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3 years ago

Adjusting entries accounting

Business

2 answers:

frozen [14]3 years ago

5 0

Answer:

How to prepare your adjusting entries

Step 1: Recording accrued revenue. ...

Step 2: Recording accrued expenses. ...

Step 3: Recording deferred revenue. ...

Step 4: Recording prepaid expenses. ...

Step 5: Recording depreciation expenses.

sashaice [31]3 years ago

3 0

Answer:

$882 { { > < {9529 { { {?}^{2} }^{ + 222222 = 52.11 = 39.662332} }^{?} }^{2} }^{2} }^{?}$

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If demand is linear with a negative slope, then price elasticity of demand is A. Elastic in the upper portion and inelastic in t

tigry1 [53]

Answer:

<h2>In the case of a linear downward sloping demand curve,the price elasticity of demand is elastic in the upper portion and increasingly inelastic in the lower portion.Hence,the answer in this case would be option A.</h2>

Explanation:

Based on the common consumer psychology,any rational consumer or buyer is relatively more responsive or reactive to any certain change in market price of any normal good or service during the initial stages of purchase or consumption.
Hence,during the initial consumption phase,if the market price of any good or service changes by a certain proportion,then consumer demand for that product or service would also change in significant or considerable proportion.
However,as the rational consumer or buyer increases its consumption level of any good or service as its market price decreases progressively,he or she becomes increasingly insensitive or unresponsive towards the change or further decrease in its market price.
This phenomenon can be conceptually attributed to the law of diminishing marginal utility of any normal good or service which evidently advocates that as the individual consumer or buyer consumes more of any particular good or service,the additional or incremental consumer satisfaction or utility obtained from 1 more unit purchase of that particular good or services decreases progressively.In other words,the marginal utility of the consumer or buyers falls increasingly as the consumption level of any good or services increases.
Hence,the market value of any product or service also declines as the consumption level of any good or services increases thereby making the consumers or buyers increasingly unresponsive or non reactive as its market price decreases especially towards the later or subsequent stages of consumption or purchase.

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3 years ago

A consumer must decide between purchasing a new cell phone or renting a new car. Why might determining the opportunity cost be u

Daniel [21]

When a consumer has to decide between buying a new smartphone or renting a new car, the determination of opportunity costs is difficult, as both the expenses have different utilities.

<h3>What is opportunity cost?</h3>

The cost, which is undergone in order to let go of an alternative divestment of such cost, is known as an opportunity cost. An opportunity costs may be backed by emotions and other external factors.

Hence, the significance of opportunity costs is given above.

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2 years ago

Time Warner Inc. is a leading media and entertainment company whose businesses include Turner, Home Box Office, and Warner Bros.

LekaFEV [45]

Answer:

Net Cash flow from Operating activities $16,422

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net loss - $13,402

Adjustment made:

Add: Depreciation, amortization, and impairments $34,790

Add: Decrease in accounts receivable $1,245

Less: Increase in inventory -$5,766

Less: Decrease in accounts payable -$445

Total of Adjustments $29,824

Net Cash flow from Operating activities $16,422

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3 years ago

Singer and McMann are partners in a business. Singer's original capital was $40,000 and McMann's was $60,000. They agree to sala

11111nata11111 [884]

Answer: $20,000

Explanation:

Given that,

Singer's original capital = $40,000

McMann's original capital = $60,000

Singer's salary = $12,000

McMann's salary = $18,000

Interest on original capital = 10%

Profit sharing ratio = 3:2

Income of the year = $30,000

McMann's share of the income:

Salary = $18,000

Interest = $6,000

Singer's share of the income:

Salary = $12,000

Interest = $4,000

Therefore,

Remainder = $30,000 - $40,000

= -$10,000

Hence, remainder will be divided among these two partners in 3:2 ratio.

So,

McMann's share of remainder = $\frac{2}{5}\times10,000$

= -$4,000

Therefore, McMann's share of the income:

= Salary + Interest + remainder

= $18,000 + $6,000 + (-$4,000)

= $20,000

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3 years ago

Firms with volatile operating income tend to have lower debt ratios because Blank______. Multiple choice question. there is a lo

lubasha [3.4K]

<h3>Option 2 is correct - There is a higher probability of experiencing Financial distress.</h3>

Firms with volatile operating income tend to have lower debt ratios because there is a higher probability of experiencing financial distress.

Financial distress is a condition in which a company or individual cannot generate sufficient revenues or income, making it unable to meet or pay its financial obligations. This is generally due to high fixed costs, a large degree of illiquid assets, or revenues sensitive to economic downturns.

Following reasons can lead to financial distress in a firm.

Cash flows - The first sign that things are going wrong is a constant shortage of cash. The old adage that cash is king exists for a reason
Falling margins and poor profits - Experienced entrepreneurs have learnt that for long-term survival what matters are profits, not only sales. Poor profits are usually the first indicators that a business is not doing well.
Poor sales growth or decline in revenues - When there is no sales growth despite extreme marketing activities, this could indicate a lack of customer acceptance, which is key to any business success.
Extended payment days - Another sign of possible trouble is a rise in either creditor or debtor payment days. If business has to delay payments to its creditors, this can force some suppliers to stop supplying

Difficulty in raising capital - If a company is constantly borrowing and asking its investors to inject more capital, this is an underlying sign that it is increasingly finding it difficult to self-sustain.

Hence, Firms with volatile operating income tend to have lower debt ratios because there is a higher probability of experiencing financial distress.

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2 years ago