Answer:
On January 1st, the $3,000 could buy 10,000 Swiss francs (3,000/0.3).
On June 1st, the $3,000 would buy 7,500 Swiss francs (3,000/0.4).
Explanation:
On January 1st, each Swiss francs could only purchase $0.30 while on June 1st, each Swiss francs could purchase $0.40.
These show that the Swiss francs had appreciated in value relative to the US Dollars with a positive change of 33%. Therefore, the dollar had weakened against the Swiss francs by the same rate.
Answer:
The correct answer is Option A.
Explanation:
The concept of double entry says for every debit entry, there must be a corresponding credit entry. This is necessary for the journal entries to balance, that is, the total of the debit balance must always equal the credit balance.
The building purchased by BOC is an asset. So there is need to debit that account to recognize the asset. Since there was an outflow of cash to the tune of $50,000, we need to credit cash while the remaining balance being financed by mortgage will be credited to recognize the liability.
How will the general ledger accounts in the trial balance most likely differ if the company were a retail store rather than a wholesale company?
A general ledger account is used to record transactions that a company has. A trial balance has all of the general ledger accounts listed shows all of the debits and credits that a company has faced. A retail store will have smaller product transactions over a wholesale store due to the wholesale store selling in bulk. There will likely be more credits and debits for a retail store whereas a wholesale store may have more debits as they are less likely to have returns.
How will they differ for a hospital or a government unit?
A hospital or government unit will have vastly different general ledger reports due to the type of agency they are. These transactions will deal more with insurance or big dollar companies rather than individuals on a smaller scale. A trial balance is not a financial statement but it used to show balances that an organization has.
Answer:
reference groups
Explanation:
Reference groups are considered a social influence in consumer purchasing. They are often groups that consumers will look to to make purchasing decisions. So if a reference group endorses a product, either through use or statements about the product, those that look to the group will often purchase that product.
Answer:
Explanation:
pretax book income 1,003,000
warranties increased 25,600
depreciation exceeded tax depreciation 100,300
dividends received deduction -15,300
Net amount $1,113,600
Taxable amount is $1,113,600
In order to find income tax expense or benefit, multiply the taxable amount by tax rate.
