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maksim [4K]
3 years ago
13

Costs of assets acquired in one period that will be recorded as expense in a future period are referred to as ______ and are ini

tially recorded as _____.
Business
1 answer:
Vadim26 [7]3 years ago
3 0

Answer: Prepaid expense, asset

Explanation: Prepayments made for goods and service which are expected to be received in the future are called prepaid expense. Common examples of prepaid expense are rent and insurance which are expected to be payed in advance but won't be consumed or expire over a certain accounting period. They are therefore initially recorded as assets, this enables the benefits derived from such asset to match expense over the incurred period of time.

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Can someone sell a car that is not registered to their name
postnew [5]
No. Someone can not sell a car legally if it is not registered to their name.
5 0
3 years ago
For every A you earn on your report card, your grandma gives you a twenty dollar bill. This is an example of
never [62]

Answer:

a positive incentive I think

Explanation:

8 0
2 years ago
Monette Corporation has found that 70% of its sales in any given month are credit sales, while the remainder are cash sales. Of
hoa [83]

Answer and Explanation:

The preparation of cash collection budget is shown below:-

                            Cash Collection Budget

               For the month of January through March

                                   January         February         March          Quarter

Cash sales                   $43,500      $37,500           $58,500      $139,500

Collection on Credit sales

20% month of sale       $20,300      $17,500        $27,300      $65,100

40% month after            $33,600     $40,600       $35,000      $109,200

24% two months after    $17,640        $20,160        $24,360        $62,160

Total Cash collection      $115,040      $115,760      $145,160        $375,960

Working Note 1

                   November        December       January     February     March

Total Sales   $105,000          $120,000       $145,000    $125,000   $195,000

Cash sales   $31,500            $36,000       $43,500     $37,500     $58,500

Credit sales   $73,500            $84,000       $101,500      $87,500     $136,500

Credit sales is 70% of Total sales every month

Cash Sales is 30% of Total sales every month

Working Note 2

                            January        February       March         Quarter

Cash sales            $43,500      $37,500      $58,500        $139,500

Cash collection from credit sales of

November            $17,640                                                 $17,640

December          $33,600      $20,160                               $53,760

January                $20,300     $40,600        $24,360         $85,260

February                                   $17,500       $35,000         $52,500

March                                                          $27,300            $27,300

Total collections  $115,040     $115,760      $145,160           $375,960

6 0
3 years ago
An ____________________ makes you distinctive, helping you differentiate yourself from rivals.
zloy xaker [14]

An<u> order winners </u>makes you distinctive, helping you differentiate yourself from rivals.

<h3>What is Order winners?</h3>

Order winners can be defined as the process that make  standard out or unique making more customers to be attracted to your product.

Customers tend to often look at price ,product quality before determining whether the buy a product or not, based on the order winner gives you competitive advantages as it drawn customers to your product.

Therefore An<u> order winners </u>makes you distinctive, helping you differentiate yourself from rivals.

Learn more about order winners here:brainly.com/question/14755245

#SPJ1

8 0
2 years ago
The entry to record the use of direct materials in production would include a A. credit to Finished Goods Inventory. B. debit to
earnstyle [38]

Answer:  

B. debit to WIP inventory

Explanation:

The journal entry to record the usage of direct material in production is

Work in Process Inventory                                  Dr.

     To Raw Material Inventory

(Raw materials consumed recorded)

Raw material inventory is an asset. It's consumption should reduce it's balance. A debit increases an asset's balance while a credit reduces it's balance.

Work in process, like raw material is an inventory account i.e an asset. A debit increases their balance whereas a credit reduces it.

Here, raw materials i.e direct material have been issued for production, which would reduce their balance and increase the balance of work in process as finished goods are yet to be made.

3 0
3 years ago
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