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Andrej [43]
2 years ago
12

Last year Attic charged $2,334,667 Depreciation on the Income Statement of Andrews. If early this year Attic purchased a new dep

reciable asset, the effect on Andrews's financial statements would be (all other items remaining equal):
Business
1 answer:
olga nikolaevna [1]2 years ago
6 0

Answer:

Note: The correct option is a. Increase Net Cash from operations.

Explanation:

Note: This question is not complete as the options are omitted. The options are therefore provided to complete the question before answering the question as follows:

a. Increase Net Cash from operations

b. Decrease Net Cash from operations on the Cash Flow Statement

c. No impact on Net Cash from operations

d. Just impact the Balance Sheet

The explanation of the answers is now provided as follows:

Since the assets was purchased early in the year, depreciation will be charged on it in the income statement for the year at the end of the year. Since depreciation is a non-cash item, it will added back to the net income in the indirect Cash Flow Statement method as one of the adjustments to the net income under the Cash from operations. This adding back of the depreciation will therefore lead to an Increase Net Cash from operations.

Therefore, the correct option is a. Increase Net Cash from operations.

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Two stockbrokers, in clear violation of the rules of their employer, sold worthless stocks to unsuspecting customers. There was
ZanzabumX [31]

Answer: Yes they did.

Explanation:

Apparent Authority refers to a scenario where a Agent is assumed to have the power to act on behalf of a Principal regardless of if said authority had not being expressly given whether implicitly or otherwise.

It is worthy of note that this power is only valid if the third party in the transaction assumes from the conduct of the agent, that they have such powers to act.

It is stated in the text that there was no question that the brokers had the actual or implied authority to sell the stock meaning that the Principal had not done enough to show that the agents did not have the Authority to act as they did. For this reason, they can indeed be sued under the Principle of Apparent Authority.

7 0
2 years ago
Your reference price will become more accurate and reflect real prices whena.) you have consulted your friends, family and colle
11Alexandr11 [23.1K]

Answer:

The correct answer is letter "D": you have experience related to the product.

Explanation:

The reference price is the price buyers are willing to pay for a given good or service based on different features of the product such as quality, availability and the type of need it satisfies compared to what competitors can offer.  

<em>The real price of the product is considered adding the value individuals can provide to the good or service based on the interaction they have had with similar items</em>. Quality information might influence the reference price to be set.

7 0
2 years ago
The expense that a manufacturing firm Incurs in the form of wages to its labor falls under the category of Reset Next​
Korolek [52]

Answer:

Cost of Goods Sold( COGS)

Explanation:

Costs of goods sold ( COGS)or cost of sales is the expense incurred in manufacturing goods sold in a period. COGS is composed of the direct cost incurred in manufacturing goods sold by a business. The direct cost includes direct materials, labor, and direct overhead costs. Direct labor is the total of wages and salaries paid to workers involved directly in the production process.

Calculation of the cost of goods sold involves adding beginning inventory to purchases and subtracting the ending inventory.

5 0
3 years ago
Debts owed by a business are called __________. revenues liabilities equities assets
love history [14]
It is called liabilities. A liability is an organization's money related obligation or commitments that emerge over the span of its business operations. Liabilities are settled after some time through the exchange of financial advantages including cash, merchandise or administrations. Recorded on the correct side of the monetary record, liabilities incorporate credits, creditor liabilities, contracts, conceded incomes and accumulated costs.
7 0
3 years ago
g Miller Brooks is planning to purchase a new mobile phone plan. However, she is not sure about which plan to select. The regula
yulyashka [42]

Answer:

The platinum plan should be selected.

Explanation:

This can be determined using the following 4 steps:

Step 1: Calculation of the total expected minutes in a month

Total number of expected minutes in a month = Number of hours Miller is expected to use her phone per month * Numbe of minutes in one hour = 21 hour * 60 minutes = 1,260 minute

Step 2: Calculation of the expected cost of regular plan

Expected fixed cost of 1,000 minutes per months = $55

Expected cost of  minutes over 1,000 minutes = (Total number of expected minutes in a month - 1,000 minutes) * Cost per minute = (1,260 - 1,000) * $0.33 = 260 * $0.33 = $85.80

Expected cost of regular plan = Expected fixed cost of 1,000 minutes per months + Expected cost of  minutes over 1,000 minutes = $55 + $85.80 = $140.80

Step 3: Calculation of the expected cost of platinum plan

Expected fixed cost of 1,200 minutes per months = $100

Expected cost of  minutes over 1,200 minutes = (Total number of expected minutes in a month - 1,200 minutes) * Cost per minute = (1,260 - 1,200) * $0.25 = 60 * $0.25 = $15

Expected cost of platinum plan = Expected fixed cost of 1,200 minutes per months + Expected cost of  minutes over 1,200 minutes = $100 + $15 = $115

Step 4: Decision

Expected cost of regular plan = $140.80

Expected cost of platinum plan = $115

Since the expected cost of platinum plan of $115 is lower than the expected cost of regular plan of $140.80, the platinum plan should be selected.

5 0
2 years ago
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