Answer:
In simple words, Prior to filing financial reports, extra journal entries, named correction reports, are produced to strengthen the financial documents of the organisation conform to the standards of revenue identification and alignment.
Adjustment entries are required since a single item might influence profits or expenditures over a span of more for one accounting cycle but also because not all transactions were automatically recorded over the time period.
Each change entry typically affects one financial report of revenue (a financial of income or expenditure) and one report balance sheet (an account of assets or liabilities).
Answer:
The correct answer is within; among.
Explanation:
Market segmentation is used by companies to separate the target audience with which they want to work. Considered as a market phenomenon, the technique consists of defining the marketing strategy by identifying the target market.
Segmenting this market means dividing it so that consumers are grouped according to a series of characteristics, needs or preferences. It is important that a segment has people with homogeneous factors and these depend on the objective of segmentation.
This separation into groups of consumers allows the company to identify and privilege one or more segments according to a range of objectives or products.
The segmentation process requires that the criteria that affect or influence purchase decisions be identified. There are various segmentation criteria: social, geographic, demographic, economic, social, lifestyle, and many others.
Normally, in a market segmentation it is necessary to address several of the criteria to better guide the marketing actions to follow. The more aspects that are used to characterize an audience, the easier it will be to develop a marketing strategy.
There is no way to think about segmenting a target audience without knowing what characteristics it needs to have in order for the strategy to be correctly defined.
Answer: $972,900
Explanation:
The cost of land consists of the actual purchase price, and all other expenses that are necessary to make the asset ready for its intended use. In terms of land, all these expenditures can include title fees, unpaid taxes from previous years only (i.e. not current taxes), and other expenses need to physically prepare the land for use. The current taxes figure of $4,600 is not included here, as it is only owed during the current year, therefore normal accounting rules for taxes will apply. This figure will thus be treated as a liability until it is paid. The back taxes were aqcuired when the asset was aqcuired, and thus form part of the cost.
Old buildings that were on the land, may need to be teared down so that land can be utilised. The costs used to demolish the building also forms part of the purchase price. On top of that, to fully prepare the land for use the land may need to be landscaped and leveled. All these costs contribute towards getting the land ready for use, and are thus included in the cost. Sales made on any item related to the land, during the process when the land was still being processed for its intended use, will reduce the cost of the asset, and deduct this figure. This figure will fall under sales, which is an income to the business. The full calculation of the cost is as follows:
Purchase price: $910,000
Title insurance: + $2,400
Unpaid property taxes: + $8,300
Cost of removing building: + $45,900
Sale of salvaged materials: - $4,000
Level the land: + $10,300
Cost of land: = $972,900
