Answer:
b) income statement as a $2,320,000 cumulative effect of accounting change
Explanation:
Base on the scenario been described in the question, The change in inventory steps to FIFO from LIFO which made an increase in Inventory should be recorded in the retained earnings statement as a $2,320,000 addition to the beginning balance. Option b is the answer
Tina is most likely the <u>"Construction Manager".</u>
A construction manager, otherwise called a site manager, is required to oversee and coordinate different activities inside a building venture.
A Construction Manager must guarantee a task is finished securely, ensuring the venture keeps running on time and inside the designated spending remittance. They regularly come into the procedure very at an opportune time in the undertaking so they can assist the customer with primer arranging. They additionally help with angles, for example, choosing a draftsman and contractual worker.
Answer:
S/N ACCOUNT DEBIT CREDIT
1 Equipment $22,000
Cash $22,000
Being payment for new component expected to increase the
equipment’s productivity by 10% a year
2. Equipment Repairs expenses $6,250
Cash $6,250
Being payment for equipment repair
3. Equipment $14,870
Cash $14,870
Being payment for equipment repair to prolong the useful life
the asset
Explanation:
The initial cost incurred in acquiring an asset is debited to asset account, subsequently every other cost spent on the assets are either expenses against the earning of that period or expensed over many years over the useful life of the asset.
Capitalization is the recognition of an expense as an asset in the balance sheet rather than expenses in the income statement.
The payment of $22,000 paid for the equipment productivity must be capitalized, that is added to the cost of the asset because it is a cost that is expected to increase the equipment’s productivity by 10% a year.
The $6,250 paid for normal repair is a revenue items which is to be expensed against the earning of that period.
The $14,870 paid for repairs which will increase the useful life of the equipment from four to five years is a capital expenditure which should capitalized, that is added to the cost of the asset.
Answer:
- Human resources (HR) is the division of a business that is charged with finding, screening, recruiting, and training job applicants, as well as administering employee-benefit programs.
- Human resources is the personnel of a business or organization, regarded as a significant asset in terms of skills and abilities.
- Human resources are defined as the people employed by a company or the department in a company in charge of hiring, training, benefits and records.
<em><u>Hope it helped u</u></em>
Answer:B. Create a lasting competitive advantage.
Explanation: Nike is a world renowned sports wear Company,known for its strategy to create a lasting competitive advantage over other sports wear companies. Nike applies different technologies to improve its market by creating a "market Niche"through the use of information technology to focus on a specialized market, Nike use information technology to differentiate products and provide new products and services to its customers. Nike have different Apps that has enhanced its competitive advantage such as Nike+ devices, Nike+ running app etc.
