Answer: b. pays cash before the expense has been incurred.checked
d. receives cash before the revenue has been generated
Explanation:
Here is the complete question:
Deferral adjustments are needed when the business:
a. pays cash after the expense has been incurred.unchecked
b. pays cash before the expense has been incurred.checked
c. receives cash after the revenue has been generated.unchecked
d. receives cash before the revenue has been generated.
Adjustments are made during the end of every accounting period in order to report the revenues and the expenses in proper period at which they occur and also in order to report the assets and the liabilities at their appropriate amounts.
Deferral adjustment is when the revenue or the expense has been deferred or postponed and will therefore be reported on the income statement at a later period.
Previously deferred amounts will show on the balance sheet when a company pays cash before having to incur the expense or in a case whereby the company gets and collects cash before earning the revenue.
When revenues are made or when expenses are incurred, the previously deferred amounts will have to be adjusted and then, the amounts will be transferred to income statement through the use of the deferral adjustment.
Answer:
Expense & revenue summary a/c (credit balance) = $3500
Explanation:
1. Dr Expense & revenue summary 52500
Cr Sales discount 1500
Cr Sales return & allowance 3000
Cr Depreciation expense 25000
Cr Salaries expense 23000
(Close expenses to expense & revenue summary a/c)
2. Dr Sales 56000
Cr Expense & revenue summary 56000
(Close sales to expense & revenue summary a/c)
3. Dr Expense & revenue summary a/c 3500
Cr Retained earning a/c 3500
(To close expense & revenue summary a/c)
4. Dr Retained earning 2000
Cr Expense & revenue summary 2000
(Close dividend to expense & revenue summary a/c)d
Answer:
Identify job leads and set up interviews.
Explanation:
Answer:
The cost per month is increasing at a rate $365.
Explanation:
Differentiation Formula
Given that,
A manufacturer of handcrafted wine racks has determined that the cost to produce x units per month is given by
.
Again given that,
the rate of changing production is 13 unit per month
i.e 
To find the cost per month, we need to find out the value 
when production is changing at the rate 13 units per month and the production is 70 units.
Differentiating with respect to t
Plugging
[ plugging x=70]
=364
[ The unit of c is not given. Assume that the unit of c is dollar.]
The cost per month is increasing at a rate $365.
Answer:
A. Those responsible for complying with budgets must participate in budget preparation.
Explanation:
An important rule of budgeting is those responsible for complying with budgets must participate in budget preparation.
[ where a is a constant]