1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vredina [299]
3 years ago
15

Lisi Crichton operates a variety store. Her brother does custom welding and made some racks to hold videos. Lisi gave her brothe

r $5,000 cash and did not get a bill. A similar rack was on display at a department store for $1,000. You are told to book an expense on the company financial statement for $5000. What will you book the amount for?
Business
1 answer:
Feliz [49]3 years ago
8 0

Answer:

$1,000

Explanation:

Fixed assets must be recorded at historic cost or purchase value. Their valuation is not affected by changes in market values, e.g. land might appreciate over time, but its historic cost will be used for accounting purposes.

In this case, Lisi doesn't have a bill to show the price of the rack, and since she paid in cash, she has no way of proving what she actually paid for it. In this case, in order to record the purchase of the rack you must use the fair market value of similar racks.

Imagine if someone could just say that they purchased things at X price but didn't get a bill, soon people would be recording buying pencils at $500 each because they are gorgeous and perfectly crafted.

You might be interested in
1. Las cuentas con saldo deudor se producen cuando:
poizon [28]

Answer:

日本語のキーボード

Explanation:

4 0
3 years ago
Three things that Improve human capital
elixir [45]
Three ways to improve human capital are education and training, monitoring performance, and hiring qualified people.
6 0
3 years ago
What does the IS curve​ show? A. It shows equilibrium points in the goods marketlong dashthe combinations of the real interest r
Mariana [72]

Answer:

Option (A) is correct.

Explanation:

Investment spending curve refers to the curve shows various combination of real interest rate and the equilibrium output. There is a negative relationship between the real interest rate and output which means that an increase in the real interest rate will reduce the output of an economy and if there is a fall in the real interest rate then as a result there is an increase in the output.

7 0
3 years ago
In the traditional advertising model, advertisers were charged using a __________ approach, which charged for the exposures to a
kkurt [141]

Answer:

The correct answers that fills the gaps are: Cost per Thousand; Cost per Click.

Explanation:

Cost per Click (CPC), Cost per Thousand Impressions (CPM) and Cost per Acquisition (CPA) are collection methods used by digital media platforms. The CPC is calculated based on the number of clicks on the ads, the CPM for impressions, and the CPA for the number of conversions.

CPM, or Cost per thousand impressions, is a metric that represents the cost generated per thousand impressions of the ad. Obviously they are not literal impressions, but the number of times that certain advertising was displayed to the public on the internet.

By choosing CPM as a form of payment, the advertiser agrees to pay the publisher of the ad a pre-determined amount for every thousand impressions. This means that the publisher receives compensation for each ad shown, having more predictability of profit.

The cost per click is a form of payment of paid advertisements in which for a number of clicks made the payment is made. That is, the advertiser pays for visitors who access the site where the ad was made for their site.

3 0
2 years ago
We say that the demand for labor is a derived demand because Multiple Choice labor is a necessary input in the production of eve
kirza4 [7]

Answer:

The correct answer is: we demand the product that labor helps produce rather than labor service per se.

Explanation:

The demand for inputs of production such as labor is called derived demand. This is because their demand is derived from the demand for goods that they are used to produce.

These inputs are used in the process of production.  The derived demand affects the price of derived goods.

7 0
3 years ago
Other questions:
  • What is the approximate maximum hardness value in rockwell units that steel can attain?
    12·1 answer
  • The discount rate assigned to an individual project should be based on: Group of answer choices the firm's weighted average cost
    13·1 answer
  • Compute the 2019 Federal income tax liability and the marginal and effective tax rates in each of the following independent case
    5·1 answer
  • Phillip and Naydeen Rivers are married with two dependent children. The family has household income of $39,360 in 2018. They pai
    6·1 answer
  • Why must real options have positive​ value? ​(Select all the choices that​ apply.)
    6·1 answer
  • A candy company called Hearts Aflame Inc. forms an agreement with
    5·1 answer
  • What are Mormons?<br> (I just want to know what people think)
    10·2 answers
  • The clerical and editorial employees in a publishing house need to be at their desks by 8:00 AM and follow a set of precise proc
    15·1 answer
  • Your job includes ordering phone service for new employees. You are considering two phone plans. The first plan charges $23.35 p
    5·1 answer
  • A(n) _____ strategy is appealing because it attracts two distinct market segments: those who are not price sensitive along with
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!