Answer:
insurance
Explanation:
a living expense that should be included in the budget when someone is going to rent an apartment should be the insurance
hope this helps
Answer:
Sweetpea have a gain of $1,000
Explanation:
When the depreciable property is sold, then the gain or loss will be computed to the extent on the difference among the selling price and the adjusted basis.
So, the adjusted basis will be
= Cost of the basis - Depreciation
= $5,000 - $2,000
= $3.000
Therefore,
Gain or Loss = Selling Price - Adjusted basis
= $4,000 - $3,000
= $1,000
Hence, it is a gain of $1,000.
Test marketing, the consumers don’t even know it’s being tested
Answer:
The answer is:
Asset will be overstated
Net income will be overstated
Explanation:
Because of the incorrect capitalization(the process of converting or adding to a firm's asset):
1. Assets are overstated. Assets that shouldn't are added to the entire assets are added. So it's increasing the company's asset whereas it's not.
2. Net income are overstated. Because depreciation too will have to be charged for the asset that wasn't there, therefore, net asset will be overstated.
Answer:
A. increases the balance of an expense account
Explanation:
The following effect can be shown through an example -
If we increase the credit portion of an adjusting entry to increase the balance of a liability account, the effect of the debit portion will be an expense.
For example -
When wages expenses incurred but not paid, at that moment, a liability will increase due to that effect. The journal entry to record that transaction is -
Wages expense Debit
Wages payable Credit
Therefore, the adjusting entry increases the liability as well as the expenses.
