Answer:
a) $14,600.
Explanation:
The computation of the company total assets are shown below:
= Cash balance + supplies balance + equipment balance
where,
Cash balance = investment amount + borrowed amount - paid amount for equipment
= $6,200 + $3,200 - $2,120
= $7,280
And, the other item values would remain the same
Now put these values to the above formula
So, the value would equal to
= $7,280 + $1,120 + $6,200
= $14,600
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The company uses up $5,000 of an existing asset and the company adjusts its accounts accordingly. This is an example of a deferral adjustment.
It is a deferral adjustment on account that a current asset had been used up, which means its miles deferred like supplies expenses are recorded on the year stop relying upon how much resources had been used in the course of the year.
Deferrals are adjusting entries for items bought earlier and used up in the destiny (deferred fees) or whilst coins are received in advance and earned inside the future (deferred sales).
The primary distinction between accrual and a deferral is that accrual is used to deliver forward an accounting transaction into the current period for recognition, whilst a deferral is used to put off such popularity until a later length.
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Answer:
False
Explanation:
Balance sheets relate to balance and expenditure over a period.
Answer:
differentiated products.
Explanation:
An oligopoly occurs when a few large firms dominate a market and they aim to maximise profit. The action of one firm has significant effect on the market, so the firm's are interdependent.
There are high barriers to entry including use of government liscences, patents, economies of scale, and actions taken by firms to discourage entry into the market.
However differentiation of products is not a necessary condition for oligopoly. Products can be homogenous or differentiated.
