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Stella [2.4K]
3 years ago
14

The _____ principle holds that when industrial activity poses a risk, even if the threat is as yet poorly understood, prudence c

alls for restraint.
Business
1 answer:
Nikitich [7]3 years ago
4 0

<span>It is a precautionary principle when industrial activity poses a risk, even if the threat is as yet poorly understood, prudence calls for restraint. set of methods and procedures for aligning corporate strategies, policies, and operations with principles that protect ecosystems. </span>

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In the Month of March, Baldwin received orders of 101 units at a price of $15.00 for their product Bill. Baldwin uses the accrua
Delvig [45]

Answer:

d) 0, $1,515

Explanation:

total sales revenue = 101 units x $15 per unit = $1,515

since the goods were delivered in April, the sales revenue must be recorded in April, not March (when the orders and advanced payments were received), nor May (when the invoices were paid in full).

The accrual accounting system states that revenues and costs must be recognized during the periods when they actually occur and not when the sales are collected or expenses are paid.

The journal entries to record this sales would be:

March, order for 101 units is received:

Dr Cash 757.50

    Cr Unearned revenue 757,50

April, the goods are delivered:

Dr Unearned revenue 757.50

Dr Accounts receivable 757.50

    Cr Sales revenue 1,515

May, the invoice is paid in full:

Dr Cash 757.50

    Cr Accounts receivable 757.50

3 0
4 years ago
What helpful information can you find at a company or distributor website
const2013 [10]
C.) how to research in design your own business
6 0
4 years ago
Read 2 more answers
Joe is an accountant and plans to join a group of accountants. he compares a group in a general partnership with a group in a li
Tatiana [17]
The thing that would interest him the most and is an advantage is that if one partner were to make a mistake, he would not be held accountable for it. Unlike the general partnership where everyone gets equal blame for the downfall of a company, in limited liability it is known what falls under whose jurisdiction and if someone causes the company to go bankrupt, the ones whose fault it's not can't get sued.
8 0
3 years ago
Michael operates his health food store as a sole proprietorship out of a building he owns. Based on the following information re
Elina [12.6K]

Answer:

c. $31000

Explanation:

Net self-employment income are gross income gotten from a trade or business, less allowable deductions attributable to the trade or business. When calculating self employment income, capital gains and losses, contributions for retirement, net operating losses are not considered.

Given that:

Gross receipts                                           $100,000

Cost of goods sold                                    $49,000

Utilities                                                        $6,000

Real estate taxes                                        $1,000

Depreciation expense                               $5,000

Sec. 179 expense                                       $1,000

Mortgage interest                                       $7,000

Net self-employment income = Gross receipts  - Cost of goods sold  - Utilities - Real estate taxes - Depreciation expense - Sec 179 expense - Mort-age interest

Therefore, Net self-employment income = $100000 - $49000 - $6000 - $1000 - $5000 - $1000 - $7000 = $31000

5 0
3 years ago
For each of the following situations, identify (1) the case as either (a) a present or a future value and (b) a single amount or
taurus [48]

Answer:

a. The present value of a future value of $10,000 is $7,310.

b. The present value of an annuity for a future value of $10,000 is $1,043.54.

c. Yes, you will retire with $1,036,226.07 .

Explanation:

a) Data and Calculations:

Future value = $10,000

Interest - 8% compounded semiannually

Period of investment = 4 years

Using the present value table, the discount factor of 0.731, the future value of $10,000 is $7,310

b) You will need to contribute $1,043.54 at the beginning of each period to reach the future value of $10,000.00.

FV (Future Value) $10,000

PV (Present Value) $7,306.90

N (Number of Periods) 8.000

I/Y (Interest Rate) 4.000%

PMT (Periodic Payment) $1,043.54

Starting Investment $0.00

Total Principal $8,348.30

Total Interest $1,651.70

c)  $1,000,000 in 40 years:

FV (Future Value) $1,036,226.07

PV (Present Value) $47,698.45

N (Number of Periods) 40.000

I/Y (Interest Rate) 8.000%

PMT (Periodic Payment) $4,000.00

Starting Investment $0.00

Total Principal $160,000.00

Total Interest $876,226.07

5 0
3 years ago
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