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3 years ago

Select the appropriate reporting method for each of the items listed below.

Business

1 answer:

Radda [10]3 years ago

6 0

Answer:

Items --- Reporting Method

1 . Accounts payable - Current liability

2 . Current portion of long-term debt - Current liability

3 . Sales tax collected from customers - Current liability

4 . Notes payable due next year - Current liability

5 . Notes payable due in two years - Long-term liability

6 . Advance payments from customers - Current liability

7 . Commercial paper - Current liability

8 . Unused line of credit - Disclosure note only

9 . A contingent liability that is probable likelihood of occurring within the next year and can be estimated - Current liability

10 . A contingent liability that is reasonably possible likelihood of occurring within the next year and can be estimated - Disclosure note only

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A monopolist introduces a technological innovation that lowers the marginal cost and average cost of production. The price of th

yawa3891 [41]

Answer:

A Price: Remain constant, Level of Output: Remain constant, Profits: Increase

Explanation:

The image attached shows the different possible solutions. Options can be eliminated based on the problem statement. First, Options B, C and D can be discounted because of the change in output levels. From the information available, the technological innovation lowers marginal cost and cost of production, however it does not affect production time or output levels.

For the two remaining options, A and E, both are possible scenarios based on the information available.

Option E:

Price decreases, output level remains the same and profit remains the same. While this is a possible outcome, as the business is a monopoly, there is no incentive for the monopolist to reduce prices along with cost as they are already the only player in the market. Especially when the reduction in price does not result in increased profit.

Option A:

Price and output level remain constant, while profit increases. This is the most likely outcome as the business is a monopoly. The owner can take advantage of the reduced costs and sell at the same price to increase profits.

3 0

3 years ago

Which of the following statements about the relationship between interest rates and bond prices is true? Multiple Choice There i

MaRussiya [10]

The statement about the relationship between interest rates and bond prices that is true is A. There is an inverse relationship between bond prices and interest rates, and the price of long-term bonds fluctuates more than the price of short-term bonds for a given change in interest rates (assuming that the coupon rate is the same for both).

It should be noted that when there's an increase in the interest rate, the price of bonds will be low. also, a decrease in the interest rate will lead to a higher bond price.

At a particular interest rate, the price of long-term bonds fluctuates more than the price of short-term bonds. It should be noted that the relationship between the bond price and Interest rate isn't direct but rather inversely related.

In conclusion, the correct option is A.

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4 0

1 year ago

Each of these items must be considered in preparing a statement of cash flows for Pharoah Company. for the year ended December 3

zavuch27 [327]

Answer:

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Explanation:

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3 years ago

In 2019, Felicity's business use of her vehicle fell to less than 50%. Regular MACRS depreciation had been used in prior years.

Flauer [41]

Answer:

(d) Straight-line method (SL), the same convention as used in the first year of depreciation, ADS recovery period

Explanation:

The straight line method is the best to use, the convention to be used is the same as what was used in the first year of depreciation and the recovery period in 2019 is the ADS recovery period.

To decrease annual deduction, it is standardized that ADL is used with straight line method with 31 plus years for a recovery period that is longer.

5 0

2 years ago

Bonita Industries has estimated that total depreciation expense for the year ending December 31, 2018 will amount to $583000, an

Mice21 [21]

Answer:

Total expenses 936,500

depreciation 291,500

wages expense 645,000

Explanation:

Assuming the depreciation are calculate base on straight line or that their output is lineal through the year:

It will be half of the depreciation for the year.

583,000 / 2 = 291,500 depreciation expense for six-month

For the year-end bonused It wll be the same ideal, we assume are earned equally during the year. So at half year half of the bonuses should be earned:

wages expense 1,290,000/2 = 645,000

Total expenses 936,500

7 0

2 years ago