3 years ago

The matching principle:

1 answer:

8 0

Answer: Option D

Explanation: Matching principle is an accounting standard which states that the expenses incurred in a period should be recognized in the period in which the revenue relating to that expense is earned regardless of the fact when the cash exchange has been done.

So, as per the given problem option D is the right answer.

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Janice Cullen, owner of a nationally renowned photography business, files a registration statement and prospectus with the SEC.

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Answer: (A) and (D)

Explanation:

(A)

Since it is a nationally renowned photography business, it has been running for sometime. Most likely hence, it has been operating as a registered nonprofit organization and the top 10 clients were owners of local charities

(D)

Janice sold the securities to the 40 clients 25 days after filing her registration statement with the Securities and Exchange Commission.

The question says she "decided" to sell those securities on the 5th day after filing her registration statement. It didn't say she sold it on that day.

So, if we sold the securities 25 days after, her court case would be different.

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Hierarchical structure that identifies the project's resources by category and type.

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Processes of project time management involves identifying and documenting the relationships between project activities...

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4 years ago

If a case of 24 cans of peaches costs $7.50, how much does each can cost, to the nearest cent?

Gnoma [55]

$7.50 divided by 24= 0.31

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4 years ago

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True or false? virtually all surface water is polluted and needs to be treated before it can be safely consumed.

Vadim26 [7]

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3 years ago

Bramble Corp. received $93000 in cash and a used computer with a fair value of $348000 from Blossom Company for Bramble Corp.'s

fredd [130]

Answer:

A. $27,600

B. $348000

Explanation:

A. Calculation for How much gain should Bramble recognize on this exchange

Recognized gain=$441000-$413400

Recognized gain=$27,600

Therefore Bramble recognize on this exchange is $27,600

B. Based on the information given we were told that the company received a used computer that has a fair value of the amount of $348000 from Blossom Company which means that the fair value amount of $348000 is what the acquired computer be recorded.

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