Answer:
c. The "apparent," but not necessarily the "true," financial position of a company whose sales are seasonal can change dramatically during a given year, depending on the time of year when the financial statements are constructed.
Explanation:
Financial statements are used to show the financial activity of a business within a given period.
One of the principles of a accounting is periodicity. This requires businesses to report their financial position at regular intervals consistently, and not in an inconsistent manner. So if a business reports their finances twice a year. At year end and at mid year, it is possible that at mid year due to seasonal sales performance will be high and business is perceived to be highly profitable.
But financial report at end of year in the off-season will show low performance.
So for seasonal businesses there can be apparent view of a business during the year that can change dramatically because of time at which reports are made.
Answer:
is this a question?
if its true or false its false
Answer:
a gain for 6,000 dollar will be recognized
the new bonds basis will be of 22,000
Explanation:
Total proceeds from the sale:
22,000 in bonds plus 3,000 cash for a total of 25,000
The basis of the bond gifted was 19,000
Therefore, there is a realzied gain on sale for the difference which is 6,000 dollars.
The new bonds are worth 22,000 therefore their basis will be of 2,,000 dollars
The reason that cartoon caricatures of politicians in which
exaggerates certain characteristics are persuasive mainly because of its
iconicity. Iconicity is being referred or used in means of having two aspects
that share a resemblance or similarity to each other as a way that it has a
resemblance in order to produce the meaning to a different manner or way.
Answer and Explanation:
The computation of the depreciation expense and book value at the end of 2016 is shown below:
But before that first determine the cost of the asset which is
Cost of the asset is
= Purchase price + rear hydraulic lift + sales tax
= $62,000 + $8,000 + $3,000
= $73,000
Now the depreciation expense is
= ($73,000 - $8,000) ÷ (10 years)
= $6,500
ANd, the book value is
= $73,000 - $6,500 × 2
= $60,000
