Answer:
1. The Orange Lily Law Firm
Accrual Basis and Cash Basis:
For the two months, Orange Lily Law Firm would have entered $3,480 instead of recording only $1,160 ($3,480/6) x 2 in the Advertising Expense Account.
2. Safe Home
Accrual Basis and Cash Basis:
If Safe Home had used the Accrual Basis, it would recorded $6,540 ($3,710 + 2,830) as Service Revenue for the year, instead of recording only $3,710.
Explanation:
There are two methods of recording business transactions in accounting. There is the cash basis. This involves making records only in the period that cash flow (either inflow or outflow) takes place.
The accrual basis records business transactions as they occur in a period whether cash was received or paid or not. The concentration of the accrual basis is to match the economic event to the period and not when actual cash event takes place..
In the PMBOK, the logical groupings of the five project management processes to achieve specific project objectives are called the: project management process groups.
<h3>What are the Project Management Process Groups?</h3>
The project management process groups consist of five groupings known as initiating, planning, executing, monitoring, and closing.
The initiating stage is the stage where the basics of the project are thought out. The planning stage entails structuring the project.
After this, the plan is executed, monitored for progress, and finally closed.
Learn more about the Project Management Process Groups here:
brainly.com/question/8603302
Answer:
Instructions are listed below
Explanation:
Giving the following information:
Marvel Company uses a predetermined overhead rate in applying overhead to production orders on a labor-cost basis in Department A and on a machine-hours basis in Department B.
Dept. A
Factory overhead $ 71,250
Direct labor-hours 8,100
Dept. B
Factory overhead $46,055
Machine-hours 15,100
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base=
Dept A:
Estimated manufacturing overhead rate= 71250/8100= $8.80 per direct labor hour
Dept B:
Estimated manufacturing overhead rate= 46055/15100= $3.05 per direct machine hour
A time horizon<span> is the length of </span>time<span> over which an investment is made or held before it is ended. </span>Time horizons<span> can range from seconds, in the case of a day trader, all the way up to decades for a buy-and-hold investor or an individual who is investing in a retirement plan.</span>
Answer:
Explanation:
ABC Company has a debt-equity ratio of 50 percent, a total asset turnover of 1.25, and a profit margin of 5.4 percent. What is ... Last year, ABC Inc. had sales of $375,000 and a net income of $25,000, and it had total assets of $350,000 at the year end
