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3 years ago

During a rainstorm, water seeps into the ground. This process is called _____.

1 answer:

6 0

During a rainstorm, water seeps into the ground. This process is called infiltration! There are 6 processes and they are condensation, infiltration, runoff, evaporation, precipitation, and transpiration.

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A company completes construction of a $400 million offshore oil platform and places it into service on January 1. State law requ

Sauron [17]

Answer:

b. Liability, $9,000,000; expense, $0.

Explanation:

An asset retirement obligation (ARO) refers to an obligation with respect to the acquisition , construction, development, etc. The liability should be recognized the liability at the present value that should be expected to be paid for settling the obligations

Here the $9,000,000 million represents the liability

Also the journal entry is

Asset Dr

To liability

(Being the asset placed is recorded)

There is no expense should be recorded in the income statement

3 0

3 years ago

Glenda works for a telecommunications company and oversees the planning, execution, and closing of any large telecom projects fo

yarga [219]

Answer:

Project manager

Explanation:

Glenda must be working as a project manager.

A project manager is a person that leads the team to design and execute projects within an establishment. He/she also ensures monitoring and control of resources in order to get maximum results.

Hence, Glenda must have been employed as a project manager for the telecommunication company.

4 0

2 years ago

Recording sales, returns, and discounts taken LO P2 Prepare journal entries to record each of the following sales transactions o

OLEGan [10]

Answer:

Apr. 1

Trade Receivable $6,600 (debit)

Sales Revenue $6,600 (credit)

Cost of Sales $3,960 (debit)

Merchandise $3,960 (credit)

Apr. 4

Sales Revenue $740 (debit)

Trade Receivable $740 (credit)

Merchandise $444 (debit)

Cost of Sales $444 (credit)

Apr. 8

Trade Receivable $2,800 (debit)

Sales Revenue $2,800 (credit)

Cost of Sales $1,960 (debit)

Merchandise $1,960 (credit)

Apr. 11

Cash $5,860 (debit)

Trade Receivable (credit)

Explanation:

Perpetual method of inventory keeps a record of cost of inventory after every sale.

Thus, for every sale transaction remember to recognize the Sales Revenue and the Cost of Sales that follow the sale.

For any returns, De-recognize the Sales Revenue - to the extend of the credit granted and also de-recognize the Cost of Sales to the extend of the value of Inventory returned.

4 0

3 years ago

Crane Company has a unit selling price of $500, variable costs per unit of $260, and fixed costs of $184,800. Compute the break-

Ostrovityanka [42]

Answer:

Break-even point in units= 770

Explanation:

Giving the following information:

Selling price= $500

Unitary variable cost= $260

Fixed costs= $184,800

To calculate the break-even point in units using the mathematical equation, we need to use the following formula:

Net income= unit contribution margin*x - fixed costs

x= number of units

0= (500 - 260)*x - 184,800

184,800/240 = x

770=x

Now, under the unit contribution margin method:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 184,800/240

Break-even point in units= 770

5 0

2 years ago

What is the difference between sole proprietor and self employed

Kitty [74]

Answer:

Self Employed is the person working in a self owned business. Sole Proprietor is a person solely owning, managing a business.

Explanation:

Self Employment is the term used to depict economic activity of working for self owned organisation, rather than working for someone else. The self owned organisation could be entirely (solely) self owned - sole proprietorship, or co-owned by partners in a limited liability partnership

Sole Proprietor is a business entity owned, managed, run by a single entrepreneur. It is a business legal term given to an economic organisation. In this case, the proprietor necessarily has unlimited liability towards firm's claims. However, its not so always in case of self employment in LLC

5 0

3 years ago