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dsp73
3 years ago
8

ABC Tax Planning Service started business in January 2018. The company rented an office for 7,000 per month starting from Januar

y​ 1, 2018. On that​ day, ABC prepaid the rent through June 30. The company makes adjusting entries at the end of each month. What is the balance in the Prepaid Rent account as of April​ 30, 2018?
A.$ $3,500
B.$7,000
C.$14,000
D.$ 1,167
Business
1 answer:
Jet001 [13]3 years ago
3 0

Answer:

The answer is: C) $14,000

Explanation:

ABC Tax Planning Services paid six months of rent in advance, from January to July. It spends $7,000 per month on rent, so the six months prepaid rent would be $42,000. On April 30, 2018, ABC had already rented the offices for 4 months, so it had only two months left in its Prepaid Rent account, equivalent to $14,000 (2 x $7,000).

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The Henry Ford Health System (a health care provider) has set strict limits for pharmaceutical representatives, and will no long
jeka57 [31]

Answer:

The correct answer to this question is A) it reduces the chances that Henry food health system might make any unethical purchasing decisions.

Explanation:

Ethics can be defined as the morals or principles that a person o group of person or a company believes in. Henry food health system doesn't want its doctors to accept gifts, free lunches or any kind of such perks from the pharmaceutical representative because Henry food health system thinks by providing such gifts and perks, these representatives might influence their doctors decision regarding the purchase and it might lead to doctors making an unethical decision.

4 0
3 years ago
On January 1, 2018, Como Company purchased 45% of the outstanding common shares of the Lite Company for $200,000. The net assets
NeX [460]

Answer: a. $28,000 $210,000

Explanation:

First column is income and second is Carrying value.

Carrying value is the fair value at year end = $210,000

Income = Dividend received + fair value adjustment

Fair value adjustment = Fair value - cost of shares

= 210,000 - 200,000

= $10,000

Dividend = 45% * 40,000

= $18,000

Income = 18,000 + 10,000

= $28,000

3 0
3 years ago
Important changes are occurring on your team as task agendas become clarified and members begin to understand one another's pers
love history [14]

Answer:

storming stage

Explanation:

Based on the scenario being described within the question it can be said that your team seems to be in the storming stage of team development. This stage is regarded as one of the most difficult and important stages for a team to pass through and where success creates long-term beneficial gains for the team but failures create long-lasting and usually fatal problems for the team.

8 0
3 years ago
Read 2 more answers
Pottery Ranch Inc. has been manufacturing its own finials for its curtain rods. The company is currently operating at 100% of ca
mylen [45]

Answer:

The Preparation an incremental analysis is below:-

No, Pottery ranch should not buy because incremental cost of $58,094

Explanation:

The Preparation an incremental analysis is below:-

                                    Make          Buy          Net income Income

                                                                                /Decrease

Direct material           $101,920                               $101,920

                              ($3.92 × 26,000)  

Direct Labor                $120,640                              $120,640

                             ($4.64 × 26,000)

Variable manufacturing  $65,146                              $65,146

                            ($120,640 × 0.54)

Fixed manufacturing $46,700         $46,700

Purchase price                                  $345,800       ($345,800)

                                                ($13.30 × 26,000)

Total cost               $334,406           $392,500       ($58,094)

No, Pottery ranch should not buy because incremental cost of $58,094

8 0
3 years ago
The smoothing constant chosen in simple exponential smoothing determines the weight to be placed on different terms of time-seri
jonny [76]

Answer:

The smoothing factor is close to 1, the values of the time series are more heavily weighted that the values in the distant past. When the value of the smoothing factor is close to zero, the values of the time series are more evenly weighted with the values in the recent past values.  

Calculate the weight applied to the observations four periods ago as shown below:

F₁ +1 = (1- a)F₁ + a(A₁) = (1 -0.3)F₁ + 0.3(4) = (0 .7) F₁+ (0.3) (A₁)  

F₄ = (0.7) F₁ + (0.3) A₁

Here, F₁ = Forecasted demand of t period A₁ = Actual demand

Explanation:

4 0
3 years ago
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