Which kind of con involves the payoff of early investors with money obtained from later investors, in a doomed enterprise?

On May 1, the City of Dustin was notified of approval of a $300,000 federal operating grant, payable on a reimbursement basis as

Nastasia [14]

Answer:

The correct answer is D) No journal entry will be made until expenditures for the authorized purpose occur.

Explanation:

Remember that in accounting the rights and obligations are recognized, so that if the company has acquired a right to claim something in a future time, it must be recognized in the accounting, and also if it has acquired an obligation that a third party can demand In the future, you must recognize it.

The accounting by causation, contrary to the accounting by the cash system, recognizes a fact at the time the obligation arises in front of a third party, or when the enforceable right in favor of the entity is born.

This principle is intimately related to the principle of realization, insofar as it is affirmed that only facts must be caused, and we know that a fact has been realized when the obligation or the law is born, so the principle of causation cannot exist without First there was the principle of realization.

The application of the principle of causation means that the economic facts must be recognized and accounted for in the accounting period in which they occur, that is, in the period in which the good is sold, the service is provided or in which the obligation is legally established or the right.

8 0

4 years ago

When a line cook in a restaurant uses raw meat to cook a hamburger that becomes part of the restaurant's Super Burger Special, t

gulaghasi [49]

Answer:

Transformation process.

Explanation:

When a line cook in a restaurant uses raw meat to cook a hamburger that becomes part of the restaurant's Super Burger Special, the cook is taking part in a transformation process.

A transformation process can be defined as the capabilities possessed by an organization, which are then integrated into technology, internal processes, and management, for the singular purpose of converting inputs into outputs in order to meet the needs or requirements of their customers.

In this scenario, the cook uses raw meat as an input in the creation of an output, which is the restaurant's Super Burger Special.

7 0

3 years ago

On which of the following goods or services might a tax increase be hardest to pass on to consumers? A) automatic car washes

alexandr402 [8]

It would be hardest to pass a tax increase on A. automatic car washes, because car washes are relatively more elastic than other products mentioned, so consumers would like this change the least.

3 0

3 years ago

Read 2 more answers

On January 1, a company issued a $50,000 face value, 8% five-year bond for $46,139 that will yield 10%. Interest is payable on J

sammy [17]

Answer: B. 46,768

Explanation: Completing an amortization table would allow us find for the present year the bond carrying amount.

The face amount of the bond multiplied by the coupon rate gives the interest payment. This payment adjusted for the number of installments paid per year is $2,000 which is given by:

50,000 × (8/2)% interest (half the year).

Interest expense is calculated as the effective rate of 5% multiplied by the beginning of the year's carrying value. The difference between the interest payment and interest expense give the amortization of discount.

Carrying Value: 46,139 (A) Value at 1/1/X1

Cash: 2 ,000 &n bsp; (50,000 x .04) (B) Never Changes

Expense: 2,30 6.95 (46,139 x .05) (C)

(B - C) -306.95 (D)

(A - D) 46,445.95 (Carrying Value at 6/30/X1)

----------------

Carrying Value: 46,445.95 (A) Carrying Value at 6/30/X1

Cash: 2,000.0 0 (50,000 x .04) (B) Never Changes

Expense: 2,322.30 (46,445.95 x .05) (C)

(B - C): -322.30 (D)

(A - D): 46,768.25 (Carrying Value at 12/31/X1

5 0

3 years ago

What is the opportunity cost of computer chip production (in terms of bags of potato chips/computer chip)

Natali5045456 [20]

The opportunity cost of computer chip production is 2.

<h3 /><h3>Definition of opportunity cost.</h3>

Opportunity cost of the next best option that is forgone when one option is chosen over other options. Opportunity cost is also known as implicit cost.

<h3>Calculation of opportunity cost</h3>

In order to determine the opportunity cost divide the number of potato chips by the number of computer chips that can be made.

Opportunity cost = number of potato chips / number of computer chips

50 / 25 = 2

Please find attached the complete question. To learn more about opportunity cost, please check: brainly.com/question/623811

7 0

2 years ago