Answer:
The short run refers to a period of less than one year.
Explanation:
The statements is false that the short run refers to a period of less than one year.
The short run, long run and very long run are different time periods in economics.
<u>Short run – where one factor of production (e.g. capital) is fixed</u>.
long run – Where all factors of production are variable,
Unlike in accounting where operating period refer to a period of one year, <u> there is no hard and fast definition as to what is classified as "long" or "short" and mostly relies on the economic perspective being taken.</u>
Answer:
Technician A says a fleet shop is usually connected with either a business that runs multiple vehicles or with equipment that is maintained and repaired in house.
Answer:
Explanation:
journal entries in the books of AXE
jan 6 purchased goods from Green worth $1200 term 2/10 , n/30
Inventory a/c $1200
Accounts Payable - green $1200
jan 6 purchased goods from munoz worth $900
inventory a/c$900
Accounts Payable - munoz $900
jan 14 Payment being made to green. Since payment is made within 8 days so discount will be recieved by Axe( note term 2/10 means if payment is made within 10 days axe will recieve discount @2%)
Accounts payable - green $1200
Cash $1,176
discount recieved $ 24
( being discount recieved [email protected]% = $24)
Feb 2 payment made to munoz , since it is paid after 10 days no discount will be recieved
Accounts payable- munoz $900
Cash $900
feb 28 purchased goods worth $350 from reynold
Inventory $350
Accounts payable - reynold $350
Answer:
PART-1)
Fair value of leased asset to lessor = 25,000
Minus: PV of un-guaranteed residual value $8,250 X 0.82270 = 6,787
Amount to be recovered through lease payments = 18,213
Four periodic lease payments ($18,213 /3.72325) = 4,892
PART-2)
<u>01/01/2017
</u>
Debit: Cash = 4,892
Credit: Unearned Lease Revenue = 4,892
<u>12/31/2017</u>
Debit: Unearned Lease Revenue = 4,892
Credit: Lease Revenue = 4,892
<u>12/31/2017</u>
Debit: Depreciation Expense = 3,333
Credit: Accumulated Depreciation – Equipment = 3,333
The answer to this statement is false, it is because blog is
not only an effective tool in business but they also use this because they
reach a vast audience in which is not considered to be just limited. Blogs are
used by business now a days because they are able to maintain their
relationship in public or customers in which will keep them updated.
