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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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Two products, QI and VH, emerge from a joint process. Product QI has been allocated $28,300 of the total joint costs of $49,000.

Mrac [35]

Answer:

Gain from selling at the split-off point = $12 * 2,300

Gain from selling at the split-off point = $27,600

Gain from Processing further = $14 * 2,300 - Processing cost ($10,300)

Gain from Processing further = $ 32,200 - $10,300

Gain from Processing further = $21,900

Overall profit

= $27,600 - $21,900

= $5,700 (Decrease in overall profit )

Hence, if product QI is processed further and sold, then overall profit will be decreased by $5,700

8 0

3 years ago

All of the following represent cash outflows to the firm excepta. Taxes.b. Interest payments.c. Dividends.d. Purchase of plant a

Sergio039 [100]

All of the following represent cash outflows except E; Depreciation.

Further Explanation:

Cash outflows to a firm/business is how much cash for the business is available after taxes and capital are paid for. Interest payments, dividends and the purchase of equipment for the plant is considered into the cash flows.

Depreciation will not be part of the cash flow. This is considered to be a non-cash expense to the business/firm. This is an ongoing charge to the fixed assets of the business. This actually reduces the cash flow by reducing the monies paid for income taxes.

Learn more about depreciation at brainly.com/question/9862781

#LearnwithBrainly

7 0

4 years ago

Accounts Payable

geniusboy [140]

Answer:

company's total liabilities is

accounts payable + accrued expenses + short-term notes payable = 15000

4 0

4 years ago

Catherine sat down with all of her income details from the past year to calculate the total income she had in that period. After

HACTEHA [7]

Answer:

The answer is: Net income.

Explanation:

Net income is a measure of the profitability of a company, or person. It is the income of an amount less the cost of goods sold, expenses, depreciation and amortization, interest and taxes for an accounting period.

For households and individuals, net income refers to gross income, less taxes and other deductions, for example, mandatory pension contributions. It is usually the basis for calculating how much income tax is owed.

The answer is: Net income.

6 0

4 years ago

Arm & Hammer launches a campaign to extend the life of its baking soda products through improved packaging and new uses in p

lbvjy [14]

Answer:

C) maturity

Explanation:

The four stages of the product life cycle are:

Introduction Stage
Growth Stage
Maturity Stage: at this stage the product is already well established and its sales growth rate slows down. The highest sales level are achieved at this stage. This is also the stage at which the product faces the most competition, so the companies must modify and improve their products.
Decline Stage

7 0

3 years ago