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3 years ago

Which of the following statements about adjusting entries is NOT true?

Business

1 answer:

vfiekz [6]3 years ago

8 0

Answer:

4. Adjusting entries are typically recorded on the last day of the accounting period.

Explanation:

They aer recorded on the last day of the accounting period as we do adjustment for accrual accounting like:

expired prepaid rent, expired prepaid insurance, accrued wages payable, accrued revenues, accrued interest revenues or interest expense, depreication on assets, amortization and other.

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Hilton Brews is a company producing instant mixes for all kinds of beverages. It notices that the market for tea has risen due t

Zina [86]

Answer:

Hilton Brews

The organizational growth strategy used by Hilton Brews is:

B. Diversification.

Explanation:

Diversification strategy is the corporate strategy that Hilton Brews has adopted to take advantage of the increased health benefits of teas by introducing a new line of organically grown and processed teas. Diversification strategy is different from other corporate growth strategies which Hilton Brews could have adopted, including market expansion, market penetration, and product development.

7 0

2 years ago

Huai takes out a $3,600 student loan at 6.6% to help him with 2 years of community college. After finishing the 2 years, he tran

Alja [10]

Answer:

a. The monthly payment on loan 1 is $76.03.

b. The monthly payment on loan 2 is $411.69.

Explanation:

a. Calculate the monthly payment on loan 1.

To determine the amount of periodic payments, the present value of annuity formula should be used:

$PV=P(\frac{1-(1+r)^{-n} }{r} )$

Where:

PV= present value

p=periodic payment

i=rate of interest

n=number of periods

We get the data for this exercise:

PV= 3,600 (loan).

p= unknown (we must find this value)

i= 6.6% or 0.066. However, because we need to know the monthly payment, the interest rate should be divided by 12 (0.066 / 12).

n= 4 years and 7 months, that is 55 months.

And we replace in the formula:

$3600=P(\frac{1-(1+\frac{0.066}{12})^{-55} }{\frac{0.066}{12} } )$

$3600=P(\frac{1-(1+0.055)^{-55} }{0.0055} )$

$3600=P(\frac{1-(0.7395812268)}{0.0055} )$

$3600=P(\frac{0.2604187732}{0.0055} )$

$3600=P(47.348867)$

Therefore:

$P=\frac{3600}{47.348867}$

$P=76.03$

The monthly payment on loan 1 is $76.03.

b. Calculate the monthly payment on loan 2.

We get the data for this exercise:

PV= 11,600 (loan 2).

p= unknown (we must find this value)

i= 7.3% or 0.073. However, because we need to know the monthly payment, the interest rate should be divided by 12 (0.073 / 12).

n= 2 years and 7 months, that is 31 months.

And we replace in the formula:

$11600=P(\frac{1-(1+\frac{0.073}{12})^{-31} }{\frac{0.073}{12} } )$

$11600=P(\frac{1-(1+0.006083)^{-31} }{0.006083} )$

$11600=P(\frac{1-(0.8286047296)}{0.006083} )$

$11600=P(\frac{0.1713952704}{0.006083} )$

$11600=P(28.1761088936)$

Therefore:

$P=\frac{11600}{28.1761088936}$

$P=411.69$

The monthly payment on loan 2 is $411.69.

8 0

3 years ago

Suppose the government grants a subsidy to the producers for every car produced. The change in the amount sold will be greater w

Mama L [17]

The change in the amount sold will be greater when the price elasticity of demand is greater than 1. (option 3).

<h3>What is price elasticity of demand?
</h3>

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

Demand is elastic when the coefficient of demand is greater than one. This means that for a small change in price, the quantity demanded would be greater.

To learn more about price elasticity of demand, please check: brainly.com/question/18850846

#SPJ1

8 0

1 year ago

Bebe Rexha has AGI of $100,000 and makes the following expenditures:

shutvik [7]

Answer:

$31000 will be allowed as expenditure

Explanation:

given data

Wheelchair = $10,000

Whirlpool bath = $10,000

Maintenance = $1,000

Increased utility bills = $1,000

various home modifications = $10,000

solution

as here value of the home increased = $1000

and that is increaed utility bill of the whirlpool

so that expenditure will be added to value of asset

total expenditure is = $10000 + $10000 + $10000 + $1000 = $31000

so $31000 will be allowed as expenditure

7 0

2 years ago

Sully Company uses 3,000 yards of canvas each day to make tents. It usually takes ten days from the time Sully orders the materi

Margaret [11]

Answer:

42,000 yards

Explanation:

The order point must account for the total usage during the lead-time plus the desired safety stock.

If the lead-time is 10 days, the daily usage is 3,000 yards, and Sully desires a safety stock of 12,000 yards, the order point must be:

$P = (3,000*10)+12,000\\P=42,000\ yards$

Sully's order point is 42,000 yards.

4 0

3 years ago