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3 years ago

Matching is:

Business

1 answer:

kvasek [131]3 years ago

3 0

Answer:

2. A result of recognizing revenues and expenses that arise from the same transaction.

Explanation:

Matching is a concept in accounting which favors the accrual accounting over cash basis of accounting.

It is a concept in which the cost incurred during the course of carrying out some activities that generate revenue is match to the revenue generated.

Hence Matching is a result of recognizing revenues and expenses that arise from the same transaction.

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1. On December 31st, 2012, Bingo Corp. borrowed $50,000 from a bank. Half of the loan was to be repaid in 2013, and the other ha

olga2289 [7]

Answer:

undervalued assets an liabilities by 50,000

Explanation:

The financial statement for the fiscal year ended on December 31th, 2012

will have the following mistake:

Liabilities are undervalued by 50,000

Cash wll be undervalued by 50,000

As the note payable is not recorded neither the cash receipts from the loan.

Because this transaction is missing, we are not doing a correct representation of reality. This account will be undervalued.

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4 years ago

Question 10

Schach [20]

Answer:

add 200 shillings to the book balance

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3 years ago

Several years ago, Black & Decker purchased General Electric's small appliances product line. Black & Decker purchased t

TEA [102]

Answer:

The correct answer is b. Cash Cow.

Explanation:

Multinationals look beyond their core business for additional sources of income to increase their income statement. Secondary income is those from products or services that differ from the main ones within a business. And despite their name, they can play a leading role in a brand's strategy and can give a vital boost to a company's revenue.

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3 years ago

According to the law of demand, as prices rise, ceteris paribus A. quantity demanded decreases. B. quantity demanded increases

vodka [1.7K]

Answer:

A) quantity demanded decreases.

Explanation:

The law of demand states that as the price of a good or service increases, the quantity demanded (not the demand) of the good or service will decrease. This happens because less consumers are willing to purchase the goods or services and since the supply doesn't change, overstocking will result, which will decrease the equilibrium price.

*The demand of a good or service is shown by the demand curve, but the points in the curve represent the quantity demanded.

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3 years ago

Buffalo Company had bonds outstanding with a maturity value of $307,000. On April 30, 2017, when these bonds had an unamortized

Troyanec [42]

Answer:

bonds carrying value = $307,000 - $10,000 = $297,000

the journal entry to record the bond redemption:

April 30, 2017, redemption of bonds

Dr Bonds payable 307,000

Dr Loss on redemption of bonds 25,350

Cr Cash 322,350

Cr Discount on bonds payable 10,000

the journal entry to record the issuance of bonds:

March 31, bonds were issued

Dr Cash 313,140

Cr bonds payable 307,000

Cr Premium on bonds payable 6,140

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3 years ago