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3 years ago

Select the correct answer.

Business

1 answer:

Dima020 [189]3 years ago

5 0

The correct option is A

Explanation:

Under the accrual basis of an accounting system, an expense has to be booked in the period in which it is incurred whether such an expense has been paid or not.

The following Journal Entry will be passed in the books of accounts of a company:

Wages account will be debited with an amount of 5000 and Wages Payable account will be credited with an amount of 50000

Thus, the correct answer will be option A from the given options.

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Tyson is a 25 percent partner in the KT Partnership. On January 1, KT makes a proportionate distribution of $16,000 cash and lan

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Answer:

No option is correct. The options include inventory, while the question does not mention any inventory distributed.

Tyson's basis on the land is $4,000.

Explanation:

Tyson's basis on the land = total distribution - cash distribution = $20,000 - $16,000 = $4,000

A partner only needs to recognize a gain on a distribution when the cash distribution is larger than the partner's basis. In this case, the partner's basis is more than the cash distribution. The partner's basis for the rest of the assets distributed will be equal to the difference between the partner's basis - cash received.

In this case, since the difference is $4,000, then the basis for the land will be reduced.

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4 years ago

National Park Tours Co. is a travel agency. The nine transactions recorded by National Park Tours during May 2019, its first mon

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Answer:

National Park Tours Co.

Journal Entries

Sr. No Account Debit Credit

1) Cash 75,000 Dr

Beth Worley Capital 75,000 Cr

Invested in capital.

2) Supplies Expense 900Dr

Cash 900 Cr

Bought Supplies

3) Equipment 8000 Dr

Cash 1600 Cr

Accounts Payable 6400 Cr

Bought Equipment.

4) Operating Expenses 6280Dr

Cash 6280 Cr

Spent on Operating Expenses

5) Accounts Receivable 12300Dr

Fees Earned 12300 Cr

Provided Services on Account.

6) Accounts Payable 2700Dr

Cash 2700 Cr

Paid cash for a liability raised previously.

7) Cash 8,150Dr

Accounts Receivable 8,150 Cr

Received Services fees.

8) Supplies Expenses 660Dr

Supplies 660 Cr

Supplies expenses charged.

9) Beth Worley, Drawing 2500Dr

Cash 2500 Cr

Withdrew for personal use.

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4 years ago

The advertising committee for a politician is going door to door and asking people to put a big, ugly election sign on their law

Dahasolnce [82]

Answer:

B. the door-in-the-face strategy

Explanation:

The door-in-the-face strategy is a largely used method in social psychology, marketing and sales. It starts with the seller/advertiser/persuader having a big request for the other person, knowing it will probably be turned down. Afterward, the seller/advertiser/persuader proposes a smaller request.

Many studies and researches have shown that people would more often say yes to the smaller request when it is made following the large request, rather than the small request being proposed alone.

In this example, the advertising committee is hoping that people would surely accept the smaller lawn sign after they initially propose the big sign, due to this strategy.

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4 years ago

The economic and logical position of a firm in an oligopoly industry can be well understood through ___________.

denis-greek [22]

Answer:

The economic and logical position of a firm in an oligopoly industry can be well understood through Concentration Ratios, which measure measure the proportion of total market share controlled by number of firms. When there is a high fixation proportion in an industry, financial specialists will in general recognize the business as an Oligopoly.

Explanation:

An oligopoly is a market structure in which a couple of firms overwhelm. At the point when a market is shared between a couple of firms, it is supposed to be exceptionally thought. Although a couple of firms overwhelm, it is conceivable that numerous little firms may likewise work on the lookout. Thinking about the market for air travel, significant air crafts like British Airways (BA) and Air France regularly work their courses with a couple of close contenders, yet there are additionally numerous little carriers providing food for the holidaymaker or offering expert administrations.

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3 years ago

The type of cover letter written to inquire about possible job openings: a. networking letter b. prospecting letter c. applicati

Kaylis [27]

The type of cover letter written to inquire about possible job openings is b. prospecting letter.

<h3>What is Prospecting letters ?</h3>

Prospecting letters serves as one that is been sent are to leads potential clients, or past clients so they can continuously grow a real estate business.

Therefore, prospecting letter is type of cover letter written to inquire about possible job openings.

Learn more about Prospecting letters at;

brainly.com/question/3602860

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3 years ago