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Molodets [167]
2 years ago
7

Adjustments ensure that ______ balances are reported at amounts representing the economic benefits that remain at the end of the

period and will be used-up in future periods.
Business
1 answer:
Georgia [21]2 years ago
5 0

What we own are asset, adjustments ensure that asset balances are reported

<h3>What is an asset?</h3>

An asset is of worth that has economic value and future benefit.  An asset can serve as a source of income generating money for present and future endeavors.

Therefore, what we own are asset, adjustments ensure that asset balances are reported

Learn more on assets here,

brainly.com/question/25821437

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Another term for a checking account is a time deposit.<br> True<br> Or False
lys-0071 [83]

Answer:

False because you only go and check your account you don't deposit anything only if you want

7 0
2 years ago
Read 2 more answers
Jasper makes a $25,000, 90-day, 7% cash loan to clayborn co. jasper's entry to record the collection of the note and interest at
Irina-Kira [14]

Answer:

The journal entry is as follows:

Cash A/c Dr. $ 25,437.50

      To Notes Receivable A/c   $25,000

      To Interest revenue A/c     $437.50

(To record the collection of the note and interest at maturity)

Working notes:

Interest for 90 Days:

= Note value × Interest rate × Time period

= $25,000 × 0.07 × (90/360) days

= $437.50

5 0
3 years ago
x-co issued 1,000 shares of its 5%, $10 par value, cumulative preferred stock for $100 cash per share. the journal entry to reco
gizmo_the_mogwai [7]

If the company issued 1,000 shares of its 5%, $10 par value, cumulative preferred stock for $100 cash per share. the journal entry to record this event includes: is: Debit  Cash $100,000 ; Credit to Preferred Stock $100,000.

<h3>How to prepare the journal entry?</h3>

Based on the given information we were told that the company issued  1,000 shares in which the cumulative preferred stock is the amount  $100 cash per share. The appropriate journal entry to record the transaction is:

Journal entry

Debit  Cash $100,000

Credit to Preferred Stock $100,000

( To record preferred stock)

Workings:

Preferred stock = 1,000 shares × $100 cash per shares

Preferred stock = $1000,000

Therefore the correct journal entry to record the transaction is to debit cash with the amount of $100,000 and credit Preferred stock with the amount of $100,000.

Learn more about journal entry here: brainly.com/question/14279491

#SPJ1

6 0
1 year ago
1. Jones files a lawsuit against BigMoney, LLC, a brokerage firm registered with the Securities and Exchange Commission. In the
tester [92]

Answer:

Jones is right in this lawsuit

Explanation:

Arbitration is the process by which disputes are settled between parties. When there is a disagreement between parties an arbitrator comes in to give a fair and unbiased view of the situation.

A solution that is agreed to by all parties is agreed upon to settle.

In this scenario where Jones is filing a lawsuit against BigMoney LLC for violating the Securities Exchange Act by engaging in fraudulent excessive trading, this is a violation of the law and not a dispute between parties.

So the arbitration clause is is not binding and the arbitration clause should be nullified.

5 0
3 years ago
The average ticket price for a concert at the opera house was ​$50. The average attendance was 2500. When the ticket price was r
Ber [7]

Answer:

The price per ticket should be $37.5

Explanation:

First we need to determine the change in demand (attendance) as a result of every $1 increase in the price of ticket.

The ticket price increased by $4 (from 50 to 54) and the demand fell by 400 (from 2500 to 2100). The change per dollar is,  400 / 4 = 100.

So, for every $1 increase in price, demand falls by 100.

The revenue is calculated by multiplying price by quantity demanded. Revenue equation will be,

Let x be the change in price from $50.

Revenue = (50 + x)  * (2500 - 100x)

Revenue = 125000 - 5000x + 2500x - 100x²

Revenue = 125000 - 2500x - 100x²

To calculate the price that maximizes the revenue, we need to take the derivative of this equation.

d/dx = 0 - 1 * 2500x° - 2 * 100x

0 = -2500  -  200x

2500 = -200x

2500 / -200 = x

-12.5 = x

Price should be 50 - 12.5 = 37.5

At price $37.5 the revenue of the Opera House is maximized.

6 0
3 years ago
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