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Sauron [17]
3 years ago
14

Batterton prepaid a two full​ years' insurance on December 1 of the current​ year, $6,960. Record insurance expense for the year

ended December 31.
Business
1 answer:
mezya [45]3 years ago
4 0

Answer:

A y a good time for me is that

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Select the correct answer.
PolarNik [594]

Answer:

Elena wants to open a Chinese restaurant near a university. She has the required capital to start her restaurant. However, she is unable to find  

good chefs for her restaurant. Which type of resource is Elena lacking?  

Elena is lacking Labor resource.  

Explanation:  

The Labor resource is the term related with the people needed for running the operation of a business. In this case Elena has the need for the chefs that will help you with the elaboration of the dishes that she wants to offer.  

A business usually needs the following type of resources: labor, capital and land.  

As we said previously Labor is the resource related to people.  

Land is the resource related to the physical space where you want to set up your business. e.g store, online site, offices, building and so on.  

Capital is the resource related to the money or financial investment needed to cover the initial launching costs.  

7 0
3 years ago
Identify the statement that is incorrect. Multiple Choice Higher financial leverage involves higher risk. Risk is higher if a co
Irina-Kira [14]

Answer:

Risk is higher if a company has more assets.

Explanation:

All of the following statements are true and correct;

1. Higher financial leverage involves higher risk.

2. Risk is higher if a company has more liabilities.

3. The debt ratio is one measure of financial risk.

4. Lower financial leverage involves lower risk.

However, it is false and an absolutely incorrect to say risk is higher if a company has more assets.

A company having more assets would have a debt ratio less than one (1) because it has many assets to fund it's business. Thus, the company would have little or no debts and as such, it's risk portfolio is very low.

Hence, risk is lower if a company has more assets.  

8 0
3 years ago
During the current year, Swallow Corporation, a calendar year C corporation, has the following transactions. Income from operati
Free_Kalibri [48]

Answer:

a. Taxable Income = $42,000

b. Taxable Income = $28,000

Explanation:

Given

Income from operations $660,000

Expenses from operations $760,000

Dividends received from Brown Corporation $240,000

a.

Taxable Income is calculated

Dividend received + Income from operations - Expenses from Operations

Taxable Income = $240,000 + $660,000 - $760,000

Taxable Income = $140,000

Swallow Corp owns 12% of Browns Corporation stock;

And 12% is not up to 20% owned by Browns Corporation.

So. The Dividend Received is 70% of $140,000

Dividend = $98,000

Taxable Income = $140,000 - $98,000

Taxable Income = $42,000

b.

Dividend Received + Taxable Income (ii) = Taxable Income (i)

Where Taxable Income (I) = $140,000

Calculating Dividend

Dividend = 80% of $140,000

Dividend = $112,000

Taxable Income = $140,000 - $112,000

Taxable Income = $28,000

.

8 0
2 years ago
Mary Walker, president of Rusco Company, considers $23,000 to be the minimum cash balance for operating purposes. As can be seen
scoundrel [369]

Answer:

Cash Basis adjustments -12,000

Explanation:

Adjustments to convert company's income statement to cash basis:

Depreciation Expense $20,000

Gain on sale of long term Investment - $ 10,000

Loss on sale of equipment $2,000

Increase in Account receivable -$40,000

Decrease in Prepaid Expense $4,000

Increase in Inventory -$50,000

Increase in Accounts Payable $63,000

Decrease in Accrued Liability -$9,000

Increase in Deferred Tax Payable $8,000

6 0
3 years ago
Critics of government intervention in the economy are most likely to emphasize government’s effect on—
Dmitry_Shevchenko [17]

Answer:

Critics of government intervention in the economy are most likely to emphasize government’s effect on the provision of vital services

Explanation:

When government provides vital services, infrastructures it limits critics and this enables the masses to feel the impact of government's intervention

3 0
3 years ago
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