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liraira [26]
3 years ago
7

Match each of the following scenarios with the accounting principle or accounting assumption that it best illustrates.a. Several

years after Thomas Company purchased new office equipment, the company’s accounting records still show the original purchase price. b. The home of Rob Elliot, the owner of GGE Enterprises Inc., is not listed among the company’s assets. c. Despite several years of falling sales, Thomas Company continues to forecast sales and make strategic plans to raise revenues and cut expenses. d. Thomas records expenses incurred to produce the sales for the month. e. GGE Enterprises records a deposit received from a customer for work to be performed later in the month. The customer is billed for the remaining amount after the work is complete, and the customer’s payment is recorded. f. Thomas Company provides earnings information to investors at the end of every quarter. g. The accounting records of Thomas Company are in dollars, not euros, although the Ohio-based company is owned by a German firm.
Business
1 answer:
Orlov [11]3 years ago
5 0

Answer:

Key S - Scenario

      A - Accounting Principle or Assumption

S

Several years after Thomas Company purchased new office equipment, the company’s accounting records still show the original purchase price.

A

Historical cost principle

S

The home of Rob Elliot, the owner of GGE Enterprises Inc., is not listed among the company’s assets.

A

Business entity assumption

S

Despite several years of falling sales, Thomas Company continues to forecast sales and make strategic plans to raise revenues and cut expenses.

A

Going concern assumption

S

Thomas records expenses incurred to produce the sales for the month.

A

Expense recognition principle

S

GGE Enterprises records a deposit received from a customer for work to be performed later in the month. The customer is billed for the remaining amount after the work is complete, and the customer’s payment is recorded.

A

Revenue recognition principle

S

Thomas Company provides earnings information to investors at the end of every quarter.

A

Time period assumption

S

The accounting records of Thomas Company are in dollars, not euros, although the Ohio-based company is owned by a German firm.

A

Monetary unit assumption

Explanation:

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Marat540 [252]

Answer:

The amount of interest expenses that Jennifer can deduct from her tax return for tax year 2019 is $100.

Explanation:

The amount of interest expenses that Jennifer can deduct from her tax return for tax year 2019 can be calculated using the following formula:

Interest expenses deductible = (Taxable interest / Total interest) * Interest expenses .................... (1)

Where;

Taxable interest = $1,200

Total interest = $6,000

Interest expenses = $500

Substituting the values into equation (1), we have:

Interest expenses deductible = ($1,200 / $6,000) * $500

Interest expenses deductible = 0.20 * $500

Interest expenses deductible =$100

Therefore, the amount of interest expenses that Jennifer can deduct from her tax return for tax year 2019 is $100.

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3 years ago
You currently purchase a part used in your production process from an outside supplier, and have decided to begin making this pa
KIM [24]

Answer:

At an annual requirement of 40,000 units, selecting the low-cost option will save the company per year:

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a) Data and Calculations:

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Special-Purpose Equipment     $200,000 per year      $15 per unit

General-Purpose Equipment     $50,000 per year     $20 per unit

Total Cost of Production for 40,000 units under the two alternatives:

ALTERNATIVE       FIXED COST    VARIABLE COST         TOTAL  COSTS

Special-Purpose   $200,000      $600,000 ($15*40,000)    $800,000

General-Purpose     $50,000    $800,000 ($20*40,000)   $850,000

b) The difference between the two alternatives in total costs is $50,000 ($850,000 - $800,000) with the low-cost alternative as the Special-Purpose Equipment.

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3 years ago
You need to announce two promotions. Which of these options would most likely be both efficient and effective
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The correct option are B and D.

B. Send an email to everyone in the unit

D. Announce the promotions at a meeting

These options would most likely be both efficient and effective for promotions in the firm for employee.

<h3>What is communication skills?</h3>

People with good communication skills can understand others and be understood. These skills need a variety of skills, including listening, communicating, watching, and having empathy.

Communication is "an apparent response to the unpleasant divides between self and other, private and public, and inner thought and outer world,

<h3>What are the 7 types of business communication?</h3>

We have detailed the benefits and drawbacks of each style of corporate communication, as well as suggestions for effective communication in each situation.

  • Upward communication.
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I understand that the question you are looking for is:

Communication skills refer to a manager’s ability to effectively convey ideas and information to others and to effectively receive ideas and information from others. This exercise focuses on communication skills as they involve deciding how to best convey information to others.

Exercise Background

Assume that you are a middle manager for a large electronics firm. People in your organization generally use one of three methods to communicate with one another. One common method is verbal communication, either face-to-face or by telephone. Surprisingly, people also still use a lot of written communication in the form of memos, reports, letters, and other documentation. And, of course, there is also a lot of digital communication such as email and direct messaging.

During a typical day you receive and send a variety of messages and other communication, sometimes using only a single method of communication but often using some combination of methods. The questions that follow ask you to select one or more methods that would be most effective for communicating specific kinds of information.

Use your communication skills to answer the following questions.

2) You need to announce two promotions. Which of these options would most likely be both efficient and effective? Check all that apply.

A. Announce the promotions using social media

B. Send an email to everyone in the unit

C. Announce the promotions individually to your employees as you see them

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8 0
1 year ago
You own a stock portfolio invested 30 percent in Stock Q, 25 percent in Stock R, 25 percent in Stock S, and 20 percent in Stock
Vanyuwa [196]

Answer:

The Portfolio beta is 1.1045

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The computation of the portfolio beta is given below:

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Stock Q      0.8         0.3                                   0.2400

Stock R       1.18       0.25                                  0.2950

Stock S       1.19       0.25                                  0.2975

Stock T        1.36      0.2                                    0.2720

Portfolio beta                                                  1.1045

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3 years ago
A study of donor behavior for the International Red Cross seeks to identify participation from consumers through indirect gifts
yuradex [85]

Answer: C. sensitive information

Explanation: A. precision

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C. sensitive information

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5 0
3 years ago
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