Answer:
Report a prior period adjustment decreasing retained earnings by $1,365,000.
Explanation:
Going by the question we can derive that $2,100,000 is the prior period's warranty. Consequently, it will be charged to the current year's earnings following the deduction of tax, 35%.
(2,100,000 *65) /100 = $1,365,000
This above calculation is so because Under the accrual basis of accounting...operating expense are reported on the income statement in the particular period when they took place or when they expire
High taxes in theory would slow the economy because they redirect money from the private sector to the government and reduce consumption.
<h3>How do high taxes slow the economy?</h3>
The economy grows when the private sector produces more and grows. High taxes will take money from this sector which would leave less cash for growth investment.
High taxes also reduce the amount that people have for consumption which would reduce Aggregate demand.
Find out more on Aggregate Demand at brainly.com/question/1490249.
#SPJ12
Answer:
D) Relationship marketing
Explanation:
Relationship marketing is a strategy companies use to connect with their customers, build relationships and ensure loyalty. It involves engaging customers over a lengthy period to know their needs and then providing them with products or services tailored to satisfy those needs.
By initiating a project to build a website and encouraging customers to provide certain information to the company, Fiona plans to use the Internet for "relationship marketing".
Answer: Depreciation expense reflects the decrease in market value each year.
Explanation:
Depreciation is the decrease in the value of an asset due to the passage of time. Overtime, the value of machineries reduce as a result of usage. Depreciation is therefore the reduction in the value of assets. Depreciation is also the method used tin reallocating the cost of a tangible assets over its useful life span. Firms depreciate assets for accounting and tax purposes. The reduction in the value of an asset has am effect on the balance sheet of an entity.
The answer to the question is the second option. Depreciation does not have anything to do with the market value. Other options are correct except for the second option which states that depreciation expense reflects the decrease in market value each year.
Answer:
the present value is $88,087.08
Explanation:
The computation of the present value is shown below:
As we know that
Future value = Present value × (1 + rate of interest)^number of years
$203,000 = Present value × (1 + 0.11)^8
So, the present value is $88,087.08
hence, the present value is $88,087.08
