How do you write a check in 6 steps

Suppose two economists are arguing about policies that deal with unemployment. One economist says, " the government could lower

Nikitich [7]

Answer:

The correct answer is Disagree because they have different scientific judgements.

Explanation:

Obviously, what is demonstrated in the previous situation is that the two economists think differently. For this reason, they have different judgments from a training that allows them to recognize the events and propose alternatives to the problems presented.

Value judgments are the criticisms or comments that all people make towards other people or things depending on our perspectives or tastes.

Scientific judgments are always objective and are made with the scientific method, and are made with observation and verification.

We make moral judgments based on the "good or bad" human acts of a person and thus to discover their morality.

8 0

3 years ago

F ZMW 51,000 cash is paid to buy land, the land is reported on the buyer's balance sheet at ZMW 51,000.

Tomtit [17]

Answer:

This is made due to the application of the cost principle or historical cost concept.

Explanation:

The cost principle or historical cost concept states that the assets, equities, and liabilities are required to be recorded on the financial records on the basis of their original cost. Thus as the cash paid is ZMW 51,000, the same is required to be recorded on the balance sheet of the buyer.

5 0

3 years ago

19. Fortuna Co. reports the following in its 2016 annual report: 2016 2015 2014 Sales $10,597,336 $10,265,536 $9,893,432 Account

kaheart [24]

Answer:

<u>For Fortuna Co. </u>

Account receivables turnover ratio = net credit sales during the year / average accounts receivable

2015 = $10,265,536 / [($1,052,112 + $1,141,906)/2] = 9.358
2016 = $10,597,336 / [($900,516 + $1,052,112)/2] = 10.854

Average collection period = 365 days / accounts receivables turnover ratio

2015 = 365 days / 9.358 = 39 days
2016 = 365 days / 10.854 = 33.63 days

Since the accounts receivable turnover ratio is higher for 2016, the average collection period will be shorter. This means that the company is collecting its outstanding credit faster in 2016 than 2015.

<u>For Saturn, Inc. </u>

Prepare general journal entries for the following transactions that occurred during the year:

(1) Wrote off N. Purcell’s account, $6,800.

Dr Allowance for doubtful accounts 6,800
Cr Accounts receivables 6,800

(2) Wrote off J. Stein’s account, $2,400.

Dr Allowance for doubtful accounts 2,400
Cr Accounts receivables 2,400

(3) J. Stein, who is in bankruptcy, paid $800 in final settlement of the account written off in transaction

first you must reverse the write off

Dr Accounts receivables 800
Cr Bad debt expense 800

now you record the collection of the settlement amount

Dr Cash 800
Cr Accounts receivables 800

(4) On December 31, estimated the year’s bad debts expense at 1% of credit sales.

balance for allowance for doubtful accounts = $8,000 - $6,800 - $2,400 = -$1,200 or $1,200 debit balance

total credit sales $1,200,000 x 1% (estimated bad debt) = $12,000 credit balance for allowance for doubtful accounts

the journal entry to record bad debt expense:

Dr Bad debt expense 13,200
Cr Allowance for doubtful accounts 13,200

5 0

3 years ago

Mumz [18]

Answer:

The correct answer to this is type of advertisement is reminder advertising.

Explanation:

Reminder advertising is that type of marketing strategy, which consists of brief messages that are sent to the target consumer base , with the objective of reminding them about the product or service or introducing a new product or service in their already existing marketing program. In this question also local car dealership is trying to remind people of its services offered during the winter.

8 0

3 years ago

Classify each cost as either a product cost or a period cost. Indicate whether each product cost is a direct materials cost, a d

chubhunter [2.5K]

a. Salary of chief compliance officer of company

b. Power used by painting equipment

c. Instrument panel installed in the airplane cockpit

d. Annual bonus paid to the chief operating officer of the company

e. Turbo-charged airplane engine

f. Interior trim material used throughout the airplane cabin

g. Cost of normal scrap from production of airplane body

h. Hourly wages of employees that assemble the airplane

i. Salary of the marketing department personnel

j. Cost of paving the headquarters employee parking lot

k. Cost of electrical wiring throughout the airplane

l. Cost of electronic guidance system installed in the airplane cockpit

m. Salary of plant manager

n. Cost of miniature replicas of the airplane used to promote and market the airplane

o. Human resources department costs for the year

p. Metal used for producing the airplane body

q. Annual fee to a celebrity to promote the aircraft

r. Hydraulic pumps used in the airplane's flight control system Product costs-

s. Yearly cost of the maintenance contract for robotic equipment

t. Prebuilt leather seats installed in the first-class cabin

u. Depreciation on factory equipment

v. Special advertising campaign in Aviation World magazine

w. Oil to lubricate factory equipment

x. Masks for use by painters in painting the airplane body

y. Decals for cockpit door, the cost of which is immaterial to the cost of the final product

z. Salary of chief financial officer

Answer:

A) period costs- administrative expense

B) product cost-factory overhead cost

C) product cost-direct materials cost

D) period costs- administrative expense

E) Product costs-direct materials cost

F) Product costs-direct materials cost

G) Product costs-factory overhead cost

H) Product costs-direct labor cost

I) Period costs-selling expense

J) Period costs-administrative expense

K) Product costs-direct materials cost

L) Product costs-direct materials cost

M) Product costs-factory overhead cost

N) Period costs-selling expense

O) Period costs-administrative expense

P) Product costs-direct materials cost

Q) Period costs-selling expense

R) Product costs-direct materials cost

S) Product costs-factory overhead cost

T) Product costs-direct materials cost

U) Product costs-factory overhead cost

V) Period costs-selling expense

W) Product costs-factory overhead cost

X) Product costs-factory overhead cost

Y) Product costs-factory overhead cost

Z) Period costs-administrative expense

6 0

4 years ago