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igomit [66]
2 years ago
13

Drafi Arts Corp. makes and sells original handicraft products. The management of the company has been successfully using a niche

strategy for years. In this case, which of the following is most likely to be true of Drafi Arts Corp.?
Business
1 answer:
Lerok [7]2 years ago
4 0

Answer:

It only serves a limited geographic market.

Explanation:

In this regard, it can be said that the company Drafi Arts Corp serves a limited geographic market, because it is a company that has been using a successful niche market strategy for years, which means that it manages to meet a demand for handicrafts from location, which sets up its strategy to serve a specific market.

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The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars): pretax
melisa1 [442]

Answer:

correct option is (A) A deferred tax liability of $16 among noncurrent liabilities.

Explanation:

solution

pretax account income = $200

overweight fines=  $5

understate depreciation = 110 - 70 = $40

so total taxable income is = $200 - $5 - $40

total taxable income is = $165

and

income tax is = 40% of $165

income tax = $66

and

income tax expense as per book is = 40 % of ( 200 + 5 )

income tax expense as per book is = $82

so deferred tax liability among non current liability is = $82 - $66 = $16

so correct option is (A) A deferred tax liability of $16 among noncurrent liabilities.

5 0
3 years ago
Danny operates a plumbing business, and this year the three-year-old van he used in the business was destroyed in a traffic acci
seropon [69]

Answer:

$4,600

Explanation:

Casualty loss deduction = Adjusted basis - insurance compensation = 5800-1200= $4,600

3 0
2 years ago
Which statement about truffles is correct? A. They resemble pineapple in texture and color. B. They're prized for being both ple
s2008m [1.1K]
The correct answer is C.
8 0
3 years ago
Read 2 more answers
atkins company collected $1,750 as payment for the amount owed by a customer from services provided the prior month on credit. h
Svetradugi [14.3K]

The effect of the transaction by Atkins Company of collecting payment for an amount owed by a customer is One asset would increase $1,750 and a different asset would decrease $1,750, causing no effect.

<h3>How does an increase and decrease in assets affect the accounting equation?</h3>

The fact that a customer owed Atkins Company means that the customer was an accounts receivable which is an asset account.

The cash that Atkins Company collected is also an asset. So, the transaction simply led to one asset(accounts receivable) being reduced and the other asset(cash) being increased. The amount is the same so there would be no effect.

Find out more on changes to the accounting equation at brainly.com/question/27905497

#SPJ1

6 0
2 years ago
On June 8, Alton Co. issued an $88,500, 7%, 120-day note payable to Seller Co. Assume that the fiscal year of Seller Co. ends Ju
Furkat [3]

Answer:

Amount of interest revenue recognized =\frac{2065\times 98}{120}=$1686.41

Explanation:

Principal amount P = $88500

Rate of interest r = 7 %

Total number of days = 120

So interest =\frac{principal\ amount\times rate\times time}{100}=\frac{88500\times 7\times 120}{360\times 100}=$2065

Number of days from 8 june to 30 june = 30-8 = 22 days

So left days = 120-22 = 98 days

So amount of interest revenue recognized =\frac{2065\times 98}{120}=$1686.41

3 0
3 years ago
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