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navik [9.2K]
2 years ago
7

Equipment costing $37,200 is purchased at the beginning of the year for cash. Depreciation on the equipment is $6,200 per year.

On June 30, the company lends its chief financial officer $42,000; principal and interest at 5% are due in one year. On October 1, the company receives $12,800 from a customer for a one-year property insurance policy. Deferred Revenue is credited. Required: Indicated by how much net income in the income statement is higher or lower if the adjustment is not recorded. (Do not round intermediate calculations.)
Business
1 answer:
mr Goodwill [35]2 years ago
3 0

Answer:

$16000

Explanation:

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Using marginal analysis to decide whether to consume an additional slice of pizza requires making a comparison of the benefits a
Sedaia [141]

Answer:

True

Explanation:

3 0
3 years ago
Harvey is considering implementing team-building management in his company. He wants to start with teams that work on the produc
Sergeu [11.5K]

Answer:

Answer is all of the above.

Explanation:

Reasons:

1) Communicating his expectations more would eventually make his team understand clearly the goal setting

2) Work on developing his emotional intelligence as william would be able to get things done even when there is crisis through his intelligence

3) Adjust his leadership styles and behaviours so as to prevent unhappiness and dissension among the employees as if he is not rigid all the time and keeps on changing his thought process as per the needs, he can for sure get things done and make others employees happy.

4 0
3 years ago
Is Flour a Natural resources
Blababa [14]

The correct answer is no.

Natural Resources are things that occur in nature that can be used for economic gain. Since flour is a processed product and does not occur in nature it is not a natural resource.

8 0
3 years ago
Read 2 more answers
Lionworks Enterprises had the following inventory data:
Kamila [148]

Answer:

The correct answer is a. $654

Explanation:

In order to calculate LIFO, which means last in first out, you have to determine the cost of your most recent inventory and multiply it by the amount of inventory sold.

In this case, the sale that was made on July 7 include 10 units purchased on July 4 and 2 units from July 1 which was the beginning inventory.

The cost of goods for the July 7 sale=(10 units × $55) + (2 units× $52) = $654

3 0
2 years ago
Suppose that the value of the short-run absolute elasticity of demand for a good is 0.38. Then, we know the long-run absolute pr
baherus [9]

Answer:

b. greater than 0.38

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

If the absolute value of elasticity of demand is less than one, it means demand is inelastic.

Demand is inelastic if a small change in price has little or no effect on quantity demanded.

If the absolute value of elasticity of demand is greater than one, it means demand is elastic.

Demand is elastic if a small change in price has a greater effect on the quantity demanded.

In the short run, demand is usually inelastic because consumers have a short time to find suitable alternatives.

But in the long run demand becomes more elastic because consumers would have more time to find suitable alternatives.

So, in the long run the absolute value of elasticity of demand would be greater than 0.38. this indicates that demand is more elastic than in the short run.

I hope my answer helps you

3 0
3 years ago
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