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Virty [35]
4 years ago
5

Jim operates his business on the accrual method and this year he received $4,000 for services that he intends to provide to his

clients next year. Under what circumstances can Jim defer the recognition of the $4,000 of income until next year?
Business
1 answer:
Ainat [17]4 years ago
7 0

Answer:

He can choose to defer the recognition of the income until next year, only if the income is not recognized for financial accounting purposes.

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Suppose that you only have liability and comprehensive car insurance and you allow your roommate (who doesn't have car insurance
Alisiya [41]
What will happen is that YOUR INSURANCE COMPANY WILL NOT PAY FOR THE DAMAGES.
Liability car insurance covers damages and injuries to third party's car only, it does not cover damages to the insurance owner's car. Comprehensive car insurance only cover damages done to one's car as a result of theft, fire, natural disaster, vandalism and other such acts, but does not cover damages that occur as a result of collision.
7 0
4 years ago
Read 2 more answers
If prices have increased according to the Consumer Price Index (CPI), what has occurred in the economy?
ololo11 [35]

Answer:

The correct answer is that it has occurred that the economy has suffered from inflation.

Explanation:

To begin with, the concept of inflation is known in the economic sciences for refering to the situation where the prices of every good and service in general in the economy have risen up and it is due to the fact that now the acquisition power of the currency has lost value and therefore that every good is now more expensive than before stating that the purchasing power per unit of the money has suffered a reduction. Moreover, a very common intrument to actually measure the inflation is the very well known Consumer Price Index whose major purpose is to accomplish that task.

8 0
3 years ago
Granting a foreign company the right to manufacture your product your product or to use your firm's trademark in return for a fe
Sveta_85 [38]
The correct answer is : licensing

During licensing process, a licensor company granted another company to use their brand of productsBut the licensor company does not take part in the operational process. They licencor only receive some payment in exchange of using their brand
6 0
3 years ago
Jackson, a self-employed taxpayer, uses his automobile 88% for business and during 2020 drove a total of 24,800 business miles.
IRINA_888 [86]

Answer:

300+3000+360+450+480+330+600+6600 =12120

12120 x 6000 ÷ 100 = 727 200

Explanation:

Add all expenses but leave out the 6,000 because it's Depreciation.

5 0
3 years ago
In 2017, Walker Company issued common stock for $200,000 cash. The company also paid cash dividends of $30,000, and issued a two
Alexxx [7]

Answer:

The statement of cash flows should report net cash provided by financing activities of $265,000.

Explanation:

Cash Flow from Financing activites:

Common stock issued =     $200,000

Dividend Payment =           ($30,000)

Issuance of note payable = $45,000

Issuance of Bond =             <u> $50,000 </u>

Net cash flow =                     <u>265,000</u>

The statement of cash flows should report net cash provided by financing activities of $265,000.

8 0
3 years ago
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