Answer:
a. Cash payment (or an obligation to pay cash) occurs before the expense recognition.
Explanation:
Prepayments are amounts paid to a business before goods or services are received. This means that a prepayment is the payment of an obligation, bill, or expense before its due date, which is therefore, also before the expense recognition.
The correct answer is alternative a. Cash payment (or an obligation to pay cash) occurs before the expense recognition.
Answer:
A
Explanation:
You should include all income and expenses because you need to know the value of the business and the amount of money you'll have to spend after you have deducted all the expenses and added all the incomes of the business.
Answer:
Direct labor cost = (units produced for May) x 0.75 x $6.50
Explanation:
Direct labor cost = units produced x direct labor hours x cost per unit
since units produced aren't given
Let units produced = 10,000 for May
Direct labor cost = 10,000 x 0.75 x $6.50 = <u>$48,750</u>
That is false. You must be able to hear well in order to drive successfully. If you are unable to hear well you won't be able to hear if police officers or any emergency vehicle is coming up behind you.
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Answer: $0
Explanation:
Fron the question, we are informed that Patterson Co.’s Depreciation Expense is $20,200 and the beginning and ending accumulated depreciation balances are $150,100 and $155,100, respectively.
The cash paid for depreciation will be $0. It should be noted that depreciation has to do with the ear and tear of an asset because its usage therefore no cash will be paid for depreciation.