Answer:
Insurance $4,800 (debit)
prepaid insurance $4,800 (credit)
Explanation:
In order to find out adjusting entries. firstly, we need to calculate the difference between prepaid insurance account and Insurance account.
That could be done by subtracting $3,550 from $8,350.
Difference = 8350-3550= 4800
Answer:
D) Materiality is a matter of professional judgement
Explanation:
Answer:
Marketing Specialist
Explanation:
Marketing is in all the activities undertaken by a business to entice customers to but its products. It will include all promotional initiatives that aim at increasing the sales volume of a company. These activities range from advertising, promotions, publicity, and direct selling.
Rodney has graduated in marketing; meaning has acquired skills and competencies required in the marketing discipline. He will be more effective as a marketer as he has adequate knowledge of marketing. Rodney will be more fulfilled and better motivated in marketing because that is his area of strength.
Answer:
True Statements are:
B, C, D
Explanation:
All the capital cost incurred for an asset acquisition is added to the cost of capital asset.
The cost of capital asset here will include the following,
Replacement of wiring will not form part of cost of building, as is associated with fittings and computers, so either it will be clubbed in furniture and fittings or computers,
Replacement of roof is a part of building and shall be added to cost of building.
Painting, plumbing etc: will not form part of cost of building, as will be added to revenue expenditure and not the capital expenditure.
Thus with the above clarification of nature of expense, Statement B, C, and D are true.
Answer:
72000
Explanation:
Break even formula:
Break even in units=Fixed cost/Contribution margin per unit
= $ 36,000 / $ 6
= 6,000 Units
[Contribution margin=Sales price-Variable cost=12-6]
Break Even in Dollars = Break Even in Units * Selling Price Per Unit
= 6,000 Units * $ 12 Per Unit = $ 72,000
