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lys-0071 [83]
3 years ago
11

Each of the following statements may (or may not) describe one of these technical terms. In the space provided below each statem

ent, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms. ________ (a.) An expenditure that will benefit only the current accounting period. ________ b.) The accelerated depreciation system used in federal income tax returns for depreciable assets purchased after 1986. ________ c.) A policy that fractional-period depreciation on assets acquired or sold during the period should be computed to the nearest month. ________ d.) An intangible asset representing the present value of future earnings in excess of normal return on net identifiable assets. ________ e.) Expenditures that could lead to the introduction of new products, but which, according to the FASB, should be viewed as an expense when incurred. ________ f.) Depreciation methods that take less depreciation in the early years of an asset's useful life, and more depreciation in the later years. ________ g.) An account showing the portion of the cost of a plant asset that has been written off to date as depreciation expense
Business
1 answer:
densk [106]3 years ago
7 0

Answer: Please find below the answer. You omitted the terms to be used.

Explanation: Using the accounting terms,  Revenue expenditure. straight line policy, Goodwill,capital expenditure, half year convention, accelerated depreciation, research and development, MACRS,

filling in the terms appropriately, or None, if statement does not describe any term, we have

a)An Expenditure that will benefit only the current accounting period - Revenue expenditure

b) The accelerated depreciation system used in federal income tax returns for depreciable assets purchased after 1986 - MACRS

c) A policy that fractional period depreciation on assets acquired or sold during the period should be computed to the nearest month - Straight Line  policy

d) An intangible asset representing the present value of future earnings in excess of normal return on net identifiable asset - Goodwill

e) Expenditures that could lead to introduction of new products, but which according to FASB, should be viewed as an expense when incurred - Research and Development

f-)Depreciation method that takes less depreciation in early years of an asset's useful life, and more depreciation in later years - NONE

g) An account showing that portion of the cost of a plant asset that has been written off to date as depreciation expense - Accumulated Depreciation.

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Answer: Please refer to Explanation

Explanation:

The Dominant Strategy in a game is the strategy that a player will choose that will provide them with the highest payoff regardless of what the other player does.

In the above, the dominant strategy will be for RAPHAEL to choose LEFT.

By choosing left Raphael makes a payoff of 4 if Susan picks Left as well and a Payoff of 6 if Sudan picks Right. This is better than him picking Right and he will get a Payoff of 3 if Susan chooses Right as well.

The Nash Equilibrium is the strategy where both are making the best that they can given the strategy of the other player and deviating from it will give them less pay out.

The dominant strategy therefore is for RAPHAEL to choose LEFT and for SUSAN to choose RIGHT.

This is because Raphael will pick Left as it maximises their payoff and Susan will then pick a strategy that gives her the highest payoff based on Raphael's decision which is to go RIGHT.

7 0
3 years ago
What are four positive aspects of franchising for a business start-up? Why are they important ? .
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The primary advantages for most companies entering the realm of franchising are capital, speed of growth, motivated management, and risk reduction
3 0
3 years ago
Check my work Check My Work button is not enabled Item 4 Item 4 1 points Item Skipped The following data from the just completed
Trava [24]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Sales $ 660,000

Direct labor cost $ 86,000

Raw material purchases $ 135,000

Selling expenses $ 109,000

Administrative expenses $ 46,000

Manufacturing overhead applied to work in process $ 205,000 Actual manufacturing overhead costs $ 225,000

Inventories Beginning Ending Raw materials $ 8,200 $ 10,800

Work in process $ 5,000 $ 20,600

Finished goods $ 74,000 $ 25,900

1) cost of goods manufactured:

Beginning Work in process $ 5,000

Inventories Beginning Raw materials $ 8,200

Raw material purchases $ 135,000

Ending inventories Raw materials $ 10,800  (-)

Direct labor cost $ 86,000

Manufacturing overhead applied to work in process $ 205,000

Ending Work in process $ 20,600 (-)

Total= $407,800

2) Cost of goods sold:

Beginning Finished goods $ 74,000

cost of goods manufactured $407,800

Ending finished goods $ 25,900 (-)

Underapplied overhead= 20,000 (+)

Total COGS= $475,900

3) Income statement:

Sales= 660,000

COGS= 475,900

Gross income= $184,100

Selling expenses $ 109,000

Administrative expenses $ 46,000

Net operating income= $29,100

6 0
2 years ago
The Mykari Publishing House invested in buying high-end machinery that allowed its newspapers to be printed at twice the speed o
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Answer: above-average profits

Explanation: In the given case, while making the change in the operations the managements anticipated an increase in profit by 125 max. These types of anticipations are done by the managers on the basis of past records or the current existing trends.

Usually under such situations the management tries to take average of the anticipated figures so that expectations of take holders would not get high too much.

Hence the increase of 19% depicts that the profit increased by more than the average level as anticipated by the managers.

8 0
2 years ago
A compromise can only be reached when ______.
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The answer is A. When both sides agree. You both have to agree to the same thing or there is no comprimise its just two peoples opinions...

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