Answer:
d.expenses on an accrual basis are greater than expenses on a cash basis.
Explanation:
Expenses are incurred on two basis namely;Cash basis and Accrual basis. When an expense is incurred and cash is paid, the entries posted are
Debit Expense (p/l)
Credit Cash account
When purchased and payment is yet to be made
Debit Expense (p/l)
Credit Accounts payable
when payment is made,
Debit Account payable
Credit Cash account
This results in a reduction in the accounts payable balance. As such, an increase in account payable is an increase in expense made on accrual basis.
The right option is d.expenses on an accrual basis are greater than expenses on a cash basis.
<u>Full question:</u>
Brendan travels extensively for his company. He stays at hotels that provide him with a(n) ________ that is imbedded with his personal information as well as a code to unlock his hotel room.
A. smart card
B. credit card
C. automatic key
D. RFID tag
<u>Answer:</u>
He stays at hotels that provide him with a(n) smart card that is imbedded with his personal information as well as a code to unlock his hotel room.
<h3><u>
Explanation:</u></h3>
Smart cards are shifting one of the most prevalent ways to retain a hotel modernized. When it comes to the most advanced technology, smart card systems can be exercised for various functions to enable a hotel to run placidly. Accommodating both customer service and staff to improve operations.
Modernizing your systems can put you a move ahead of the competition, guaranteeing you can allow your visitors the very best service. A smart card can operate as a room key, extended for access to a particular room and other fields such as the gym or spa.
Answer:
Cash $725200 Dr
Loss on Sale-Factoring $14800 Dr
Accounts receivable $740000 Cr
Explanation:
When factoring is done, the company actually sells its receivables and receives cash from the firm buying the accounts receivables. The factoring or buying firm will also charge a % fee that the selling firm will record as a loss in its accounts.
The cash received on factoring of this arrangement is 740000 * 0.98 = 725200
The loss on sale is 740000 * 0.02 = 14800
Thus the company will debit the cash that it is receiving and debit the loss on sale as it is an expense which is increasing. The accounts receivables will be credit from the books as they no longer belong to Pharaoh
Answer:
36 + 12m
Explanation:
The first step is to solve the expression be removing the bracket
12(3+m)
36 + 12m
Hence 36+12m represents the expression
Answer:
B,$1000
Explanation:
The price of the bond can be computed using the pv formula in excel which is given below:
=-pv(rate,nper,pmt,fv)
rate is the yield to maturity which is 8%
nper is the time horizon of the bond which is 10 years
pmt is the yearly coupon amount payable by the bond which is 8%*$1000=$80
fv is the face value of $1000
=-pv(8%,10,80,1000)
=$1000
The issue price is $1000 which is the same as par,the quick way out is that when coupon rate and yield are the same,the bond is issued at a par value of $1000
