Significant noncash investing and financing activities are disclosed because they

The free-rider problem; A. Arise from the ability to exclude an individual from the benefits of someone else's purchase B. Is a

ololo11 [35]

Answer: C. Reflects the inability to exclude an Individual from the benefits of someone else's purchase.

Explanation:

The Free-rider problem is a concept in economics that describes the fact that sometimes people benefit from goods and services that they wither did not pay for or underpaid for.

There has been a failure to exclude those individuals who are free-riding from the benefits of goods and services that other people are paying for. A simple example of the free-rider phenomenon is using Wikipedia. Most of those who use it do not contribute or pay for its upkeep in any way yet reap the benefits of its extensive information.

8 0

3 years ago

Adam kisses the sleeve of Eve’s blouse, an act to which she did not consent. Has Adam committed a tort and if so, which one? Exp

FromTheMoon [43]

Answer:

Yes, Adam committed a tort.

Explanation:

In the situation, when Adam kisses the sleeve of Eve's blouse but without her consent, he committed a tort. A tort can be defined as a civil wrong which harm other. Here, Adam's act of kissing the sleeve was an invasion of Eve's privacy. It also caused her emotional distress. Therefore Adam has a legal liability in this case as it is tort.

8 0

2 years ago

On july 1, rainbow painting service borrows money from eighth national bank on a 8-month, $40,000, 5% note. interest and princip

Kobotan [32]

Given:
July 1 borrowed money from eight national bank on 8-month, 40,000, 5% note.
Interest and principal is all due on February 28
No journal entries were made.

Recognizing cash and notes payable.
Debit Credit
Cash 40,000
Notes Payable 40,000

Interest on Notes payable
Interest Expense 1,333
Interest Payable 1,333

Recognizing interest owed but not yet paid.

40,000 * 5% * 8/12 = 1,333

On February:
Notes Payable 40,000
Interest Payable 1,333
Cash 41,333

4 0

2 years ago

If a gain of $5,278 is realized in selling (for cash) office equipment having a book value of $50,852, find the total amount rep

Alina [70]

Answer:

B) $56,130

Explanation:

The cash flow statement shows how the company's operating, investing and financing activities affect the flow of cash by generation or use.

The investing activities section is where the purchase of fixed assets and the amount received for the disposal of these assets are accounted for.

Given that a gain was realized and the book value of the asset was given, the amount received for the disposal

= $5,278 + $50,852

= $56,130

This is the amount that will be reported in the investing activities section of the statement of cash flows as an inflow.

6 0

3 years ago

Feb. 2 Wrote a $350 check to establish a petty cash fund. 5 Purchased paper for the copier for $14.55 that is immediately used.

Nataly [62]

Answer:(1) Dr: petty cash $350, Cr: Cash $350, (2) Total delivery expense $16, Total Milleage expense $71, Total postage expense $65.55, Total merchandise inventory( Transportation -in) $42.4, Total office supplies $81.32, Petty Cash Balance $204.67 (3) a) Dr : Expenses $326.29, Cr : Cash $326.39 (b) Dr: petty cash $490, Cr: Cash $490

Explanation:

Journal entry to establish the petty cash fund

Dr : petty cash $350

Cr: : Cash $350

Journal entry to record the reimbursement

Dr : Expenses $326.39

Cr: Cash $326.39

Journal entry to record the increase in fund amount

Dr:petty cash $490

Cr: cash $490

Total delivery expenses $16

Total mileage expenses $71

Total postage expenses $65.55

Total merchandise inventory (Transportation -in) $42.4

Total office supplies $81.32

Amount received for reimbursement $326.39

Petty Cash Balance $204.67

7 0

3 years ago