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3 years ago

"which expenses would most likely be classified as prepaid expenses (asset) rather than accrued expenses (liability)?"

2 answers:

8 0

Expenses likely to be classified as prepaid expense (asset) are Prepaid Rent & Insurance Premiums. Enter a prepaid rent payment on the balance sheet as an asset until the month when the company is actually using the facility to which the rent relates, and then charge it to expense. Any insurance premium costs that have not expired as of the balance sheet date should be reported as a current asset such as Prepaid Insurance.

victus00 [196]3 years ago

4 0

Prepaid expenses are those expenses that are paid for in one accounting period. The first and the foremost example of prepaid expenses (assets) is insurance. Insurance is paid before hand, in advance on many occasions for example, health insurance. Apart from this another example can be rent, you have to pay the rent one month in advance and then live in place. On the other hand accrual expenses are liabilities. Hence these two are the best examples of prepaid expenses.

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Billy Bob's Barber Shop knows that a 5 percent increase in the price of their haircuts results in a 15 percent decrease in the n

Gala2k [10]

Answer:

Option (B) is correct.

Explanation:

Given that,

Percentage increase in price = 5%

Percentage decrease in quantity demanded = 15%

Therefore,

$Elasticity\ of\ demand=\frac{percentage\ change\ in\ quantity\ demanded}{percentage\ change\ in\ price}$

$Elasticity\ of\ demand=\frac{15}{5}$

= 3.0

Hence, elasticity of demand facing Billy Bob's Barber Shop is 3.0

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2 years ago

credit cards should be used for what A. anything you want B. things you cant afford C. budgeting expenses you need to pay over t

zloy xaker [14]

Im pretty sure its C

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3 years ago

A company that produces pleasure boats has decided to expand one of its lines. Current facilities are insufficient to handle the

Irina-Kira [14]

Answer:

A. Lowest Total Cost:

A. 315,550 or more

B. Lowest total cost of annual volume of 120 boats

C. C

Explanation:

The lowest total cost among the three alternatives is b.

If the company goes for new location it will have to incur fixed cost of $270,000 and variable cost per boat will be $600.

If the company Subcontracts then Total cost per boat is $2,620

If a company goes for expanding existing facility then it will incur fixed cost of $57,000 and variable cost will be $1,030 per boat.

If company produces 315,000 or more boats then it will have lowest possible cost for the boat.

For an output of 120 bots the best possible alternative is option C. The fixed cost will be $475 per boat ($57,000 / 120 boats)

The total cost will be $1,505 ($475 + $1,030)

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3 years ago

when sending a claim to the insurance company for services provided by the physician why are both ICD-10 and CPT codes required

SSSSS [86.1K]

When a patient receives services from a licensed doctors, these services are recorded and assigned codes by the medical coder. ICD codes are used for diagnoses, while CPT codes are used for various treatments. The summary of these services, through these code sets, make up the bill. Medical Claim Billings are rejected when Diagnostic code (ICD-10 code) and procedure code (CPT code) are missing, not complete, or do not match to the treatment given by the physician.

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3 years ago

a seller transfers title to a buyer with a general warranty deed. in which clause of the deed does the seller define the quality

Elis [28]

A seller transfers title to a buyer with a general warranty deed. The seller defines the quality of ownership interest conveyed to the buyer in the habendum.

Habendum is an important concept in real estate and property transactions. It may also be used in other transactions related to leases and deeds, for example in the energy sector.

A habendum clause is part of a contract that is concerned with the rights, interests, and other features of ownership that is transferred to the other party. In cases of transfer of rights, for example in relation to a coal mine, it sets out the nature of the right and its duration.

To learn more about property transactions: brainly.com/question/28171058

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1 year ago