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valkas [14]
2 years ago
8

The elements of the business environment include the:.

Business
1 answer:
quester [9]2 years ago
5 0

Answer:technological environment, economic and legal environment, competitive environment

Explanation:

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a large, family-owned dairy farm operating in the western part of virgina is preparing its annual tax return, and the cfo's obje
Schach [20]

Annual tax return is a document which states the income and expenses of a certain firm or individual and it is given to the tax department for further checking.

Depreciation expenses is the decrease in the cost of an asset that has appeared over a period of time because of its use. Any expense that is related to a certain asset is included to calculate the depreciation expense.

Depreciation expense: Cost of the asset - residual value/ total units expected to be produced * actual units produced

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7 0
1 year ago
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Economics: Which items make up the marketing mix?
Degger [83]

Answer: Price, Product, Promotion and Place.

Explanation:

7 0
3 years ago
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On July 1, 2020, Ayayai Co. pays $15,420 to Pina Insurance Co. for a 3-year insurance policy. Both companies have fiscal years e
rodikova [14]

Answer:

July 1, 2020

Dr. Prepaid Insurance $15,420

Cr. Cash __________ $15,420

December 31, 2020

Dr. Insurance Expense_$2,570

Cr. Prepaid Insurance _$2,570

Explanation:

Prepaid Expense is the payment of an expense made before it accrued ( means advance payment of an expense ).

As Ayayai Co. paid the 3 years insurance in advance. It is the form of prepaid insurance. Prepaid insurance will be charged to the insurance expense account with the passage of time.

On July 1

The cash is paid so, the cash account will be credited because it is an asset account that has a debit nature. To reduce its balance we need to credit it.

On the other hand, cash is made against the advance payment of insurance for three years, prepaid insurance account will be debited because it is an asset account that needed to be debited to record this.

December 31

The Insurance expense for 6 months is accrued and it needs an adjusting entry to record the expense.

To record Insurance expense, the insurance expense account is debited and on the other hand to reduce the balance of prepaid insurance by the accrued expense value prepaid insurance account is credited.

Insurance expense = $15,420 x 6 / ( 12 x 3 ) = $2,570

3 0
2 years ago
On December 15, 2018, Rigsby Sales Co. sold a tract of land that cost $3,700,000 for $5,000,000. Rigsby appropriately uses the i
xxTIMURxx [149]

Answer:

$127,400

Explanation:

Gross profit ratio = [(sale - cost) ÷ sale price] × 100

                           = [($5,000,000 - $3,700,000) ÷ $5,000,000] × 100

                          = 0.26 × 100

                          = 26%.

Gross profit on down payment is recognized in 2019:

= Down payment × Gross profit ratio

= $490,000 × 26%

= $127,400

5 0
2 years ago
Ticketsales, Inc., receives $7,720,000 cash in advance ticket sales for a four-date tour of Bon Jovi. Record the advance ticket
kvasek [131]

Answer:

When revenue has been received but the service has not been rendered, the revenue will not be recognized and will instead be treated as a liability called unearned revenue.

Date                   Account Title                                          Debit               Credit

Oct. 31                Cash                                                   $7,720,000

                           Unearned Ticket revenue                                      $7,720,000

Date                    Account Title                                         Debit               Credit

Nov. 5                  Unearned Ticket Revenue             $1,930,000

                          Ticket Revenue                                                   $1,930,000

<u>Working </u>

Ticket revenue = 1/4 * 7,720,000

= $1,930,000

5 0
3 years ago
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