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dezoksy [38]
3 years ago
5

Purchasing office supplies on account will: Multiple Choice Not change assets. Increase assets and decrease liabilities. Increas

e assets and increase liabilities. Increase assets and increase stockholders' equity.
Business
1 answer:
Kobotan [32]3 years ago
3 0

The correct option is C - Increase assets and increase liabilities

<u>Explanation:</u>

When anorganization purchases office supplies on account then it becomes essential to record such supplies as supplies on hand. Generally, in a business organization, the supllies on hand are used up within the span period of one year which means that they are to be recorded as current asset in the financial statement ( balance sheet). As no cash has been paid to merchandise, so it increases the liabilities also.

Therefore, it will increase the current assets and current liabilities.

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An NOL has the potential to lower income and reduce taxes for the taxpayer
iren2701 [21]

Answer:

The correct response is "for the carryover or carryforward year".

Explanation:

  • NOL usually happens that whenever a taxpayer's corporate taxable income exceeds his corporation yearly revenue. The whole NOL could be utilized to back split from several other taxable incomes, which have become perhaps throughout the future, in other words, managed to carry forward.
  • Throughout the current environment, and there'll be revenue, NOL would be adapted and the tax burden would be whittled down either by NOL proportion.
3 0
2 years ago
Julius asks Rachel if she would like to sell her boat. Rachel privately has no interest in selling her boat, and believes that J
Fed [463]

Answer:

C) formed a valid contract because Rachel's outward expressions showed the formation of a contract.

Explanation:

A valid contract is a binding and enforceable agreement, where all parties are legally bound to perform the contract.

Probably the most important part of a contract is the existence of an offer and acceptance. Once a valid offer is accepted, it binds the parties into a valid contract.

In this case, Rachel accepted Julius´s offer to buy her boat, so an offer and acceptance exists.

6 0
3 years ago
Mr. Brown is in the 10 percent federal income tax bracket and wants to invest $10,000 in interest-earning assets. Mr. Black is i
snow_lady [41]

Based on the information given, the corporate bond will be recommended for Mr. Brown while the municipal bond will be recommended for Mr Black.

<u>Mr Brown:</u>

The after-yield tax on corporate bonds will be:

= Before tax yield × (1 - tax rate)

= 4% × (1 - 0.10)

= 3.60%

After tax yield on municipal bond will be:

= 3.5% × 1 = 3.5%

The corporate bond is recommended.

For <u>Mr. Black</u>

The after-yield tax on corporate bonds will be:

= 4% × (1 - 0.35)

= 2.60%

The after-yield tax on municipal bonds will be:

= 3.5% × 1

= 3.5%

Therefore, the municipal bond is recommended.

Red related link on:

brainly.com/question/25379770

5 0
2 years ago
Economic integration is an indispensable tool of economic development. Explain five (5) rationale for Nigeria's affinity with th
Sliva [168]

Answer: nice guy

Explanation:hi Mann watsupp

3 0
3 years ago
5. Explain one reason homeowners might lose their home?
Paladinen [302]

Answer:

if they have not paid their bills on the home and "refuse to" they can lose the house or if they are "horders" and don't follow the rules set by law enforcement and clean their house in the designated time, the house will be taken away from the homeowners and be torn down

6 0
3 years ago
Read 2 more answers
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