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Marizza181 [45]
3 years ago
12

Which of the following transactions would be least likely to have an effect on the net income for 2020? A : Stock purchased in 2

003 and deemed worthless in 2020. B : Correction of an error in the financial statements of a prior period discovered subsequent to their issuance. C : Collection in 2020 of a dividend from an investment. D : Sale in 2020 of an office building contributed by a stockholder in 1971.
Business
1 answer:
Alex777 [14]3 years ago
8 0

Answer:

B : Correction of an error in the financial statements of a prior period discovered subsequent to their issuance

Explanation:

As the accounting uses the matching principles to assing revenues and expenses a prior perior expense will not affect the current period of 2020.

The accountning should represent the reality and the event that generate the income/expense was before 2020 Thus, it should not affect 2020

Else,  the information will be tained as 2020 period is taking expenes fro mother period making the current income understated.

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Assuming the required-reserve ratio is 20%, after a $5 billion purchase of securities (government bonds) from the non-bank publi
9966 [12]

Answer: $25 billion

Explanation:

The increase in cash as a result of a deposit into the banking system, no cash leakages and a required-reserve ratio is:

= Deposit into banking system * Money multiplier

Money multiplier = 1 / Required reserve ratio

= 1 / 20%

= 5

Checkable deposit increase:

= 5 billion * 5

= $25 billion

8 0
2 years ago
Data about the size and composition of a population are gathered in a survey called
Svet_ta [14]
Systematic acquisition and recording information concerning members of a given population is called census. This involves collecting and gathering data about the size and the composition of a population in a given country or nation. In the U.S for example census is undertaken after every ten years which involves tallying the population in the country and recording basic information such as age, sex and race. The census is used by the federal government among other reasons to establish the allocation of funding for education programs in the communities and states
3 0
3 years ago
Read 2 more answers
Visit the eBay website and identify three ways a small business can use the website to support its operations.
Alex787 [66]

Answer:

The eBay website provides a platform for the small business to grow and do business using their sites.

Explanation:

eBay is a multinational e-commerce company situated on California. The company sells goods and items that is registered on its site.

Recently eBay, the e-commerce giant has pledge a 100 million dollar to support and help the small business of America. For this eBay is :

  • eBay is providing the new businesses in America a free of cost basic eBay store for a period of three months.
  • It is waiving off the fees for selling products for up to 500 sold products on eBay websites.
  • It will provide marketing as well as the merchandising tools, the discounted shipping supplies and the customization features so that the businesses can help build their brands.
8 0
2 years ago
Your grandfather invested $1,000 in a stock 36 years ago. currently the value of his account is $318,000. what is his geometric
e-lub [12.9K]
It would be 8,833.33 over the years
4 0
3 years ago
Johnston Company has budgeted production of 11,600 units and sales of 14,400 units in February. Each unit requires 15 minutes of
kap26 [50]

Answer:

$43,500

Explanation:

Direct labor costs refer to the salaries that are paid to the employees that perform a job that is related to the production of a good. In this case, it would be the wages of the employees that work in the production of the units budgeted.

To calculate the total cost, first you have to calculate the amount of hours require to produce 11,600 units:

      1 unit        →  15 minutes

11,600 units    →          x

x=(11,600*15)/1= 174,000 minutes

1 hour →   60 minutes

    x    ←    174,000 minutes

x=(1*174,000)/60= 2,900 hours

Now, you can calculate  the total budgeted direct labor costs by multiplying the labor rate per hour for the number of hours needed to manufacture the units budgeted:

$15*2,900= $43,500

According to this, the answer is that the total budgeted direct labor costs for February is $43,500.

5 0
3 years ago
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