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sammy [17]
3 years ago
7

For each separate case below, follow the three-step process for adjusting the accumulated depreciation account at December 31. S

tep 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year.

Business
1 answer:
alexandr1967 [171]3 years ago
7 0

   

[c]   Accumulated Depreciation Equipment

Step 1 $0   $0

Step 2 $6,400 Credit [($56000 - 11200) / 7 years]  $6,400

$6,400

Step 3 Accounts title Debit Credit  

Depreciation expense $6,400  

  Accumulated Depreciation - Equipment  $6,400

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Beverage International reports net credit sales for the year of $468,000. The company's accounts receivable balance at the begin
solmaris [256]

Answer:

The Beverage International's receivables turnover ratio is =  16,14  

Explanation:

The accounting receivable turnover formula is :

Net credit sales / Average Accounts Receivable

So  Net credit sales = $468,000

And Average Accounts Receivable = ($24,000 + $34,000)/2 =  $29.000,00  

The receivables turnover ratio is =  $468,000 / $29.000,00  =  16,14  

3 0
4 years ago
A customer bought a $1,000 par convertible subordinated debenture at par, convertible into common at $32 per share. If the bond'
Pachacha [2.7K]

Answer:

correct option is b. $36

Explanation:

given data

bought = $1,000 par convertible

convertible into common = $32 per share

bond market price increases = 12.5%

solution

we know that conversion ratio is fixed when the convertible security are issued and it does not change

we have bond is issued with a conversion price = $32

so as per each bond converting conversion ratio will be

conversion ratio =  \frac{1000}{32} = 31.25 : 1

so by every bond which is converted , then receives  = 31.25 share

so now bond price will be = $1125

parity price of the stock will as = \frac{1125}{31.25}

parity price of the stock  = $36

correct option is b. $36

5 0
3 years ago
The standardization strategy uses __ marketing activities across national boundaries whereas the adaptation strategy uses a ____
nadezda [96]

Answer:

The correct answer is letter "C": similar; differentiated strategy.

Explanation:

The advertisement of a product can be shaped according to the region where the good or service will be offered whereas, in some other cases, changes in marketing can be minimal or null. In such scenarios, the standardization approach uses the same marketing method for every country where the company has a presence. This will only work if consumers worldwide have similar needs and preferences.

The differentiated strategy, instead, links customers' expectations, patterns, and cultures with the marketing processes of the firm. This approach aims to give a tailored good or service to different consumers and is mostly used.

8 0
3 years ago
A city assesses property owners $50 million to extend sewer lines to their neighborhood. By year-end, however, it has not begun
serg [7]

Answer:

Recognize the assessments as assessments receivable and revenue.

Explanation:

Practically, this will result in a receivable in the reserve fund, if the amounts are not received when due.

This could be seen when an/a corporation may decide on the amount of an assessment years before the cash is been used.

But cannot really obtain the revenue at the time of the decision, since the corporation can change its decision up until the day the amount is due. Also there are no specific parties being assessed, until the owner on record is known on the day the assessment is due, also the assessment should be recognized as revenue of the reserve fund when due.

4 0
3 years ago
What is one downside of banking at a traditional branch versus on-line-only banking​
tresset_1 [31]

<u>Answer:</u>

Some online banks have unwieldy procedures to store money. Alternatives can incorporate a deposit-accepting ATM or placing money into a current financial balance and moving that cash to your online record. You could likewise change over the money into a cash request, which you might store electronically utilizing your online bank's portable application.

Security dangers stay a risk and burden of traditional bank areas. Cybercrimes are, obviously, a problematic issue that can influence web-based banking. That being stated, the broad security conventions presently ensuring internet banking frameworks have drastically decreased this risk.

6 0
3 years ago
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