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PtichkaEL [24]
3 years ago
12

IOP Company purchased a machine on 1/1/22 costing $500. Estimated life was 5 years; estimated salvage value was $100. In 2025, I

OP discovered that the bookkeeper correctly used straight-line depreciation, but erroneously used an estimated life of 8 years in computing depreciation for the first 3 years of life. The Prior Period Adjustment to be recorded in 2025 will be:
Business
1 answer:
Fittoniya [83]3 years ago
7 0

Answer:

The Prior Period Adjustment to be recorded in 2025 will include a $90 debit as adjustment to Retained Earnings

Explanation:

Correct depreciation would have been = ($500-$100)/5 = $80

Depreciation charged wrongly as ($500-$400)/8 = $50

Therefore depreciation has been charged short by $30 for three years, thereby reflecting income greater by $30 each year for 3 years.

Since due to wrong depreciation retained earnings is higher by $90, therefore we have to debit retained earnings by $90

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To avoid the difficulties involved in starting a business from scratch, Sana decides to obtain the rights to operate an outlet o
Mariana [72]

Answer:

Franchisee

Explanation:

A franchise business is a form of business arrangement where a business owners , who is known as the franchisor , sells the right to operate its business to another entity known as the Franchisee.

This business arrangement is legally binding an it gives right to the use of the business name , logo ,and model to third party retail outlet.

This explains the type of business arrangement that Sana is planning , considering the explanation given in the question.

8 0
4 years ago
Read 2 more answers
When external costs are present, Group of answer choices democratic political decision-making can be counted on to improve the e
MaRussiya [10]

Answer:

The correct answer is the first option: Democratic political decision-making can be counted on to improve the efficiency or resource allocation.

Explanation:

To begin with, in the microeconomics theory, when there are external costs it means that people external to the transaction or situation are being involved in it and therefore that they are getting costs for that particular situation that they did not asked for it. That is why that according to the microeconomics theory when there are external situations to the market, this last one may sometimes not be able to efficiently allocate every resource to everybody and it is in that time when the government as a public state must entry in order to try its best to find the efficiency in the distribution of the limited resources.

3 0
4 years ago
Which of the following statements is CORRECT?
Shtirlitz [24]

"D" is the CORRECT and the most appropriate option our of all the options

Explanation:

There are many type of unethical practices in the business.

1. Differentiation - The main motive of the ethics is to understand the difference between right and wrong as the executive can provide information to the stockholders but not anyone outside the firm.

2. Loyalty - It is important when the employee is linked with any organisation to keep all its secrets as it known as Business Ethics.

3. Representation - As the employee represent the business entity , its image is at stake with the employee. Henceforth no such deed should be done.

6 0
4 years ago
You have spent weeks designing the project, gathering data and analyzing it. Now it is time to present your findings to senior e
Andrew [12]

Answer:

After spending weeks on a project, gathering data, followed by an analysis, when you are going to present your findings to the senior executes, In the very beginning of your report, in the executive summary, you can present and manifest and guide them about all the information, what they should know in making a decision

Explanation:

After spending weeks on a project, gathering data, followed by an analysis, when you are going to present your findings to the senior executes, you will have following 5 different course of actions;

Option 1: You can give them whole details through which you can have gone, meanwhile your discussion with the senior executives.

Option 2: Summary of the report in form of data tables can be provided without any recommendation and course of action suggested.

Option 3: You can also mention the information regarding the respondents of the research, if executives want to have follow-up and want to know to whom you have got your questionnaires filled up.

Option 4: In the very beginning, in the executive summary of the report, you can present and manifest and guide them about all the information, what they should know in making a decision

Option 5: You main focus could be primarily on the statistical analysis in your presentation, followed by the main recommendations at the end.

BEST POSSIBLE OPTION: As the senior executives are having very less time, therefore, it would be best for you present them with the information in the very beginning in the executive summary, in addition, all the information which they can consider to make a decision.

To recapitulate, keep the information needed to be considered for taking an action or decision, in your executive summary, in a best possible simple and short way.

5 0
4 years ago
What energy-carrier molecules are produced by glycolysis?<br>​
aev [14]

Answer:

hydrogen

Explanation:Remember that glycolysis produces two pyruvic acid molecules per glucose molecule along with two of the hydrogen-carrying NADH molecules. Remember also that the Krebs cycle produces NADH as well as another hydrogen carrier called FADH2.

7 0
3 years ago
Read 2 more answers
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