1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
konstantin123 [22]
3 years ago
5

The Blue Nile Law Firm prepays for advertising in the local newspaper. On January​ 1, the law firm paid $ 15 comma 000 for twelv

e months of advertising. How much advertising expense should Blue Nile Law Firm record for the two months ending February 28 under the a. cash​ basis
Business
1 answer:
Arada [10]3 years ago
6 0

Answer:

a. Cash basis $15,000

b. Accrual basis $2,500

Explanation:

Under the cash basis of accounting, expenses are recorded or recognized in the books not necessarily when incurred but when cash is paid. This is not in line with the matching concept which requires that expenses be recognized the  period it is incurred as well as the resulting revenue.

Hence, the $15,000 paid on January 1  would have been recognized as an expense for the two months ending February 28 using the cash basis.

Using the accrual basis, monthly expense

= $15,000/12

= $1,250

Hence advertising expense for 2 months

= 2 * $1,250

= $2,500

You might be interested in
Rhonda, a general manager, makes a decision on behalf of the business that leads to some personal financial gains, while the com
noname [10]

Answer:

Conflict of interest .

Explanation:

The scenario depicts a conflict of interest. Rhonda's decision benefits Rhonda at the expense of the company. Rhonda does not fulfill the responsibility to ensure that the company stays profitable, which is a conflict of interest. A conflict of interest, one of the most common ethical issues identified by employees, exists when a person must choose whether to advance his or her own personal interests or those of others.

8 0
3 years ago
Define the term creativity​
LekaFEV [45]

Answer:

Creativity is defined as the tendency to generate or recognize ideas, alternatives, or possibilities that may be useful in solving problems, communicating with others, and entertaining ourselves and others.

3 0
2 years ago
Read 2 more answers
In each of the following cases, determine how much GDP and each of its components is affected, if at all:
Elanso [62]

Answer:

Follows are the solution to this question:

Explanation:

In option A, Its increase in consumption and GDP is $200.

In option B, Investment decisions increase about $1800, net exports drop by $1800 and therefore GDP should remain constant.

In option C, GDP or investment wasn’t increasing only at present because estimates were produced last year.

In option D, Market growth is $470 million, options trading is rising by $30 million but GDP is growing by $500 million.

GDP is just a misleading indicator, it does not take into account recreation, environmental protection, education and health rates, non-market behaviors, changes in wealth disparity, increases of variety or rises in innovation. HDI's social progress Index could be used to highlight a need for people or their ability to assess national growth as the supreme requirement.

5 0
2 years ago
If the exchange rate for Canadian and U.S. dollars is 0.92777 to 1, this implies that 13 Canadian dollars will buy ____ worth of
Mazyrski [523]

Answer:

U.S. dollars = 14.012 U.S. dollars

Explanation:

Below is the exchange rate:

0.92777 Canadian dollars = 1 U.S dollars

Thus to find the amount of U.S. dollars bought from the 13 Canadian dollars, just divide the 13 Canadian dollars from 0.92777. Therefore the resulting answer will be the U.S. dollars.

U.S. dollars = 13 / 0.92777

U.S. dollars = 14.012 U.S. dollars

8 0
2 years ago
As the price of a resource decreases, _____. a. the supply of that resource increases b. producers are more willing and able to
solmaris [256]

Answer:

b. producers are more willing and able to hire that resource

Explanation:

In production resources are defines as various inputs in the production process of a product.

It contributes to the final product that a consumer buys and they have their various costs which are used to obtain their use.

So when the price of a resource decreases, it means that the cost of production also decreases.

There is now more outlay of cash that can be used hire that resource.

Producers are able to produce more of the final product so supply increases.

6 0
3 years ago
Other questions:
  • Which statement best describes capitalism
    15·1 answer
  • Craig graduated from college and got his first job. He rented an apartment and purchased new furniture, appliances, and a televi
    8·1 answer
  • On April 1, 2009, a company paid the $1,350 premium on a three-year insurance policy with benefits beginning on that date. What
    11·1 answer
  • Limon, an agent for Mindwonder Games LLC, executes an unau-thor-ized contract with NOW Marketing, Inc The deal is highly ad-vant
    11·1 answer
  • On January 1, 2021, Laramie Inc. acquired land for $9.6 million. Laramie paid $2.9 in cash and signed a 6% note requiring the co
    5·1 answer
  • Need asap<br><br> Submit your essay on what's next for digital video in the future.
    12·1 answer
  • When is the bargaining power of the buyer greater than that of the supplier?.
    12·1 answer
  • What will be the resulting change in equilibrium of the chocolate bar market
    11·1 answer
  • In the united states, loans from ________ are far ________ important for corporate finance than are securities markets.
    7·1 answer
  • If price paper spends an additional on advertising, sales volume should increase by units. what effect will this have on operati
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!