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3 years ago

Skidmore Music Company had the following transactions in March:

Business

1 answer:

finlep [7]3 years ago

5 0

Answer: Check attachment

Explanation:

A cash basis income statement is simply referred to as an income statement which contains revenues and expenditures for the company whereby cash has either being received or paid by the company.

For accrual basis income statement, revenue and expenditures are recorded when they're either earned or made.

Check the attachment for more analysis.

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A property owner installs a new air conditioning system. how does this affect the property's effective age?

Rama09 [41]

The effect that the newly installed air conditioning system would have on the property's effective age would be: it decreases it.

<h3>What is a Property's Effective Age?</h3>

The effective age of a property can be described as the reflection of the true life of the property that is left remaining, based on the life expectancy that is typical of equipment or buildings that are similar to it and their usage.

So, when a property owner installs a new air conditioning system on a property, the air conditioning system, can cause wear and tear to the property which reduces how long the property can serve its purpose.

Therefore, we can conclude that the effect that the newly installed air conditioning system would have on the property's effective age would be: it decreases it.

Learn more about a Property's Effective Age on:

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6 0

2 years ago

Using the following end-of-year information, calculate the number of days' sales in receivables for Year 2.

victus00 [196]

Answer:

The number of days' sales in receivables for Year 2 is 48.7

Explanation:

The formula that is applicable to this scenario is the accounts receivable divided by sales multiplied by 365 days

The number of days' sales in receivables=$11,000/$82,500*365=48.67

The correct option is D, since the 48.67 was simply rounded down to one decimal place.

6 0

3 years ago

The physical flow reconciliation is a report that:

Diano4ka-milaya [45]

Answer: The correct answer is "A. reconciles the physical units started in a period with the physical units completed in that period.".

Explanation: The physical flow reconciliation: reconciles the physical units started in a period with the physical units completed in that period.

Through this process it is possible to control, how many units are started in a period and how many are finished in that period.

5 0

4 years ago

1. Heather and Joe want the lowest interest rate for their residential mortgage. Which financial institution is designed to offe

gogolik [260]

By definition, a mortgage is loan that is used to purchase a property. The financial institutions can are designed to offer low interest rates on residential mortgages are commercial banks and loan associations. They often lead against the one-to-four family mortgages.

7 0

3 years ago

On January 2, 2020, Pull Corp. paid $516,000 for 24% (96,000 shares) of the outstanding common stock of Olivia Co. Pull used the

cestrela7 [59]

Answer:

(a). Journal entry shown below:

(b). Balance in the investment account = $649,167

Explanation:

As per the data given in the question,

Journal entry to record the sale of the 20,000 shares:

Cash A/c Dr. $240,000

(20,000×$12)

Loss on sale of investment A/c Dr. -$69,166.67

($170,833-$240,000)

To Investment in Olivia co. A/c $170,833

($820,000÷96,000×20,000 shares)

(To record the sale of 20,000 shares)

Balance in the investment account in Jan 1 2020 = $820,000

Investment in Oliver Co. sold = $170,833

Balance in the investment account after the sale = $820,000-$170,833

=$649,167

6 0

3 years ago