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2 years ago

11

Which accounting principle dictates whether the cost of a repair should be expensed?

1 answer:

vodomira [7]2 years ago

8 0

Which accounting principle dictates whether the cost of a repair should be expensed?

d. matching

As per matching concept, All revenues have to be recorded along with expenses incurred to earn those revenues. Thus, revenues need to be accounted.

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Eisler Corporation issued 2,000 $1,000 bonds at 101. Each bond was issued with one detachable stock warrant. After issuance, the

ivann1987 [24]

Answer:

The journal entry is as follows:

Cash A/c Dr. $2,020,000

Discount on bonds payable A/c Dr. $59,216

To Bonds payable $2,000,000

To Paid in capital - stock warrants $79,216

(To record the issuance of the bonds and warrants)

Workings:

Cash:

= 2,000 × $1,000 × 101%

= $2,020,000

Discount on bonds payable:

= 2,000,000 - 2,020,000 × (980 ÷ 1,020)

= $59,216

3 0

3 years ago

the four key problem-solving steps occurring during the agreement stage: brainstorm as many solutions as possible, develop an ac

Nookie1986 [14]

The agreement stage incorporates four key problem-solving steps. Each is briefly described below:

Brainstorm as many solutions as possible: in the first step, several possible solutions to a problem are analyzed so that the best optimal solution can be considered.
Develop an action plan: in this stage, a comprehensive plan is developed in which tasks are assigned to respective individuals with the resources to be used and the required amount of time to complete the tasks.
Implement the action plan: this is the execution phase where the actual implementation of tasks is performed based on the requirements mentioned in the action plan.
Evaluate outcomes and the process: this is the last step in which generated results and outcomes are evaluated to check if they are implemented as intended.

You can learn more about problem-solving steps at

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6 0

8 months ago

A registered investment adviser and its representatives have been registered in a State for the past 5 years. The current regist

n200080 [17]

D neither the investsmeant advice nor the investment adviser representatives are required to reregister
in the state

8 0

2 years ago

Current information for the Healey Company follows: Beginning raw materials inventory $15,200 Raw material purchases 60,000 Endi

elena-14-01-66 [18.8K]

Answer:

125,800

Explanation:

FIRST we check how many materials were used in production

beg raw + purchases = ending raw + used in production

15,200 + 60,000 = 16,600 + used in production

used in production = 58,600

SECOND the cost added during the period for the three main cost components

Raw materials 58,600

DL 42,800

MOH 30,000

cost added during the period 131,400

LASTLY the COGM

Beg WIP + cost added = ending + COGM

22,400 + 131,400 = 28,000 + COGM

COGM = 153,800 - 28,000

COGM = 125,800

3 0

2 years ago

Sumner sold equipment that it uses in its business for $30,000. Sumner bought the equipment a few years ago for $80,000 and has

Solnce55 [7]

Answer:

long-term capital loss 10,000

Explanation:

80,000 purchase

(40,000) accumulate depreciation

40,000 net book value

30,000 sales price

-10,000 loss

This is a long-term capital loss because the assets was in the company possesions for a longer time than 12 months.

6 0

2 years ago