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Mekhanik [1.2K]
3 years ago
5

The Jack Frost Law Firm prepays for advertising in the local newspaper. On January​ 1, the law firm paid $ 11 comma 000 for ten

months of advertising. How much advertising expense should Jack Frost Law Firm record for the two months ending February 28 under the
a. cash​ basis
b. accrual basis
Business
1 answer:
Svet_ta [14]3 years ago
8 0

Answer:

a. $11,000

b. $2,200

Explanation:

According to the cash basis accounting, the cash is recorded when actual cash is received

But as per the accrual basis of accounting, the revenue is recorded when it is realized or earned whether cash is received or not                      

So,

a. Cash basis = $11,000

b. Accrual basis

= $11,000 ÷ 10 months × 2 months

= $2,200

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Andrew’s coworkers often come to him for information about how their company handled disgruntled customers in the past since he
My name is Ann [436]

Answer:

option d is right

Explanation:

given that Andrew’s coworkers often come to him for information about how their company handled disgruntled customers in the past since he has worked at the company for 25 years.

He heard lots of information about the way things have been handled in the past, which helped him understand the organizational system.

Andrew’s information is an example of __Cultural____ knowledge.

This is because he knows some cultural characteristics, belief, history, and also behaviours due to his vast experience of 25 years and he shares with others.\

It is not explicit because not written and source is not mentioned

It is not descriptive, because data is not supported for his verdict.

It is not vigilant, because vigilant information is parted only to prevent frauds, or any illegal or unwarranted activity or behaviour.

Hence option d is right

3 0
4 years ago
Attributes of a company's competitive advantage, including land, capital, technological knowhow, and physical infrastructure, ar
lions [1.4K]

Answer: Factor endowments

Explanation:

Factor endowment is amount of land, capital, labor, and entrepreneurship that is possessed by a country and which the country can use for production purpose.

Therefore, Attributes of a company's competitive advantage, including land, capital, technological knowhow, and physical infrastructure, are factor endowments.

8 0
3 years ago
Suppose that the adult population in some country is 225 million. If 40 million are unemployed and 100 million are employed, the
Yakvenalex [24]

Answer:

28.57%

Explanation:

The computation of the unemployment rate is shown below:

Unemployment rate = (Number of Unemployed workers) ÷ (Total labor force) × 100

where,  

Total labor force would be = Unemployed + employed

= 40 million + 100 million

= 140 million

So, the unemployment rate would be

= 40 million ÷ 140 million

= 28.57%

It should always be expresses in a percentage form.

3 0
4 years ago
Inventory should be reported as follows except a.according to the chosen cost flow assumption. b.at lower of cost or market. c.a
Gnom [1K]

Answer:

c.as a long-term asset on the balance sheet.

Explanation:

The inventory has come under the current asset as it is converted into cash within one year. Like other current assets i.e account receivable, prepaid insurance, etc contains high liquidity and they get converted into cash in less than one year

It also recorded at cost or market value whichever is lower plus it also chosen as cost flow consumption but it is not reported as a long term asset as it is classified as a current asset, not the long term asset

5 0
3 years ago
Pat earns $25,000 per year (after taxes), and Pat's spouse, Chris, earns $35,000 (after taxes). They have two pre-school childre
Talja [164]

Answer:

C. Value spending time with the children by more than $13,000.

Explanation:

Given that Pat earns $25,000 per year after taxes and the childcare costs $12,000 per year, the value of spending time with with the children will be more than $13,000. If Chris becomes a stay at home parent, the value would have been $23,000 as $12,000 will be paid for the childcare. The amount is calculated by finding the difference between the earnings and childcare costs.

5 0
4 years ago
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