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3 years ago

Which of the following is not an example of a liability?

Business

2 answers:

algol [13]3 years ago

5 0

Answer:

Explanation:

You are renting so you are temporarily living there, unlike a home owner. They own the home meaning they are responsible for the upkeep. Renters that responsability falls upon the land lord.

finlep [7]3 years ago

3 0

D , because liability means to be responsible for something, especially by law.

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The following information is available for the year ended December 31: Beginning raw materials inventory$12,000 Raw materials pu

posledela

Answer:

Direct material used= $88,600

Explanation:

Giving the following information:

Beginning raw materials inventory$12,000

Raw materials purchase 88,000

Ending raw materials inventory 11,400

<u>To calculate the direct material used in production, we need to use the following formula:</u>

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 12,000 + 88,000 - 11,400

Direct material used= $88,600

3 0

3 years ago

Expansionary fiscal policy is so named because it

PolarNik [594]

Answer:

c. is designed to expand real GDP.

Explanation:

Expansionary fiscal policy is the policy of increasing government spending to stimulate demand and thus expand real GDP.

It is often used when the economy is in recession, where people don't spend so there is not enough demand => cut down in supply (below capacity output/GDP) => job loss => less income => even less spending (demand) and so on.

4 0

3 years ago

Bonita Industries reported the following year-end information: beginning work in process inventory, $190000; cost of goods manuf

Lunna [17]

Answer:

Bonita Industries's cost of goods sold for the year is $844,000

Explanation:

Beginning work in process inventory, $190000

Ending work in process inventory, $230000

Cost of goods manufactured, $866000

Beginning finished goods inventory, $252000

Ending finished goods inventory, $274000

Cost of Goods Sold = Beginning Finished Goods Inventory + Cost of Goods Manufactured – Ending Finished Goods Inventory

Cost of Goods Sold = $252000 + $866000 - $274000

Cost of Goods Sold = $844000

*Beginning work in process inventory and Ending work in process inventory has already been dealt in cost of goods manufactured calculations.

4 0

4 years ago

Winkler, a CPA, provided accounting services to a client, Thompson. On December 15 of the same year, Thompson gave Winkler 100 s

Lina20 [59]

Answer:

the bonds will recognize a gain for 3,500

Explanation:

The adjusted basis of the stock will be the value in Winkler books.

So selling at 7,500 will recognize gain for 3,500

6 0

3 years ago

p Marine International manufactures an aquarium pump and is trying to decide whether to produce the filter system in-house or si

navik [9.2K]

Answer:

Cost of in house production at 25000 units= $606250

Cost of outsourcing option at 25000 units= $750000

Thus, Marine international should produce the filter in house at a demand level of 25000 filters as the cost of in house production ($606250) is less than that of the outsourcing option ($750000).

Explanation:

To decide whether to outsource or not will depend on the total cost of each option incurred under certain production or demand level. The option providing the lowest total cost at that level will be chosen.

We first need to determine the cost of each option and see where the total cost for each item equates.

Cost of in house production = 300000 + 12.25x

Where, x is the number of units.

Cost of in house production = 300000 + 12.25 (25000)

Cost of in house production = $606250

Cost of outsourcing option = 30x

Cost of outsourcing option = 30 (25000)

Cost of outsourcing option = $750000

Thus, Marine international should produce the filter in house at a demand level of 25000 filters as the cost of in house production ($606250) is less than that of the outsourcing option ($750000).

5 0

3 years ago