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3 years ago

The matching principle

1 answer:

6 0

Answer: The matching principle <u>"d. states that the revenues and related expenses should be reported in the same period".</u>

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Explanation: The application of this principle is a consequence of double entry; In the specific case of the Correspondence Principle we refer to the relationship that exists between an income and expense at the time of registering a transaction. It can be summarized in the following statement:

For every income there is an expense and for every expense there is an income.

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Homestead Jeans Co. has an annual plant capacity of 65,000 units, and current production is 45,000 units. Monthly fixed costs ar

ioda

Answer:

18000*2

Explanation:

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3 years ago

Taking a physical count of inventory

Inessa05 [86]

Answer:

Taking a physical count of inventory :

d.should be done near year-end.

Explanation:

Taking physical inventory is necessary for any business because it allows taking pertinent actions to start the next year, also for tracking the inventory as every item should be counted. It helps to know what happens with every article, for example, if there are any losses (damaged goods, stolen or miscounted).

It is helpful to detect items that are about to expire or become obsolete so the company can sell them, and don’t lose money, by using a marketing strategy and then renew/supply the store.

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4 years ago

Suppose, you have just joined a company named "Sky Holiday" and you are listening to your CEO who is speaking before all the new

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Answer:

I will follow all the code of conduct and discipline laid down by the CEO

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2 years ago

Practice

Anettt [7]

If the special order for 3,000 boxes of crystal glassware is accepted, the effect on the net income of Harvest, Inc. is an increase of <u>$12,000</u>.

<h3>What is break-even analysis?</h3>

Break-even analysis is an accounting technique to ensure that a company does not incur losses from its transactions.

Using the technique, a corporation ensures that the total costs are at least equal to the total revenue or the contribution margin is sufficient to cover the fixed costs, which are not variable within a relevant range.

The technique is based on the concepts of contribution margin and variable costing.

<h3>Data and Calculations:</h3>

Special order units = 3,000 boxes

Price per box for special order = $30

Variable costs per box = $24

Special shipping costs per box for the special order = $2

Contribution margin per box = $4 ($30 - $24 - $2)

Total Contribution Margin = $12,000 ($4 x 3,000)

Fixed costs = $30,000 ($10 x 3,000)

Normall selling price per box = $70

Thus, if the special order for 3,000 boxes of crystal glassware is accepted, the effect on the net income of Harvest, Inc. is an increase of <u>$12,000</u>.

Learn more about accepting special orders at brainly.com/question/25307534

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2 years ago

what is the total amount of final goods and service produced in a country that people, businesses, governments, and foreigners p

Bas_tet [7]

The total amount of final goods and service produced in a country that people, businesses, governments, and foreigners plan to buy is Gross domestic product (GDP).

<h3>What is Gross domestic product (GDP)?</h3>

GDP is a metric for a country's economic output. GDP is a measure of the overall economic output of new products and services in a particular year.
The circular flow diagram can be used to illustrate GDP as a flow of income moving in one direction and expenditures on resources, products, and services moving in the opposite way.
According to this model, households purchase goods and services from businesses, and vice versa.
The circular flow figure shows how the national income calculation methods of using income and expenditures are equivalent.
Money (revenue from the sale of the commodities, services, and resources) travels counterclockwise in this picture while goods, services, and resources go clockwise.

Learn more about the Gross domestic product (GDP) with the help of the given link:

brainly.com/question/15682765

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1 year ago