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givi [52]
3 years ago
13

Olga, a salesperson for Pre-owned Cars & Trucks, Inc., tells Quincy, "This is the best car I’ve ever seen." This statement i

s
Business
1 answer:
lara31 [8.8K]3 years ago
4 0

Answer:

puffery

Explanation:

The extended and exaggerated presentation of any belief or idea is said to be puffery. Such statements are made to provide evidence to the vague claims. Also, it misinterprets and claims false evidence. In the above question, the statement claimed by Olga is an exaggerated statement about the car. Hence, this is an example of puffery.

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A local government operates on a calendar-year basis. Prepare journal entries to record the following transactions and events fo
astra-53 [7]

Answer:Please find answers in explanation column

Explanation:

1. Journal to record Short term borrowing

Date                 Account title                             Debit                  Credit

Feb. 1, 2018     Cash                                         $400,000

Tax anticipation notes payable                                                   $400,000

2.Journal to record  accrued interest payable on TAN)

Date                 Account title                             Debit                  Credit

Dec. 31, 2018   Expenditures – interest            $3,666.67  

Accrued interest payable                                                            $3,666.67  

Calculation :Accrued interest=  Principal x rate x period (time)

$400,000 x 1% x 11/12= $3,666.67  

3. Journal to record investment in  CD

Date                 Account title                             Debit                  Credit

April 1, 2018       Investments                            $100,000

                            Cash                                                                    $100,000

4.Journal To record redemption of CD with interest

Date                 Account title                             Debit                  Credit

Sept. 30, 2018          Cash                       $100,400

                               Investments                                                    $100,000

Cash Revenues – interest income                                                      $400

Calculation

Accrued Interest

Principal x rate x period (time= )100, 000 x 0.8 %x 6/12)= $400

Cash = Investment + interest= $100,000 + $400 = $100,400

4 0
3 years ago
The equivalent units in beginning work in process inventory plus the equivalent units in ending work in process inventory equals
vivado [14]

Answer:

False

Explanation:

The formula for equivalent units units as follows:

Opening Work in Process + Equivalent units on which the work is done - Closing Work in process = Units Transferred

Therefore, ideally,

Opening work in process - Closing work in process = Units transferred - Equivalent units on which work is done.

As adding all the cost incurred during the period to opening inventory of work in process, we get the total cost for the period, thereafter, deducting the cost allocated to closing work in process we get the value of goods produced and transferred.

<u>Therefore, above statement is false.</u>

8 0
3 years ago
Deere &amp; Company is a global manufacturer and distributor of agricultural, construction, and forestry equipment. The company
barxatty [35]

Answer:

Days in Inventory = 63 days

Explanation:

We know,

Days in Inventory = 365 days ÷ Inventory Turnover

Given,

Inventory turnover = Cost of goods sold ÷ Average Inventory

Inventory turnover = 16,936 ÷ [( $2,410 + 3,430) ÷ 2]

Inventory turnover = 16,936 ÷ (5,840 ÷ 2)

Inventory turnover = 16,936 ÷ 2,920

Inventory turnover = 5.8

Putting the values into the formula, we can get

Days in Inventory = 365 days ÷ Inventory Turnover

Days in Inventory = 365 days ÷ 5.8

Days in Inventory = 63 days

3 0
3 years ago
E14.3 (LO 1) (Entries for Bond Transactions) Presented below are two independent situations. 1. On January 1, 2020, Simon Compan
Savatey [412]

Answer:

1) January 1, 2020

Dr Cash 200,000

    Cr bonds payable 200,000

July 1, first coupon payment

Dr Interest expense 4,500

    Cr Cash 4,500

December 31, fourth coupon payment

Dr Interest expense 4,500

    Cr Interest payable 4,500

2) June 1, 2020

Dr Cash 104,000

     Cr Bonds payable 100,000

     Cr Bond interest payable 4,000

July 1, first coupon payment

Dr Interest expense 2,00

    Cr Cash 2,000

December 31, accrued interest expense

Dr Interest expense 6,000

    Cr Interest payable 6,000

 

8 0
3 years ago
Which education and qualifications are most helpful for Revenue and Taxation careers? Check all that apply. leadership skills cu
DIA [1.3K]

Answer:

2,4,5,7

Explanation

i did it on edge and mark me brainliest.

5 0
3 years ago
Read 2 more answers
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