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3 years ago

Please read the entire question.

1 answer:

6 0

Maybe a nighttime setting could work for your PowerPoint. I'm thinking string lights, glow-in-the-dark stickers, stuff like that. And then in comes your toy: warm, snuggly, and here to help your prospective kid sleep through the night. I know how to make a whole bunch of cool designs with PowerPoint, so just comment below if you have any questions.

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The investments of Steelers Inc. include a single investment: 11,100 shares of Bengals Inc. common stock purchased on September

mihalych1998 [28]

Answer:

Steelers Inc.

a) Journal entries:

Sept. 12

Debit Available for Sale Investment $133,200

Credit Cash Account $133,200

To record investments in the common stock of Bengals Inc., 11,110 shares at $12 per share.

Dec. 31:

Debit Unrealized Loss on Available for Sale Investment $22,200

Credit Available for Sale Investment $22,200

To record the fair value of the investment.

b) The unrealized gains and losses are included in other comprehensive income within the equity section of the balance sheet.

The loss will, therefore, be deducted from other comprehensive income.

Explanation:

Investments held for sale are accounted for at fair value. This implies that at the end of any accounting period, the fair value of the investments will be determined. This is usually the market value. Then, adjustments are made in the asset account according to the fair value. There will be recognized either unrealized gain or loss, which are taken to other comprehensive income in the balance sheet under the equity section.

5 0

3 years ago

Collisions caused by fatigue are particularly likely to involve

Solnce55 [7]

Collision caused by fatigue are particularly likely to involve MEN.
Previous research studies had shown that men are more likely to drive while drowsy than women. Also, men are almost twice as likely [22% versus 12%] as women to fall asleep while driving as a result of fatigue.

4 0

3 years ago

At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 901,000 Credit sales 30

Anon25 [30]

Answer:

Please find the detailed answer in the explanation section.

Explanation:

A. 4% of credit sales

Bad Debts Expense is 4% of $301,000

0.04 x $301,000

=$12,040

Adjusting entry

Dec. 31

Dr Bad debt expense $12,040

Cr Allowance for Doubtful allowance $12,040.

B. 2% of total sales

Total sales = cash sales + credit sales

$ 901,000 + $ 301,000

=$1,202,000

Bad Debts Expense is 2% of 1,202,000

0.02x $1,202,000

=$24,040

Adjusting entry

Dec. 31

Dr Bad debt expense $24,040

Cr Allowance for Doubtful allowance $24,040.

C. 7% of year-end accounts receivable.

Unadjusted balance is $5,100

Estimated balance = $8,820(7% of $126,000)

Adjusted balance is $13,920($5,100 + $8,820)

Adjusting entry

Dec. 31

Dr Bad debt expense $8,820

Cr Allowance for Doubtful allowance $8,820

5 0

3 years ago

The following does not describe the matching principle

Marizza181 [45]

Answer: The correct answer is c. Expenses are reported on the income statement when cash is paid.

Explanation: Matching principle states that expenses are matched with the related revenue in the same period, that is, expenses incurred to generate related revenue are recorded during the same time interval the related revenue is recorded in order to show the true and fair position of the profitability of the company.

Based on the above definition, only option C does not align with the matching principle because expenses should be recorded in the income statement when incurred and NOT when cash is paid. If it is recorded when cash is paid, it means cash basis of accounting is being applied.

8 0

3 years ago

Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plot

olya-2409 [2.1K]

Answer:

Political and Legal

Explanation:

Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plotting to raise and fix prices of vitamins used in virtually every home in the U.S. This is an example of how political and legal forces affect the marketing environment.

Business organisations operate within a political system and legal framework. Political factors determine economic policies like taxation and regulations. Business decisions are subject to, and are affected by political and legal factors.

Governments formulate a series of legislations to monitor business activities and protect consumer and social interests.

Such laws would either create new opportunities or threats for the businesses in existence.

In the Scenario above Hoffman-LaRoche and BASF AG must have violated regulations that protect consumer interests put in place by the government by wanting consumers to pay too high for such necessities as vitamins and huge fines have been imposed on them.

7 0

3 years ago