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3 years ago

Which of the following statements is false?

1 answer:

8 0

Answer: d. A company paid for an insurance premium of $6,000 on January 1. The insurance is for a year. Failing to make adjustments for the month of January would overstate assets and stockholder's equity by $6,000.

Explanation:

If a company were to pay $6,000 for Insurance for the YEAR in January, this would be recorded as a PREPAID EXPENSE.

This Prepaid Expense will then be apportioned per month over the year to each month as expenses of $500.

Failing to make adjustments for the month of January would not overstate assets and stockholder's equity by $6,000 but by $500.

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For a honda accord, some factors shift demand left and others shift it right, as shown. classify each factor by how it shifts th

djverab [1.8K]

These are the factors by how it shifts the current demand curve to a new position:

Shifts left

- 2% rebate on a Toyota Camry, a substitute good

- Big sale coming in three months

Shifts right

- Free brake inspections

- Consumers' income increases by 10%

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3 years ago

On January 1, Edmiston Corporation had 1,600,000 shares of $10 par value common stock outstanding. On March 31 the company decla

SOVA2 [1]

Answer:

option D is correct.

Explanation:

The entry to record stock dividend is:

Debit

Stock Dividends 2400000 [ $= 1600000\times 0.10\times 15$ ]

Credit

Stock Dividends Distributable 1600000 [ $= 1600000\times 0.10 \times 10$ ]

Paid in capital in excess of par = 2400000 - 1600000 = 800000

Stock dividends will not affect the total equity of the stockholder

Therefore option D is correct.

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4 years ago

Demand for an electric fan is related to its selling price p (in dollars) by the equation n = 3680 − 80 p where n is the number

Ket [755]

Answer:

The price of $23 will maximize the total revenue.

Explanation:

Revenue is a function of price multiplied by quantity. Thus, the equation for revenue is,

Let p be the price.

Revenue = (3680 - 80p) * p

Revenue = 3680p - 80p²

To find the price that will maximize the revenue, we need to take the derivative of this equation as derivative tell us about change.

Taking derivative,

d/dp = 1 * 3680 - 2 * 80p

0 = 3680 - 160p

160p = 3680

p = 3680 / 160

p = 23

So, at price p=$23, the total revenue will be maximized.

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3 years ago

Multiple Choice Question 50 When manufacturing overhead costs are assigned to production in a process cost system, they are debi

Zina [86]

Answer:

they are debited to a Work in Process account

Explanation:

The journal entry to record the assignment of manufacturing overhead costs to production in a process cost system is done as follows:

Work - In Process (debit)

Overheads (credit)

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3 years ago

Some of the mangos from your neighbor's mango tree drop into your yard. You don't like mangos and the fallen mangos make it hard

Ksenya-84 [330]

Answer:

Explanation:

Your neighbor pays you $400 to not have the tree cut down

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3 years ago