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Andru [333]
3 years ago
6

The entity’s manufacturing division, whose assets constituted 75% of its total assets at September 30, Year 5 (end of year), was

sold on November 1, Year 5. The new owner assumed the bonded indebtedness associated with this property. How should this event be presented in the financial statements?
Business
1 answer:
belka [17]3 years ago
5 0

The event should be presented in the financial statements as follows:

1. The assets side of the balance sheet will be reduced by 75%, with its accompanying accumulated depreciation.

2. The bonded liability on the balance sheet is eliminated by the relevant amount.

3. The journal entry should debit the Bonded Liability and accumulated depreciation, while the assets worth 75% are credited.

4. If the bonded indebtedness is more than 75% of the assets, the company records a profit on disposal on the income statement. Otherwise, it records a loss. If they are equal, there is no profit or loss.

Thus, the difference between the debit and credit entries constitutes either profit or loss on disposal.

Learn more: brainly.com/question/17329408

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Public relations is best considered a __________ function
bonufazy [111]
Happy to help!

The correct statement includes the word: management.
Public relations is best considered a management function.

I hope I have successfully assisted you. Let me know if you have any questions!
~Brooke❤️
4 0
3 years ago
Which of the following is true of general-purpose financial statements?
ehidna [41]

The option that tells us the truth about the general purpose financial statements is that, They provide important information at the least cost.

<h3>What is meant by the general purpose financial statement?</h3>

The term general purpose financial statement is used to refer to the financial statements that re used in the provision of information about the operations and the financial standing of a company or an organization. It also tells us of the cash flow that the organization is having.

Hence we can say that The option that tells us the truth about the general purpose financial statements is that They provide important information at the least cost.

Read more on the financial statements here: brainly.com/question/26240841

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8 0
2 years ago
Stars are _____, according to the bcg matrix. stars have included apple and the diamond company debeers.
Licemer1 [7]

<span>The answer is ’are business units or products that have the greatest market share and produce the most cash’. Monopolies and first-to-market products are commonly termed stars. On the other hand, because of their high growth rate, stars also use large amounts of cash. This commonly results in the same amount of money coming in that is going out. </span>

4 0
3 years ago
Read 2 more answers
A recent study on enrollment at a liberal arts college concluded that demand elasticity is 0.91. The administration is consideri
Julli [10]

Based on the fact that the demand elasticity is 0.91, the revenue-maximizing decision would be to d. increase tuition, which would generate more revenue.

<h3>Why is this the revenue-maximizing decision?</h3>

When the demand elasticity is below 1 as is the case here, it means that demand is inelastic.

When demand is inelastic, an increase in price will lead to a lower decrease in demand. This means that increasing prices for enrollment in this college will bring in revenue because there won't be much change in demand.

In conclusion, option D is correct.

Find out more on demand elasticity at brainly.com/question/6791468.

6 0
2 years ago
Mrs. Mulcahy, age 65, is concerned that she may not qualify for enrollment in a Medicare prescription drug plan because, althoug
Kazeer [188]

What should you tell her is: She do not have to enroll under Part B before she enroll in a prescription drug plan.

Medicare prescription drug plan is plan that help to cover all prescribed drugs which means that any person under the plan drugs is covered thereby by saving costs.

Based on the scenario every person who is qualified to Part A or who is enrolled under Part B is qualified to register for Medicare prescription drug plan.

Since she is qualified for Part A, she do not need to register or enroll in Part B before been enrolled in a Medicare prescription drug plan.

Inconclusion What should you tell her is: She do not have to enroll under Part B before she enroll in a prescription drug plan.

Learn more here:

brainly.com/question/2484113

4 0
2 years ago
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