Answer:
the amount deferred by tower as intra-entity gross profit: 3,240
Explanation:
120,000 sales with a cost of 66,000
remains at year-end:
24,000 with a cost of: 66,000/120,000 x 24,000 = 13,200
gross profit: 24,000 - 13,200 = 10,800
For this rgoss profit we are going to deferre the 30%;
10,800 x 30% = 3,240
Answer:
b. increase expenses by $12,900
Explanation:
The final balance of Store Supplies were 19,350, but the actual year-end store supplies inventory were 6,450. That means that from all purchase 12,900 (19,350 – 6450) were used during the accountable year, therefore, those were expenses that should be recognized.
The adjusting entry is: Debit supplies expense for 12,900 and credit supplies for an equal amount.
<span>The correct answer is once a month. You should typically monitor your checking account one a month by balancing it. You can balance your account by adding all of your deposits to the beginning balance and subtracting all the subtotal's checks made.</span>
Answer:
Within walking distance from your home, there are a plethora of fast-food restaurants including Koala Express, Cabo Bob's Burritos, Oodles of Noodles, and Hanz's Hearty Hamburgers.
Explanation:
Monopolistic competition refers to a market where there are a large of suppliers that offer differentiated products to a large number of consumers. The restaurant industry are the most common example of monopolistic competition.
The other options are wrong:
Sprint, AT&T, Verizon, and T-Mobile own a large portion of the U.S. cellular market share. OLIGOPOLISTIC MARKET (FEW SUPPLIERS AND MANY CONSUMERS)
Farmers grow navel oranges throughout the United States. PERFECT COMPETITION (MANY SUPPLIERS AND MANY CONSUMERS THAT SUPPLY SIMILAR PRODUCTS)
The local gas company owns all of the gas lines that supply natural gas and heating to the residents in the town of Madison, Wisconsin. MONOPOLY, ONLY ONE SUPPLIER AND MANY CONSUMERS
