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2 years ago

Prepaid expenses require what type of adjusting entry?

Business

1 answer:

AleksAgata [21]2 years ago

7 0

Answer:

MATCHED

Explanation:

TOOK THE TEST

"Expenses should be matched with revenues. A deferred expense or prepayment, prepaid expense, is an asset representing cash paid out to a counterpart for goods or services to be received in a later accounting period."

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Which of the following is NOT a valid principle of bottleneck management?

Gekata [30.6K]

Answer: Option (B)

Explanation:

In project and production management, bottleneck is referred to as one of the process under chain of processes, so that reduced limited capacity tends to reduce capacity of whole chain. The result or outcome of having the bottleneck is the stalls in supply overstock, production, pressure from consumers and also the low employee morale.

8 0

2 years ago

On December 29, 2019, Patel Products, Inc., sells a delivery van that cost $20,000. After recording the entry to bring the accum

nekit [7.7K]

Answer:

The debit balance for the vehicles account was $20,000, and the credit balance of accumulated depreciation account was $18,000.

Dr Vehicles account 20,000
Cr Accumulated Depreciation Vehicles account 18,000

then the van was sold for $2,000

Dr Cash account 2,000
Cr vehicles account 2,000

Since the carrying value of the van was $2,000 (= $20,000 - $18,000) and the van was sold for $2,000, Patel had no gain or loss from this transaction.

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3 years ago

The Caraway Seed Company grows heirloom tomatoes and sells their seeds. The heirloom tomato plants are preferred by many growers

Thepotemich [5.8K]

Answer:

$168,000

$21,300

Explanation:

As per accounting equation

Assets = Liabilities + Equity

Equity = Assets - Liabilities

Placing values in the equation

Equity = ( Current assets + Net Fixed Assets ) - ( Current Liabilities + Long term debt )

Equity = ( $49,700 + 248,300 ) - ( 28,400 + 101,600)

Equity = $168,000

Net Working capital is the net of current assets and current liabilities of the company.

Use following formula of net working capital

Net working capital = Current assets - current liabilities

Net working capital = $49,700 - 28,400

Net working capital = $21,300

5 0

2 years ago

Suppose, you have $20,000 in your account. You receive a monthly

Setler [38]

Answer:

According to the data provided the opportunity costs is detailed below:

Initial Balance $20,000

Monthly interst $200

Investment $500

________________________

The Opportunity cost is $500

Explanation:

The opportunity cost is the price you pay for not choosing best second alternative when you make a decision. In this case the person has three options:

1. Spending the money

2. Save the money

3. Invest the money

Once the money is spent the opportunity costs is generated and it is measured by the interest rate lost for not keeping the money in the investment that will generate an interest rate of $500 monthly.

3 0

3 years ago

a. Suppose the marginal propensity to consume (MPC) for a nation is 0.67. What is the tax multiplier for this nation

algol [13]

Assuming the marginal propensity to consume (MPC) for a nation is 0.67. The tax multiplier for this nation is: 2.03.

<h3>Tax multiplier</h3>

Using this formula

Tax multiplier=-MPC/1-MPC

Where:

Marginal propensity to consume (MPC)=0.67

Let plug in the formula

Tax multiplier=0.67/1-0.67

Tax multiplier=0.67/0.33

Tax muitiplier=2.03

Inconclusion the tax multiplier for this nation is: 2.03.

Learn more about tax multiplier here:brainly.com/question/16965373

7 0

2 years ago