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s2008m [1.1K]
3 years ago
14

Gains are: a) Inflows from selling a product or service to a customer b) Increases in equity resulting from transfers of assets

to the company from owners. c) Increases in equity from peripheral transactions of an entity d) None of these is correct.
Business
1 answer:
valkas [14]3 years ago
6 0

Answer:

C) Increases in equity from peripheral transactions of an entity

Explanation:

A) Is the description of Revenue

B) Social capital increase

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Mark and Riley live in Orlando and decide to open a souvenir shop. They incorporate their shop, Sunshine Gifts, Inc., in the sta
Nesterboy [21]

Mark and Riley live in Orlando and decide to open a souvenir shop. They incorporate their shop, Sunshine Gifts, Inc., in the state of Florida. In Florida, Sunshine Gifts would best be characterized as A domestic corporation.

<h3><u>What are domestic corporations ?</u></h3>
  • A domestic corporation is a business that operates within its own nation.
  • A domestic business may have to pay tariffs or other fees on the goods it imports and is frequently subject to different taxation than a non-domestic firm.
  • In most cases, a domestic corporation that has filed its articles of incorporation can readily conduct business in other states or regions of the nation.

To view more questions about domestic corporation, refer to: brainly.com/question/800904

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8 0
1 year ago
Thomas Consultants provided Bran Construction with assistance in implementing various cost-savings initiatives. Thomas’s contrac
expeople1 [14]

Answer:

1. $54,000

2. $50,000

3. $50,000

Explanation:

1. The computation of transaction price if the expected value is used is shown below:

= Flat fee + (Cost savings × given percentage)

= $50,000 + ($20,000 × 20%)

= $50,000 + $4,000

= $54,000

2. The computation of transaction price if the estimate of variable consideration is used. So, only a flat fee should be considered and the cost saving is ignored. Hence, the amount is $50,000

3. The computation of transaction price if the estimate of variable consideration is used. So, only a flat fee should be considered and the cost saving is ignored. Hence, the amount is $50,000 as there is very uncertainty due to lack of experience

6 0
3 years ago
Why might a company that sells advanced lighting systems include a technical specialist on its sales teams?done
erik [133]
I think the answer is C
7 0
2 years ago
A firm has an equity beta of 1.2, the risk-free rate is 3.4 percent, the market return is 15.7 percent, and the pretax cost of d
Alik [6]

Answer:

0.82

Explanation:

Calculation to determine the firm's asset beta

Using this formula

Firm's asset beta=Equity beta/(1+/D/E)

Let plug in the formula

Firm's asset beta=1.2/(1+0.47)

Firm's asset beta=1.2/1.47

Firm's asset beta=0.816

Firm's asset beta=0.82 (Approximately)

Therefore the firm's asset beta is 0.82

5 0
3 years ago
The trial balance of Woods Company includes the following balance sheet accounts. Identify the accounts that might require adjus
almond37 [142]

Answer:

The account wise answers are given below

Explanation:

a) Account receivable are adjusted for any doubtful debts and uncollectible accounts from customers.

In this account, the adjusting entry we make as follows

Bad debt Expense        Dr.$$

Provision for Bad debts  Cr. $$

When it is certain that customer will no longer pay the specified amount, the write off entry is made as follows

Provision for Bad Debts    Dr. $$

Accounts Receivable        Cr. $$

b)Prepaid Insurance

It is adjusted when the period for it is paid in advance has lapsed or expired then expense is recorded and prepaid insurance is reduced

The adjusting entry is made as follows,

Insurance Expense   Dr.$$

Prepaid Insurance    Cr.$$

c) & d) Equipment & Accumulated Depreciation

The Assets are adjusted over their useful life for depreciation. When an asset is used during whole year, its cost is reduced and that reduction is recorded as deprecation expense and accumulated depreciation.

The Adjusting Entry is made

Depreciation Expense      Dr. $$

Accumulated Depreciation  Cr. $$

When asset is sold the adjusting entry is made,

Accumulated Depreciation Dr. $$

Asset-Equipment                    Cr. $$

e)Notes Payable & f) Interest payable

These are liabilities. When any expense is accrued and any interest is payable but not paid on loan received is recoded is liability.

The adjusting entry is made,

Interest Expense/Notes Expense   Dr.$$

Interest Payable or Notes Payable  Cr.$$

g) Unearned Service Reveune

It is liability in nature when services are not rendered but amount for those services is paid in advance then its called unearned service revenue.

When those services are actually rendered to customers, the adjusting entry is made,

Unearned Service revenue Dr. $$

Service revenue                    Cr. $$

7 0
3 years ago
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