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4 years ago

Health care, insurance, recreation and other intangible products are provided by the:

Business

1 answer:

LekaFEV [45]4 years ago

4 0

Answer:

B) service industry.

Explanation:

Service industry usually provide intangible products.

I hope my answer helps you

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The following information pertains to Diane Company. Assume that all balance sheet amounts represent both average and ending bal

lakkis [162]

Answer:

The Return on total assets is 7.3%. The right answer is c

Explanation:

In order to calculate the the return on total assets we would have to calculate the following formula:

Return on total assets = Earnings before interest and taxes / Average total assets

Earnings before interest and taxes=Net income + Interest expense

Net income=$21,643

Interest expense=$4,450

Average total assets =$359,218

Return on total assets= ($21,643 + $4,450) / $359,218

Return on total assets=0.0726=7.3%

The Return on total assets is 7.3%

6 0

4 years ago

Omega Manufacturing employs some of the top professionals in its field, and because of their skills and experience, Omega is hig

Kaylis [27]

Answer:

Omega has a competitive advantage over its competition.

Explanation:

Competitive advantage involves factors which put a company in higher position compared to the competitors. It also referred to as competitive edge. There are types of competitive advantage which include cost, differentiation, and people. Omega manufacturing falls under the third category as it has gained a competitive edge by investing in top professionals in order to give a cut-throat competition to the rival companies.

8 0

4 years ago

Information necessary to prepare the year-end adjusting entries appears below. Depreciation on the office equipment for the year

lisov135 [29]

Answer:

Journal entries

Dr Depreciation expense 10,500

Cr Accumulated depreciation office equipment 10,500

Dr Salaries and wages expense 1,000

Cr Salaries and wages payable1,000

Dr Interest expense1,530

Cr Interest payable1,530

Dr Interest receivable 1,400

Cr Interest revenue 1,400

Dr Prepaid insurance 8,750

Cr Insurance expense 8,750

Dr Supplies expense 380

Cr Supplies 380

Dr Sales revenue 1,400

Cr Deferred revenue 1 400

Dr Rent expense 700

Cr Prepaid rent 700

Explanation:

Calculation for Interest expense

($51,000 × 12% × 3/12) = $1,530

Calculation for Interest receivable ($21,000 × 8% × 10/12) = $1,400

Calculation for Prepaid insurance ($7,000 × 15/12) = $8,750

Calculation for Supplies expense ($1,000 − 620) = $380

4 0

4 years ago

Transformations Hair Salon uses an activity-based costing system to determine the cost of services. The salon has determined the

Archy [21]

Answer:

$569250

Explanation:

Due to the format of the answer, I was unable to explain it in detail here. Please refer to the attached file for explanation as well as the original question.

Download xlsx

4 0

3 years ago

Garcia Co. owns equipment that cost $77,200, with accumulated depreciation of $41,000. Record the sale of the equipment under th

gtnhenbr [62]

Answer:

(1)

cash 47,300 debit

acc dep 41,000 debit

equipment 77,200 credit

gain at disposal 11, 100 credit

(2)

cash 36,200 debit

acc dep 41,000 debit

equipment 77,200 credit

(3)

cash 31,100 debit

loss at disposal 5,100 debit

acc dep 41,000 debit

equipment 77,200 credit

Explanation:

book value: historic cost - accumulated depreciation

77,200 - 41,000 = 36,200

Now we compare the book value with the different sales values:

(1) 47,300 - 36,200 = 11,100 gain

(2) 36,200 - 36,200 = zero

(3) 31,100 - 36,200 = 5,100 loss

for the journal entry, in all cases we debit the cash collected

the depreciation and credit the asset.

the nwe will postthe gain or loss an disposal accordingly

7 0

3 years ago