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
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.

You might be interested in
What form of capital will be obtained by Transnet​
melisa1 [442]

Explanation:

All tenders should be submitted on the appropriate tender forms as issued by trasnet and as per instructions in the bid documentation

4 0
1 year ago
Which of the following would likely be covered under homeowners insurance but NOT by renter's insurance?
Simora [160]
Hello, your correct answer is,

<span>C) Tree branch breaks your bedroom window during a storm.

Hope I helped, tell me if I'm wrong!
</span>
8 0
3 years ago
Read 2 more answers
In 2018, CPS Company changed its method of valuing inventory from the FIFO method to the average cost method. At December 31, 20
MaRussiya [10]

Answer:

Dr Retained earnings $8.2

Cr Inventory $8.2

Explanation:

By changing method of an inventory valuation, the company should apply it retrospectively based on IAS 8 guidelines on change in accounting estimates and errors. Thus, the said difference from FIFO method to Weighted Average method of valuation should be credited directly against Retained earnings account because, accounts are already closed right after the year ended.

$32-$23.8= $8.2 million

To record the said adjustment you have to

Debit Retained earnings and credit Inventory in the amount of $8.2 million.

4 0
3 years ago
Hilary is a retired teacher who lives in Miami and does some consulting work for extra cash. At a wage of $50 per hour, she is w
Basile [38]

Answer:

Hilary is a retired teacher who lives in Miami and does some consulting work for extra cash. At a wage of $50 per hour, she is willing to work 10 hours per week. At $65 per hour, she is willing to work 19 hours per week.

Using the midpoint method, the elasticity of Hilary’s labor supply between the wages of $50 and $65 per hour is approximately 2.37 , which means that Hilary’s supply of labor over this wage range is elastic.

Explanation:

Midpoint elasticity = (Change in labor supplied / Average labor supplied) / (Change in wage rate / Average wage rate)

= [(19 - 10) / (19 + 10) / 2] / [$(65 - 50) / $(65 + 50) / 2]

= [9 / (29 / 2)] / [15 / (115 / 2)]

= (9 / 14.5) / (15 / 57.5)

= 0.62/0.26

Midpoint elasticity = 2.37

Once elasticity is greater than 1, supply of labor is Elastic.

5 0
3 years ago
High-performance teams are characterized by: members with only individual accountability. members with specialty skills rather t
Soloha48 [4]

Answer:

extensive communication mechanisms.

Explanation:

High-performance teams is a term often used in organizational settings to describes teams that often performed better than other teams and beyond expectation. They are associated with various characteristics amongst others which are:

1. Presence of extensive communication mechanisms

2. Constant collaboration among team members

3. Define objectives and goals

4. Ability to tackle and resolve conflict amicably with speed.

7 0
3 years ago
Other questions:
  • business processing company, trains all of its employees in handling customer calls. After the completion of the training, the c
    8·1 answer
  • Your favorite ice cream travels from the producer, who manufacturers the product, through several other organizations before arr
    9·1 answer
  • Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production
    8·1 answer
  • As an investor and based on your understanding of risk, which of the following statements is true?
    12·1 answer
  • Which of the following is necessary to create an agency relationship? a. consideration b. an agent with contractual capacity c.
    11·1 answer
  • At which stage of marketing strategy would the marketing team address the question, "should we engage in these practices?"
    15·1 answer
  • Ruth Company showed the following balances at the end of its first year.
    6·1 answer
  • QUESTION 1 When several alternative investment proposals of the same amount are being considered, the one with the largest net p
    13·1 answer
  • An income statement under absorption costing includes which of the following: ______________
    7·1 answer
  • The delivered-equipment cost for a fully equipped CNC machining system is $4.2 million. The direct cost factor is 1.52 and the i
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!