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4 years ago

Accounting provides information to

Business

2 answers:

Lena [83]4 years ago

6 0

It is D accounting is keeping track of all money records. And all of the above people would look at those records.

MrRa [10]4 years ago

4 0

I think the same all of the above

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You have 21 product displays. Six have 5 shelves and 15 have 4 shelves. It is store policy to dedicate at least one full shelf t

prohojiy [21]

Answer:

Explanation:

In 5 shelves put 6 in each. In 4 shelves put 15 in each. Add both numbers and get your answer

3 0

3 years ago

On April 1, 2016, the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $57,200, ha

Harman [31]

Answer:

2016 Depreciation

Dr depreciation expense $5720

Cr Accumulated depreciation $5720

2017 Depreciation

Dr depreciation expense $5720

Cr Accumulated depreciation $5720

Journal entries for 2018 expenditure

Dr repairs and maintenance $2900

Dr Equipment account $11850

Cr Cash account $14750

2018 Depreciation

Dr depreciation expense $4800.83

Cr Accumulated depreciation $4800.83

Explanation:

There are two policies for depreciating non-current asset especially when it is acquired part-way through the year like we have here, namely full year depreciation in the year of purchase and none in the year of disposal or proportional depreciation throughout the useful life,I am adopting the former in this question.

Formula for depreciation=cost-residual value/useful life

Yearly depreciation is ($57200-$0)/10=$5720

However,after two years the book value is calculated thus:

Book value=$57200-($5720*2)=$45760

additional cost incurred in enhancing the capacity of the asset would be added : $45760 +$11,850=$57610

Since the useful life has also been reviewed up to 12 years, the depreciation from now on is $57610/12=$4800.83

5 0

3 years ago

Read 2 more answers

A. Cash receipts from customers for services rendered __________ Operating __________Inflow

vaieri [72.5K]

Answer:

a. Cash receipts from customers for services rendered

Indication: Operating activities and Cash Inflow

b. Sale of long-term investments for cash

Indication: Investing actiivity and Cash Inflow

c. Acquisition of property, plant and equipment for cash

Indication: Investing activity and Cash Outflow

d. Payment of income taxes

Indication: Operating activity and Cash Outflow

e. Bonds payable issues for cash

Indication: Financing Activity and Cash Outflow

f. Payment of cash dividends declared in previous year

Indication: Financing activity and Cash Outflow

g. Purchase of short-term investments (not cash equivalents) for cash

Indication: Investing activity and Cash Outflow

h. Purchases of inventory for cash

Indication: Operating activity and Cash Outflow

Definition of terms

Operating Activity: This activity will show how much the cash flow from the business in operating . This included net profit and changes in assets and liabilities and amortization expenses .

Investing Activities: This part is shows the where the money is invested or investment is sold.

Financing Activities: This activities will show the cash flow from financing activities between the reporting period example. Raising or payment of the fund through the common stock , preference and bonds etc.

5 0

3 years ago

Stuart owns 300 shares of Turquoise Corporation stock and 2,000 shares of Blue Corporation stock. During the year, Stuart receiv

Crank

Answer:

The answer is: A) $0

Explanation:

I am assuming Stuart's stock is part of his retirement account. If this is true, then the stock dividends and stock splits are not taxed as they are earned (but they will be taxed later when Stuart starts receiving his distributions).

If Stuart's stock was not part of his retirement account, then he would have to pay taxes (usually a 15% tax rate applies).

5 0

3 years ago

Read 2 more answers

The original cost of a LIFO inventory item is below both replacement cost and net realizable value. The net realizable value les

serg [7]

Answer:

D. Original cost.

Explanation:

As we know that the inventory should be valued at lower of cost or market value. Also , the market value is the middle amount among the replacement cost, net realizable value, net realizable value - normal profit margin

It can be the replacement cost or net realizable value. We don't have an idea which one is the middle amount

Also, if the original cost is less than the market cost so we assume that the inventory should be valued at original cost

4 0

3 years ago