The theory that real shocks to the economy are the primary cause of business cycles is

Yard Designs (YD) experienced the following events in 2018, its first year of operation:

Natasha_Volkova [10]

Answer:

a)

assets = liabilities + equity

cash deferred revenue retained earnings

1) $40,800 $40,800

2) $0 -$,6800 $6,800

$40,800 $34,000 $6,800

revenues - expenses = net income cash flows

1) $0 $0 $0 $40,800 OA

2) $6,800 $0 $6,800 $0 OA

$6,800 $0 $6,800 $40,800 NC

b) Yard Designs

Income Statement

For the year ended December 31, 2018

Revenues $6,800

Expenses $0

Net income $,6800

Yard Designs

Balance Sheet

For the year ended December 31, 2018

Assets:

Cash $40,800

Total assets $40,800

Liabilities:

Deferred revenue $34,000

Equity:

Retained earnings $6,800

Total liabilities and equity $40,800

Yard Designs

Statement of Cash Flows

For the year ended December 31, 2018

Cash flows from operating activities:

Net income $6,800

Adjustments to net income:

Increase in deferred revenue $34,000

Net cash flow from operating act. $40,800

Cash flows from investing activities: $0

Cash flows from financing activities: $0

Net increase in cash $40,800

Initial cash balance $0

Ending cash balance $40,800

c) $34,000

5 0

3 years ago

Ana is trying to finish an account analysis for a client, but she's missing data. She e-mails Claire in database administration

Mademuasel [1]

Answer:

This is an example of information communication

Explanation:

Is an extensional term for information technology, that stress the role of unified communications.

3 0

3 years ago

In two or more complete sentences, compare and contrast making a purchase with a debit card versus making a purchase with a cred

Vlad [161]

Answer:

When you pay with a credit card you use the bank's money that you have to pay back but with a debit card, you are using money straight out of your account. In the end, you are basically using your money just not in the form of paper.

Explanation:

When you pay with a credit card you use the bank's money that you have to pay back but with a debit card, you are using money straight out of your account. In the end, you are basically using your money just not in the form of paper.

3 0

2 years ago

Baxter Company produces children's wiffle ball sets using a threeminusstep sequential process that includes molding, coloring

anyanavicka [17]

Answer:

C) WIP InventoryWIP Inventory-Finishing

Explanation:

Cost of WIP is transferred through Molding to Coloring to the last process of the production finishing. After completing the finishing the balls are ready and the cost is transferred from WIP InventoryWIP Inventory-Finishing to Finished goods Inventory. So, the correct answer is C) WIP InventoryWIP Inventory-Finishing.

5 0

3 years ago

Krepps Corporation produces a single product. Last year, Krepps manufactured 33,100 units and sold 27,800 units. Production cost

AfilCa [17]

Answer:

The correct answer is $95,400 lower than absorption costing.

Explanation:

According to the scenario, the given data are as follows:

Units manufactured = 33,100

Sold units = 27,800

So, Units in ending inventory can be calculated as follows:

Units in ending inventory = Units manufactured - Sold units

= 33,100 - 27,800 = 5,300 units

Now, Fixed manufacturing OH = $595,800

So, we can calculate the fixed manufacturing OH per unit by using following formula:

Fixed manufacturing OH per unit = $595,800 ÷ 33,100 = $18

So, Difference in net income for the year can be calculated as follows:

Net income difference = Fixed manufacturing OH per unit × Units in ending inventory

= $18 × 5,300 units = $95,400

Hence, The net income in variable costing is $95,400 which is lower than in absorption costing.

7 0

3 years ago