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3 years ago

For each transaction indicate whether each account would be classified in the balance sheet as an asset

Business

1 answer:

oksano4ka [1.4K]3 years ago

6 0

Answer:

I'm not at this level

Explanation:

Note: I'm really sorry if I didn't answer this. I am just doing a challenge and earning points. Sorry

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Lyons Company deducts insurance expense of $210,000 for tax purposes in 2018, but the expense is not yet recognized for accounti

djyliett [7]

Answer:

The total income tax expense for 2019 =152.000. Is not available in the options given by the exercise.

Explanation:

Tax on insurance expense deductible for accounting purposes in 2019= 70000*40%=28.000

Income tax expense for 2019 = 180.000-28.000=152.000

4 0

3 years ago

You are analyzing two companies that manufacture electronic toys – Like Games Inc. and Our Play Inc. Like Games was launched eig

frosja888 [35]

Answer:

A LOW days of sales outstanding represents an efficient credit and collection policy. Between the two companies, Like Games is collecting cash from its customers faster than Our Play, but both companies are collecting their receivables less quickly that the industry average. (5.51 days)

Our Play’s fixed assets turnover ratio is lower than that of Like Games. This could be because Our Play is a relatively new company, so the acquisition cost of its fixed assets is higher than the recorded cost of Like Games’s net fixed assets.

Like Games’s total assets turnover ratio is 1.05x, which is lower than the industry’s average total assets turnover ratio. In general, a higher total assets turnover ratio indicates greater efficiency.

Explanation:

DSO

Like Game 365 / (100,000 / 2,700) = 9.855

Our Play 365 / (100,000 / 3,900) = 14.235

Average 365 / (255,000/3,850) = 5.510

Fixed assets turnover:

LG 100,000 /55,000 = 1.82

100,000 / 95,000 ) = 1.052

average 255,000 / 234,600 = 1.087

OP 80,000 /55,000 = 1.45

Avg 255,000 / 216,750 = 1.18

4 0

3 years ago

Discuss how dollar-cost-averaging and the ten percent solution could make someone wealthy

labwork [276]

Dollar cost averaging is an investment technique which can make a person wealthy in the long run. In this technique, you will buy a particular stock constantly and regularly, regardless of the price. This will add-up and without noticing, you have acquired more than you'd imagine. On the other hand, Ten Percent Solution, you invest 10% of your earnings in a long-term investment, and is done on a regular basis.

6 0

3 years ago

A country has been in existence for only two years.

ozzi

Answer:

-1.0 million

Explanation:

the debt issued in the second year is equal to the sum of the excess of revenues over outlays

in year 1, debt = $1.0 million - $1.5 million = $-0.5 million

In year 2, debt = $1.5 million - $2.0 million = $-0.5 million

$-0.5 million + $-0.5 million = -1.0 million

4 0

3 years ago

Assume that the economy grows by 3 percent, total factor productivity grows by 2 percent, and the labor force grows at 2 percent

RideAnS [48]

Answer:

correct option is A. True

Explanation:

given data

economy grows = 3 percent

total factor productivity grows = 2 percent

labor force grows = 2 percent

labor contributes = 40 percent

stock of capital rise = 0.33 percent

solution

we apply here Economy growth % formula that is

Economy growth % = total factor productivity + labor contributes × labor force grows + ( 1- labor contributes ) stock of capital .............1

put here value

3% = 2% + 40% (2%) + 60% C

3% = 2.8 + 0.6 × C

C = $\frac{0.2}{0.6}$

C = 33.33 %

so given statement is true

3 0

3 years ago