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harkovskaia [24]
3 years ago
8

What type of report must accompany claims when an unusual, new, seldom used, or category i unlisted code or category iii code is

submitted?
Business
1 answer:
oksano4ka [1.4K]3 years ago
8 0

The answer is special report for this contains the mentioned description above. This type of report includes definition or description to the extent and procedures, detailed description is required and time and effort with equipment is also necessary in doing the special report.

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If a company increases its sales price per unit for product​ a
Effectus [21]

Answer:

TR decreases if Demand is Elastic, TR increases if Demand is Inelastic

Explanation:

Price Elasticity of Demand is the responsive change in price, due to change in price. Elastic demand means demand responds more to price change, Inelastic demand means demand responds less to price change. Total Revenue is the total receipt value from sales = Price x Quantity

  • If demand is elastic : price & total revenue are inversely related - price increase, demand decrease & price decrease, demand increase.
  • If demand is inelastic : price & total revenue are directly related - price increase, demand increase & price decrease, demand increase

So, If a company increases its sale price per unit of a product :

  • Total Revenue would increase as a result of price rise, if demand is Inelastic
  • Total Revenue would decrease as a result of price rise, if demand is Elastic
7 0
3 years ago
What is congressional oversight and how strongly is it pursued by Congress?
ivanzaharov [21]
The congressional oversight means that the Congress, that is the legislative branch of the government has the right to check on the work of the executive branch, mostly the president. It is actually not implemented very often, ans is considered a last resort method, for example when the president is impeached (the last impeachment was of Bill Clinton)

8 0
3 years ago
Causwell Company began 2018 with 11,000 units of inventory on hand. The cost of each unit was $4.00. During 2018 an additional 3
Kaylis [27]

Answer and Explanation:

For computing the cost of goods sold under two method first we have to determine the cost per unit which is shown below:

The average cost per unit is

= $108,750 ÷ 25,000 units

= $4.35

Now the cost per unit is

Total cost (11,000 units + 35,000 units) × $4.35   $200,100

Beginning units (11,000 units × $4) $44,000

The Remaining cost for 35000 units ($200,100 - $44,000)  $156,100

Divide by  Purchase cost per unit of 35000 units   $4.46

Now the cost of goods sold are as follows

1. Under the FIFO method

Beginning        11,000 × $4.00  $44,000  

Purchased        14,000 × $4.46  $62,440  

Total         25,000           $1,06,440

2. Under the LIFO method

Purchased        25,000 × $4.46  $1,11,500

4 0
3 years ago
Olivia Village was recently incorporated and began financial operations on July 1, 20X2, the beginning of its fiscal year. The f
sergey [27]

Answer:

Olivia Village

Journal Entries:

July 1, 20X2 to June 30, 20X3:

1. No journal entry required.

2. Debit Property Taxes Receivable $390,000

   Credit Property Tax Revenue $390,000

To record the levying of property taxes

Debit Uncollectible taxes expense $7,800

Credit Uncollectible tax expense $7,800

To record the estimated uncollectible of 2%.

3. Debit Marketable Securities $50,000

   Credit Restricted Trust Fund Donations $50,000

To record the donation of marketable securities.

Debit Restricted Trust Fund $5,500

Credit Marketable Securities Revenue $5,500

To record the revenue earned on marketable securities.

4. Debit Internal Service Fund $5,000

Credit General Fund $5,000

To record the transfer of funds.

5. Debit Special Assessment Fund $72,000

Credit Special Assessment Bonds $72,000

To record the issue of bonds for special assessment project.

Debit Special Assessment Receivable $24,000

Credit Special Assessment Levy $24,000

To record the special assessment levied

6. Special Assessment Fund $27,000

Credit Special Assessment Receivable $24,000

Credit General Fund $3,000

To record the collection of the first year's special assessment and transfer from General Fund.

7. Debit Capital Projects Fund $75,000

Credit Contractor Payable $75,000

To record the letting of the contract for lighting.

June 30, 20X3:

Debit Contractor Payable $75,000

Credit Capital Projects Fund $75,000

To record the payment of the contractor for the project.

8. Debit Supplies $1,900

Credit Internal Service Fund $1,900

To record the purchase of various supplies.

9. Debit General Fund $393,000

Credit Property taxes Receivable $386,000

Credit Licenses and permit fees $7,000

To record cash collections for general fund

Debit Allowance for Uncollectible taxes $3,800

Credit Uncollectible Expenses $3,800

To adjust the allowance for uncollectible taxes to $4,000 balance.

10. Debit General Fund $500,000

Credit Bonds Payable $500,000

To record the issue of 6%, 20-year bonds payable.

11. Debit Fire Truck $15,000

Credit General Fund $15,000

To record the payment for the purchase of a fire truck.

Explanation:

Olivia Village can use the general journal to initially record transactions that occur during the year.  The journal shows the accounts to be debited and the accounts to be credited.

3 0
3 years ago
A company has net income of $945,000; its weighted average common shares outstanding are $189,000. its dividend per share is $0.
ExtremeBDS [4]

Explanation:

Net Income=$945000

Average outstanding=$189000

Per Share=$0.90

Market price=$97

Book value=$89.50

Ratio=7:5

4 0
3 years ago
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