Ask question

Ask question

All categories

4 years ago

7

Tricia’s Decor purchased merchandise from House Beautiful and issued a promissory note. Tricia should record the transaction by

__________.

1 answer:

Tju [1.3M]4 years ago

6 0

I think that Tricia should record the action by entering it in, in a log/journal system or keep her recite.

You might be interested in

According to the concept of comparative advantage, a good should be produced in that nation where?

snow_lady [41]

According to the concept of comparative advantage, a good should be produced in that nation where its <u>domestic </u><u>opportunity cost</u><u> is the least.</u>

This is further explained below.

<h3>What does the opportunity cost?</h3>

Generally, Opportunity cost, in microeconomics, refers to the value or advantage foregone by doing one action over another.

To put it another way: if you do one thing, you can't do anything other.

In conclusion, Opportunity cost, in microeconomics, refers to the value or advantage foregone by doing one action over another.

To put it another way: if you do one thing, you can't do anything other.

Read more about opportunity cost

brainly.com/question/13036997

#SPJ1

complete question

According to the concept of comparative advantage, a good should be produced in that nation where:

A) its domestic opportunity cost is greatest.

B) money is used as a medium of exchange.

C) its domestic opportunity cost is least.

D) the terms of trade are maximized.

7 0

2 years ago

The following trial balance was extracted from the books of Kalekeno, a sole trader, at 31st Dec2018:

vesna_86 [32]

Answer:

Stock DEC 31st 2017 23,680

Carriage outward 2,000

Carriage inwards 3,100

Returns 2050 3,220

Purchases and sales 118,740 186,000

Salaries and wages 38,620

Rent 3040

Insurance 780

Motor expenses 6,640

Office expenses 2160

Lighting and heating expenses 1,660

General expenses 3140

Premises 50,000

Motor vehicles 18,000

Fixtures and fittings 3,500

Debtors and creditors 38,960 17,310

Cash at bank 4820

Drawings 12,000

Capital 126,360

332,890 332,890

Additional information

i) Closing stock was valued at ksh 29,460 as at 30th June 2018

ii) Mr kalekeno took part of the stock amounting to ksh 3000 for personal use

iii) Salaries and wages amounting to ksh 8,000 were pre-paid and ksh 360 of motor expenses accrued

iv) Bad debts written off amounted to 860

v) Depreciation is to be provided for as follows:

 Premises at 20%

 Fixtures and fittings at 15%

 Motor vehicles at 25%

All of a above asset were depreciated at cost

a) The income statement for the year ended 30 th June 2018 ( 5marks)

b) The statement of financial position (5 Marks)

Explanation:

7 0

3 years ago

A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 7 percent decrease in the

enyata [817]

Answer:

Option A

Explanation:

Complete Question

A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 12

percent decreases in the enrollment. If the university wants to increase its total revenue, it should ________

tuition because the demand for education at this university is ________.

A) not raise; elastic B) raise; inelastic C) not raise; inelastic D) raise; elastic

Solution -

The demand for college in the market is elastic which means that variation in variables such as college fees deeply impact the demand. If college fees is increased, the intakes or enrollment will fall down which means that the demand is not stable or on the basis of quality. Therefore, the demand for the college will not rise on fees hike and it shall be an elastic demand.

6 0

3 years ago

On its December 31, 2005 balance sheet, Shin Co. has income tax payable of $13,000 and a current deferred tax asset of $20,000,

anzhelika [568]

Answer:

The correct option here is C) $10,000.

Explanation:

When we are talking about income tax expense it includes the net income tax liability, deferred tax changes and changes in valuation account for deferred tax assets.

Given tax liability = $13,000

Current Deferred tax assets(2005) before valuation account = $20,000,

but at the end of year at 31 December, 2004 it was = $15,000

So here there has been an increase in the deferred tax asset, which means now the income tax expense would decrease ,as this future anticipated deduction will be treated as asset when it will be realized in the current year.

Also it is recognized by shin that 10% of the deferred tax would not be realized, so therefore it is an increase in the valuation account, which will reduce the deferred tax asset effect.

INCOME TAX EXPENSE =

Tax liability - increase in deferred tax asset + increase in valuation account

= $13,000 - ($20,000 - $15,000) + 10% x $20,000

= $13,000 - $5000 + $2000

= $10,000

3 0

3 years ago

In the decision-making process, you must take into account several cultural variables. Describe one of the variables associated

postnew [5]

Answer:

Explanation to this Answer is explained below in detail.

Explanation:

There is always a need to have an important control upon the decisions that we have in the business setup. Informed decision making is very necessary for business. People use different decision setups designed to help in the manufacturing process and most often come up with very fruitful decisions.

Describe one of the variables associated with risk tolerance:

One of the cultural factors associated with risk tolerance may be the threshold for when we can make decisions that are not detrimental to the cultural view of groups. We need to carefully consider our employees and make sure that our decisions are not too objective. Cultural-emotional bias can lead to decisions that can damage brand ownership throughout the business. This is very dangerous and detrimental for any company, so it is necessary to limit decisions and their consequences in terms of cultural sense to avoid any losses.

Describe one of the variables associated with internal/external locus of control:

The internal locust of control is the kind of person who is the best fit for all the jobs. So it is obvious that this person has some control over others. But there are some do's and don'ts for such kind of person as well. Such as, he has to communicate with almost everyone in the workplace. So, he must ensure neutrality in all aspects of other people with whom he is working. Such aspects are religion, race, caste. society etc. and his humor must not harm the emotions of anyone in the workplace.

Why are these important factors to consider?

In order to run business smoothly with maximum profits and best workforce and the best workplace. Effective decision making is the key to go. Hence, these variables are very important to achieve the effective business decision making in the long term.

7 0

3 years ago