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
vesna_86 [32]
3 years ago
14

On february 1, pinn corp., paid $40,000 in advertising expenses for ads that will run in a periodical for the entire calendar ye

ar. on july 3, pinn paid $430,000 for anticipated major repairs to their machinery used for business. the repairs will benefit operations for the remainder of the calendar year. assuming pinn is a calendar year corporation, what amount of these expenses should pinn include in its third quarter interim financial statements?
Business
1 answer:
Licemer1 [7]3 years ago
8 0

For the advertising expense, the expense shall be calculated for three months of the third quarter. The total amount of advertising expense $40,000 is paid for 12 months hence expense for three months shall be (40000*3/12) = $10,000

The amount of $430,000 is prepaid repair and it shall be adjusted as Repair expense only when the actual repair is incurred. Hence according to the information given, there shall be no repair expense recognized for the third quarter.

Hence total expense in the third quarter interim financial statements shall be <u>$10,000</u>





You might be interested in
AirBird is a domestic airline company that is building a Customer Relationship Management (CRM) system that focuses on providing
solmaris [256]

Answer:

AirBird should help their customers and provide a trial on how to run the application of the Airline on their phones. The trial or demo will help the customers to easily access their requirement.

Explanation:

Customer Relationship Management is important in todays world. There are many competitors available and the bargaining power of customers is high as they can easily switch to other airline because of available alternates. The airline company has launched a program which will help its customers to easily access all the information about the airline. The customers find it easy to access the information they require by just a click on their phone. They can search flights, routes and prices of the flight on their phones.

3 0
3 years ago
Jax is reading an informational text that uses words and phrases like as a result of, due to, and consequently. what type of inf
saul85 [17]

Jax is reading an informational text that uses words and phrases like as a result of, due to, and consequently. Jax is reading about the conjunction.

<h3>What is Conjunction?</h3>
  • A conjunction, often known by the abbreviations conj or cnj, is a speech unit that joins the conjuncts of a conjunction, which are words, phrases, or clauses.
  • There may be overlap between this description and that of other elements of speech, therefore it is necessary to specify what a "conjunction" is in each language.
  • Depending on the sentence's grammar, a given word in English may have various meanings, including preposition or conjunction. For instance, the preposition after is a conjunction in "he departed after they battled," but a preposition in "he left after the fight."
  • A conjunction is typically an unchanging (uninflected) grammatical particle that can stand between the conjoined items or not.

To know more about conjunction with the given link

brainly.com/question/3685906

#SPJ4

5 0
2 years ago
Inventory Valuation under Variable Costing Lane Company produced 50,000 units during its first year of operations and sold 47,30
otez555 [7]

Answer:

1. $5.62

2. $15,174

Explanation:

1. The computation of the cost of one unit of product under variable costing is shown below:-

Total product cost = Direct material + Direct labor + Variable overhead

= $123,000 + $93,000 + $65,000

= $281,000

Unit product cost = Total product cost ÷ Produced units

= $281,000 ÷ $50,000

= $5.62

2. The computation of cost of ending inventory under variable costing is shown below:-

Unsold at end = Unit produced - Unit sold

= 50,000 - 47,300

= 2,700

Cost of ending inventory = Number of units sold × Unit product cost

= $5.62 × 2,700

= $15,174

3 0
3 years ago
Gerald rowe spends a weekend helping his neighbor john fritz build a new garage. two weeks later, after the garage is complete,
Ivanshal [37]

Answer:

cannot sue John for the extra $250 asJohn made the promise to him based on past consideration.

Explanation:

When Gerald was helping John build the garage, there was no agreement between them on payment for services. After the two weeks John made the promise to pay Gerald.

This is not a binding promise as John is paying Gerald at his own discretion as a past consideration, since no contract was agreed between them.

7 0
3 years ago
The difference between representative money and fiat money is that?
Cerrena [4.2K]
Great question! Fiat money deries it's value from law or regulation. However representative money derives its value either from a claim on a commodity (gold for example). However sometimes representative money means it has value higher than what it is made of, ie if you melt it down it is worth less than before it is melted down. In this sense fiat money is a type of representative money
8 0
4 years ago
Other questions:
  • 1976, the cost of a movie was $4. in 2012, it's $9. if the cpi for 1976 is 56, and 228 for 2012. how much is the cost of a 1976
    10·1 answer
  • Why can young people often take greater risks with their investments than older people can?
    8·1 answer
  • B. if lucinda has only $18 to spend and the price of kewpie dolls and the price of beanie babies are both $6, how many of each w
    11·1 answer
  • Keeping your _____ and _____ in mind will dictate what you say and how you say it.
    10·2 answers
  • Prime Cost and Conversion Cost Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and r
    14·1 answer
  • Mary's credit card situation is out of control because she cannot afford to make her monthly payments. She has three credit card
    5·1 answer
  • All of the following are good ways to assess your interests and skills, except
    11·1 answer
  • "Which asset allocation is BEST for a 35-year old single risk tolerant investor looking to achieve the highest returns?"
    9·1 answer
  • Because they have similar skills, you choose Jim. Choosing your friend is OK in this case.
    7·1 answer
  • During business cycle expansions when income and wealth are rising, the demand for bonds ________ and the demand curve shifts to
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!