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3 years ago

To maintain your car, every week you should check the __________

Business

2 answers:

vredina [299]3 years ago

7 0

Oil level, tire presseure

fgiga [73]3 years ago

3 0

The answer is: oil level & tire pressure

Checking your oil level is important to ensure your car component stays well lubricated. This would increase the longevity of those components.

Tire pressure is extremely crucial to maintain to ensure that your cars remain stable during its use on the road. Neglecting your tire pressure would damage the durability of your tire and prevent your car from moving at optimum level.

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The prepaid insurance account had a beginning balance of $6,600 and was debited for $2,300 for premiums paid during the year. Jo

____ [38]

Explanation:

The adjusting entry is as follows

Insurance expense A/c Dr $4,800

To Prepaid insurance A/c $4,800

(Being the insurance expense is recorded)

The computation is shown below:

= Beginning balance + debited amount - unexpired insurance amount

= $6,600 + $2,300 - $4,100

= $4,800

So while preparing the adjusting entry, we debited the insurance expense account and credited the prepaid insurance account

8 0

3 years ago

If a firm is making an economic profit of zero:__________.

kati45 [8]

Answer:

The correct answer is letter "D": the firm should change to a different line of business.

Explanation:

Economic profit is the difference between the revenue a firm earns from sales and the firm's total opportunity costs. It is important to distinguish between accounting profit and economic profit. Accounting profit is total revenue minus the explicit costs of producing goods or services. Economic profit includes the opportunity costs a company losses or gains by choosing a route to pursue revenue. If a firm has an economic profit of zero, it implies the company should start looking for alternative ways to generate income.

6 0

3 years ago

Majka Company was started on January 1, Year 1. During Year 1, the company experienced the following three accounting events: (1

Norma-Jean [14]

Answer:

Majka Company

a) Accounting equation to record effects of each event:

1. Assets (Cash) increased $29,500 = Liabilities + Equity (Retained Earnings) increased $29,500.

2. Assets (Cash) decreased $13,500 = Liabilities + Equity (Retained Earnings) decreased $13,500.

3. Assets (Cash) decreased $1,800 = Liabilities + Equity (Retained Earnings) decreased $1,800.

b) Income Statement, Statement of Changes in Stockholders' Equity, and a Balance Sheet dated December 31, 2016:

1) Income Statement for the year ended December 31, 2016:

Sales $29,500

Expenses ($13,500)

Net Income $16,000

Dividend ($1,800)

Retained Earnings $14,200

2) Statement of Changes in Stockholders' Equity:

Retained Earnings b/f $0

Net Income $16,000

Dividend ($1,800)

Retained Earnings $14,200

3. Balance Sheet as at December 31, 2016:

Assets:

Cash ($29,500 - 13,500 - 1,800) $14,200

Liabilities + Equity:

Equity: Retained Earnings $14,200

c) Reason for different terminology to date income statement and balance sheet:

Income statement is prepared for an accounting period. It covers a specified period, while a balance sheet is prepared as at an accounting date. This means that one can prepare a balance sheet daily, or even after each transaction. But, an income statement covers a period of time, say a month, a quarter, or six months, or a year, as the case may be.

Explanation:

Income Statement, Changes in Equity, and the Balance Sheet are important financial statements, which a business prepares to report its financial performance (results), the changes that occur in owners' equity, and the financial position respectively.

6 0

3 years ago

Rachel's Designs has 2,000 shares of 7%, $50 par value cumulative preferred stock issued at the beginning of 2019. All remaining

loris [4]

Answer:

the dividend paid to preferred stockholders and paid to common stockholders is $21,000 and $2,000 respectively

Explanation:

The computation of the dividend paid to preferred stockholders and paid to common stockholders is shown below:

For preferred stockholders

= (2,000 × 7% × $50) × 3 years (2019,2020 and 2021)

= $7,000 × 3 years

= $21,000

And, for common stockholders

= $23,000 - $21,000

= $2,000

Hence, the dividend paid to preferred stockholders and paid to common stockholders is $21,000 and $2,000 respectively

5 0

3 years ago

One of your friends states that “operations management and supply chain management are primarily of interest to manufacturing fi

Ghella [55]

This is not true. Just because it talks about operations and supply chain, it does not mean that non-manufacturing industries are not involved. Any business with an operating system has an operations department. The supply chain will depend on the type of services or goods offered. For example, an environmental services consultancy firm is not a manufacturing company. However, it has an operations department to oversee the schedule of sampling personnel for monitoring activities. Moreover, supply chain may refer to the business development department, which is primarily concerned of acquiring more clients to give their services. In addition, equipment must also be supplied so monitoring could be possible.

8 0

3 years ago