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Archy [21]
3 years ago
12

Its me guys I'm sorry I lied​

Business
1 answer:
antiseptic1488 [7]3 years ago
5 0
To my knowledge I’m clarifying it’s James Charles
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In 2021, it was discovered that Hines 55 had debited expense for the full cost of an asset purchased on January 1, 2018. The cos
Brut [27]

Answer:

A) A credit to accumulated depreciation of $14.4 Million

Explanation:

The complete journal entry should be:

  • Dr Asset XXX account 24,000,000
  • Cr Accumulated Depreciation account 14,400,000
  • Cr Retained Earnings account 9,600,000

First of all the asset must be recorded at full value.

Accumulated depreciation would be credited for 3 years = ($24 / 5) x 3 = $4.8 x = $14.4

Since the depreciation expense lowered the net profits during 2018, the retained earnings must be adjusted for the remaining value = $24 - $14.4 = $9.8

5 0
3 years ago
When countries specialize in producing certain goods and then freely exchange those goods for other goods with different countri
GaryK [48]

Answer:

The correct answer is: Each country can consume at a point outside their production possibilities frontier.

Explanation:

A country is said to be specializing in the production of a good if it can produce the good at a lower opportunity cost. When countries produce the good they specialize in producing and trade with other countries. All the countries will be able to consume more.

The countries will produce on its production possibilities frontier at the intercept of the good they specialize in and consume at a point outside their production possibility frontier.

4 0
3 years ago
Standard costs have which of the following characteristics? (Check all that apply.)
Minchanka [31]

Answer:

The following Apply :

A. Based on past experience and data Developed by the SCAB (Standard Cost Accounting Board

B. Used in preparing flexible budgets Useful for manufacturing companies, but not service companies

Explanation:

Standard Cost set levels of Costs and Revenues that ought to be achievable when reasonable levels of performance are attained together with working practices to manufacture a product.

Data is obtained from past experience and used to prepared flexible budgets for control purposes.

7 0
3 years ago
You observe the following information regarding Companies X and Y: ∙ Company X has a higher expected return than Company Y. ∙ Co
irina1246 [14]

Answer:

Option D is correct one.

Company X has a lower coefficient of variation than Company Y.

Explanation:

This is because company X has a lower standard deviation of returns than Company Y. Coefficient of variation = standard deviation/mean*100. Also mean of X will be higher as its expected return is higher than Y. So, the numerator (standard deviation) is lower and denominator (mean) is higher in case of X. This will lower its coefficient of variation than Company Y.

4 0
3 years ago
1. What does reconciling an account involve?
kondaur [170]

1. The answer is<u> "A. checking one's financial records against the bank’s".</u>


Reconciling an account frequently implies demonstrating or reporting that a record balance is right. For instance, we accommodate the parity in the general record account Cash in Checking to the equalization appeared on the bank articulation. The goal is to report the right sum in the general record account Cash in Checking. You will regularly need to modify the general record account balance for things showing up on the bank explanation that were not entered in the general record account.  


2. The answer is <u>"b. They last for a set period of time".</u>


A certificate of deposit (CD) is a funds declaration with a settled development date and indicated settled financing cost that can be issued in any category beside least venture necessities. A CD confines access to the assets until the point that the development date of the venture. Certificates of deposit are for the most part issued by commercial banks and are protected by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per person.  


5 0
3 years ago
Read 2 more answers
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