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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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Which of the following statements are reasons why operations management is important?
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Answer: D. All of these are reasons why operations management is important.

Explanation: Operation management is concern with converting materials and labor efficiently into goods and services for profit maximization. It is the administration of business principles in creating the highest level of efficiency within an organization.

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3 years ago
Life insurance companies tend to invest in long-term assets such as loans to manufacturing firms to build factories or to real e
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Answer:

The answers are:

  1. automobile insurers
  2. life insurance companies
  3. a life insurance policy
  4. longer
  5. longer-term

Explanation:

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4 0
3 years ago
From this partial advertisement: Used car $93.38 per month for 60 months Cash price $4,200 Down payment $50 a. Calculate the amo
ludmilkaskok [199]

Answer: The answer is as follows:

Explanation:

Given that,

Used car $93.38 per month for 60 months

Cash price = $4,200

Down payment = $50

(a) Amount Financed = Total Value (Cash Price) - Down Payment

                                   =  4200 - 50

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(b) Finance Charge = Total payments - Amount Financed

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                                = 5602.8 - 4150

                                = $1452.8

(c) Deferred payment price = Down Payment + Total payments

                                             = 50 + 5602.8

                                             = $5652.8

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