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Anuta_ua [19.1K]
3 years ago
10

Prepaid expenses require what type of adjusting entry? Question options: Matched Accumulated Accrued Deferral

Business
1 answer:
yanalaym [24]3 years ago
7 0

Answer:

deferral

Explanation:

Adjusting entries are when changes are made to already recorded journal entries.

Categories of adjusting entries :

  1. accrued revenues
  2. accrued expenses
  3. unearned revenues
  4. prepaid expenses
  5. depreciation.

Prepaid expenses are payments made for services yet to be delivered.

For example, paying for a year's worth of subscription on your streaming service

Prepaid expenses is an example of deferred payment, so the adjustment should be a deferral

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Currently, I would say LEAN and Six Sigma.
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3 years ago
When a US company purchases and imports wood from Brazil to use to build new houses, within the United States, this purchase inc
Mariana [72]

Answer:

The correct answer is 2. No overall change.

Explanation:

The aggregate demand is the total goods and services demanded by a country, at a certain price level, in a certain period of time.

The aggregate demand that can be accounted for measures exactly the same as GDP. So they are often used as synonyms.

To calculate aggregate demand, the same methods as for calculating GDP can be used, however, aggregate demand is associated with expenditure, so it is calculated by the product method, that is, from the point of view of what society has spent. This calculation takes into account the expenditure of families (private individuals), what has been spent on investment, the cost of public administrations, and finally, net exports, which is the difference between imports and exports In this way, the Aggregate Demand formula would look like this:

DA = C + I + G + (X-M)

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3 years ago
Sometimes, lenders allow or require a downpayment before they extend you the loan. What would be the advantage to the lender? Wh
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3 years ago
Erica and Brett decide to form their new motorcycle business as an LLC. Each will receive an equal profits (loss) interest by co
koban [17]

Answer:

Brett's outside tax basis in his LLC interest is $45000

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A partner outside tax basis consist of basis of contributed property, partnership debt allocated to the partner without any debt relief. Non recourse debt that is more than basis of contributed property must be given to the partner that contributed to the property.

Brett's outside tax basis in his LLC interest = Cash contribution + basis of building - debt of building + Non recourse loan + non recourse mortgage + remaining mortgage on building

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Basis of building = $30000

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4 0
3 years ago
Willett Co. had the following amounts related to the sale of consignment inventory: Cost of merchandise shipped to consignee $10
photoshop1234 [79]

Answer:

Net profit: 52,500

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Sales revenue   125,000 (Only recogniced by the sold goods)

COSG                 -75,000 (Only recogniced by the sold goods)

Commission        12,500 (recognized even without being collected)

Freight cost        <u>-10,000</u> (It´s an expence of the period)  

Net Profit:            52,500

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The avertising paid for by consignee, to be reimbursed $5,000 is a liability.

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3 years ago
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