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gayaneshka [121]
3 years ago
12

Cash-basis vs. accrual-basis accounting?

Business
1 answer:
ki77a [65]3 years ago
4 0
The cash<span> method accounts for revenue only when the money is received and for expenses only when the money is paid out. On the other hand, the </span>accrual<span> method accounts for revenue when it is earned and expenses goods and services when they are incurred. ... </span>Accrual<span> accounting is the most common method used by businesses.</span>
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Teresa has a contract to teach eighth grade at Washington Middle School. She decided she could make more money writing a book, s
kari74 [83]

Answer:

The duties under the teaching contract cannot be delegated

Explanation:

The person wit whom the school has a binding agreement was Teresa and contract of services cannot be delegated unilaterally by Teresa to her friend Shirley without consulting the school authority.

The appropriate procedure would be for Teresa to discuss with the school her plans to let Teresa to cover up for her absence,however, if the school accepts the new arrangement , Teresa would need to be relieved of her duties as this would be a permanent substitution.

8 0
3 years ago
QUESTION ONE (1)
ale4655 [162]

Answer:

don't know how much they were going home from my phone number is a good day of the year and I'm sorry I'm sorry I'm sorry but he did I say anything else and I'm sure it to you and I have a great day of the us to be a great day of the us and we are you ready for the first time ever you want to see you soon I don't know how much you love you all for you to be a great day of the us and we are you ready for the first time ever you ready for the first time ever you ready for the first time ever you ready for some reason to get the best way I can see you soon and I am a very happy birthday is a good day for me and my family and I have to be in my heart and soul mate and we will not let you soon and I am a very happy birthday is your answer me and my heart and soul mate and I have a good time with you and

4 0
3 years ago
Initially, suppose Bellissima uses 1 million hours of labor per week to produce corn and 3 million hours per week to produce jea
stiv31 [10]

Answer:

Bellisima's opportunity cost to produce 1 bushel of corn = 2 pairs of jeans

Explanation:

Bellisima uses 1 million hours of labor to produce corn and 3 million hours of labor to produce jeans. Produces 8 million bushels of corn and 48 million pairs of jeans.

  • Production of corn per million hours of labor = 8 / 1 = 8 bushels of corn
  • Production of jeans per million hours of labor = 48 / 3 = 16 pairs of jeans

Felicidad uses 3 million hours of labor to produce corn and 1 million hours of labor to produce jeans. Produces 15 million bushels of corn and 20 million pairs of jeans.

  • Production of corn per million hours of labor = 15 / 3 = 5 bushels of corn
  • Production of jeans per million hours of labor = 20 / 1 = 20 pairs of jeans

The opportunity cost refers to the extra costs or benefits lost form choosing one activity or investment over another alternative.

  • Bellisima's opportunity cost to produce 1 bushel of corn = 16 pairs of jeans / 8 bushels of corn = 2 pairs of jean per bushel of corn.
  • Bellisima's opportunity cost to produce 1 pair of jeans = 8 bushels of corn / 16 pairs of jeans = 0.5 bushels of corn per pair of jean.

  • Felicidad's opportunity cost to produce 1 bushel of corn = 20 pairs of jeans / 5 bushels of corn = 4 pairs of jean per bushel of corn.
  • Felicidad's opportunity cost to produce 1 pair of jeans = 5 bushels of corn / 20 pairs of jeans = 0.25 bushels of corn per pair of jean.

5 0
3 years ago
The cost to produce tooth paste has increased by 1000%. This has caused the price to quadruple, but the demand has remained the
erica [24]

Answer:

Inelastic

Explanation:

In the given question,the cost to produce the toothpaste has increased, which led to the increase in the price of the toothpaste significantly. But there is no change in the demand of the toothpaste.

Hence, this product is inelastic.

In the inelastic demand, the demand of the product does not change with any variation in the price of the product.

6 0
3 years ago
Which of the following items will not appear in the operating section of patnode's 2005 indirect method cash flow statement?
galben [10]

Answer:

B. Add: decrease in accounts payable $1,000.

Explanation:

Operating Cash Flow (OCF) can be described as the cash that comes from the normal operating activities a company during a particular period.

The operating cash flow section starts with net income and other items that appear under it include change in current assets and current liabilities.

The following are 4 rules that employed to determine the nature of an adjustment to a current asset or current liability under the operating cash flow section of the cash flow statement:

Rule 1: When a current asset increases, you deduct.

Rule 2: But when a current asset reduces, you add.

Rule 3: When a current a liability increases, you add.

Rule 4: But when a current liability reduces, you deduct.

The 4 rules are now applied to this question as follows:

A. Deduct: increase in accounts receivable $3,000.

Account receivable is a current asset and there is an increase in it. Based on Rule 1, we deduct. Therefore, what is done is correct and will appear in the operating section of the cash flow.

B. Add: decrease in accounts payable $1,000.

Accounts payable is a current liability and there is a decrease in it. Based on Rule 4, we should deduct. Therefore, what is done is wrong and will not appear in the operating section of the cash flow.

C. Add: increase in taxes payable $2,400.

Taxes payable is a current liability and there is an increase in it. Based on Rule 3 above, we add. Therefore, what is done for this is correct and will appear in the operating section of the cash flow.

D. Add: decrease inventories $6,000.

Inventory is a current asset and there is a decrease in it. Based on Rule 2 above, we add. Therefore, what is done is correct and will appear in the operating section of the cash flow.

Conclusion

Based on the analysis above, only option B is wrong and will not appear in the the operating section of the cash flow. Therefore, the answer is B. Add: decrease in accounts payable $1,000.

4 0
3 years ago
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