All categories

3 years ago

The following expenditures relating to plant assets were made by Glenn Company during the first 2 months of 2014.

Business

1 answer:

Nutka1998 [239]3 years ago

5 0

Answer:

1. LAND

All expenses that went into the preparation of a fixed assets such as land to make it available for use should be capitalized and this includes taxes.

2. EQUIPMENT.

As explained above, the expense here was incurred trying to get the machinery to be available for use so it should be capitalized.

3. EQUIPMENT.

The same logic as the above stands here as well.

4. LAND IMPROVEMENTS.

This expense does not fall under the primary purpose for which the site was acquired but is still an improvement so even though it will not be capitalized to land, it goes to Land Improvements.

5. EQUIPMENT.

The name and slogan are part of the preparation of the vehicle for use so need to be capitalized.

6. EQUIPMENT.

Installation costs are to be capitalized because they are necessary to ge the asset working.

7. PREPAID INSURANCE.

Period costs (costs that provide benefits for a year or less) are to be expensed and not capitalized which is why this is posted to prepaid insurance.

8. LICENSE EXPENSE.

Licenses typically last a year so this is a period cost that should be expensed.

You might be interested in

Explain how a country could have a deficit on its primary income but a current account surplus. 4 marks

Tatiana [17]

<h2>The following are the reasons for how a country could have a deficit on its primary income but a current account surplus:</h2>

The identified and associated sources of primary income would be different than the sources of financial activities that reflect their collection in the current account.
The expenses on developmental activities could be drawn from the primary account rather than drawing them directly from the current account.
There could be diversions of funds to manage the accounts in order to earn interest on them.

7 0

4 years ago

Senior managers engage in ______ when they structure the organizational relationships to work cooperatively to achieve goals.

Nikitich [7]

The thing which senior managers engage in when they structure the organizational relationships to work cooperatively to achieve goals is:

Efficiency and Effectiveness.

<h3>What is Efficiency?</h3>

This refers to the ability to perform a task or tasks quickly, accurately and with minimal error.

With this in mind, we can see that when senior managers prioritize <em>efficiency and effectiveness</em> in their organizational structure, then they would easily accomplish goals.

Read more about efficiency here:
brainly.com/question/15418098

4 0

2 years ago

Valuable skills and knowledge that employees possess is called

blagie [28]

Answer: "intellectual capital" .
_________________________________________________

8 0

3 years ago

During the current year, Harold Company sold inventory costing $350,000 for a selling price of $675,000. Beginning balances of i

Len [333]

Answer: $351,000

Explanation:

Given that,

Cost of inventory = $350,000

Selling price = $675,000

Beginning balance of inventory = $86,000

Beginning balance of accounts payable = $116,000

ending balance of inventory = $94,000

ending balance of accounts payable = $123,000

Cash paid to suppliers:

= Cost of Goods Sold + Change in inventory - Change in accounts payable

= 350,000 + (94,000-86,000) - (123,000-116,000)

= 350,000 + 8,000 - 7,000

= $351,000

6 0

3 years ago

Petnro, a bike manufacturing firm based in the U.S., operates bike manufacturing plants in China, Japan, Taiwan, and Singapore u

Hunter-Best [27]

Answer:

The methods for conducting global business which petnro has used in the given scenario is :

C) The formation of wholly owned affiliates

Explanation:

In the question it has been mentioned that their is a bike manufacturing firm which is based in u.s. and operates in various other countries under a different name i.e. BikMe.

So, the scenario is like the parent company is receiving all the profits which have been made by all these facilities and also controls different segments of the plants.

Therefore,the methods for conducting global business which petnro has used in the given scenario is :

C) The formation of wholly owned affiliates

Role of global marketing in international business:

A development in the global marketing strategy helps in growing of a business. Marketing globally is the first way to improving your company globally all over the market.

Another benefit is that the customer awareness increases.

Global strategy example : Any company who is delivering the same quality and variety of product is known as the global strategy.

For example: Gucci delivers all its products globally in different countries.

As for example the company here mentioned is also developing its global strategy.

7 0

3 years ago