to the producer are in the same isoquarant curve. When we add more quantity of one factor without reducing the other, we will have a higher isoquanta curve.

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3 years ago

If a prep cook prepares ready to eat foods that will be held before service they may be kept for more than 24 hours if

nikklg [1K]

If a prep cook prepares ready to eat foods that will be held before service they may be kept for more than 24 hours if the food was date marked. He can only store the food if he is sure about the life span of the food he is preparing. The cook should ensure that the he knows when will the food will expire. He should anticipate if within 24 hours, the food will not be spoiled. He will ensure the proper refrigeration of the food to preserve it until the desired time when it will be used. He needs to have the proper storage of the food where the food will be preserved as it is.

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3 years ago