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jeyben [28]
3 years ago
13

When a company purchases a new computer for the business with cash, __________. (choose 2)?

Business
1 answer:
SpyIntel [72]3 years ago
7 0
An asset is credited
an asset is debited
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The fact that corporate travelers are less price sensitive than most leisure travelers because the corporation pays for the trav
Readme [11.4K]

Answer:

The correct answer is D. shared cost effect

Explanation:

The shared cost effect refers to the reduction in price sensitivity of a customer created through the perception that part of the purchase price is paid for by a third party of the firm itself.

5 0
3 years ago
A local theater company sells 1,500 season ticket packages at a price of $250 per package. The first show in the 10-show season
swat32

Answer:

Dr cash    $375,000

Cr unearned revenue      $375,000

Dr unearned revenue     $37,500

Cr revenue                                    $37,500

Explanation:

The total amount realized from the sale of tickets is  $375,000($250*1500)

However,the cash proceeds should be debited to cash while it is also credited to unearned revenue

The revenue from fulfilling the performance obligation=1/10*$375,000=$37,500

The $37,500 is debited to unearned revenue and credited to sales revenue as that amount has now been earned

4 0
3 years ago
With one (1) example each, state and explain five (5) outputs derived from a business policy
vekshin1

Answer:

Business Policy refers to how a company guides it's actions towards achieving it's goals. In other words these are guidelines and actions that the company sets out as required for it's employees that the company may achieve long term goals.

Outputs of Business Policy includes,

a. Easier Decision Making

When a business properly sets out it's policy on certain actions then employees make decisions easier in relation to actions that would otherwise have been unclear as to how they could be resolved.

For example, stating that the company does not take gifts from clients will help a Fund Manager for example, avoid receiving tickets to a game from a client as gratitude for a job well done.

b. Outline Job Expectations

Business Policies let employees know exactly what is expected of them so that they may act accordingly. Surprisingly more often than not, employees can act in a certain way that could hurt the firm simply because they did not know better. Well established business policies can solve this problem.

For example, by stating the decision authority of jobs in a Department, employees can know not to overstep.

c. Employee Efficiency

Establishing business policies can help improve the work rate of employees by giving them.incentives, quotas, requirements or by removing distractions. The Employees will therefore focus more on their work and work better to improve the company.

For example, mandating that Social Networks not be used on company time will help some employees focus better.

d. Consistency

Well established business policies ensure that there is consistency in the operations of the business. Policies will tell the Employees how things are done and even when new employees come, the policies can guide them in their work so that they can pump out a consistent level of work to company expectations.

For example, Stating Audit Policy in an Audit Firm so that all employees may audit companies in a certain consistent way for easier comparison.

e. Improves Working Environment

Good and well implemented Business policies reduces friction amongst Employees amongst themselves and with management. Because everyone will have their roles, they will act accordingly and avoid stepping on the shoes of others.

For example, a certain team will be in charge of one facet of production and another team will be in charge of another. This way the teams don't clash on decisions to be made in the facet of production that they are in charge of.

8 0
3 years ago
At the beginning of year 3 omega company had a $60,000 balance in its accounts receivable account and a $3,000 balance in allowa
Contact [7]

The December 31, year 3 unadjusted (current) balance in allowance for doubtful accounts account (balance before expense recognition) for Omega Co. is $1,920.

<h3>How is the ending balance for allowance for doubtful accounts determined?</h3>

The ending balance of allowance for doubtful accounts can be determined by recognizing the company's policy towards doubtful accounts.

Some companies use an estimate based on the accounts receivable, credit sales revenue, aging of receivables, etc.

<h3>Data and Calculations:</h3>

Allowance for Doubtful Accounts:

Beginning balance  $3,000

Accounts Write-off   (2,000)

Ending balance        $1,920 ($48,000 x 4%)

Bad Debts Expense  $920 ($3,920 - $3,000)

Accounts receivable:

Beginning balance   $60,000

Revenue earned = $200,000

Cash collected         (210,000

Write-off of accounts  (2,000)

Ending balance      $48,000

Thus, the December 31, year 3 unadjusted (current) balance in allowance for doubtful accounts account (balance before expense recognition) for Omega Co. is $1,920.

Learn more about the allowance for doubtful accounts at brainly.com/question/26498002

7 0
2 years ago
A(n) ________ is a system based on a dominant ideology involving the widely shared belief that all people have an equal chance o
sammy [17]

Meritocracy is a system based on a dominant ideology involving the widely shared belief that all people have an equal chance of succeeding economically or a political philosophy stating that power should be vested in individuals based on their hard work and skills.

 





5 0
3 years ago
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