Entrepreneurs are visionaries who __________.
Answers
(Hope this helps)
Related Questions
Jamal tried to apply for a mortgage. However, he was turned down for the loan because the loan officer noticed that he had made late payments to his credit card and he had not made payments on a loan. What questions should he have asked himself before deciding to buy a home
Steve wants to invest in five-year bonds and wishes to avoid federal income taxes on his gains. Which bonds will most likely meet his investment needs?Select the best answer from the choices provided. a TIPS b municipal bonds c fixed-rate Treasury bonds d zero coupon bonds
Marybeth Adamson’s recent health care costs include co-payments of $125 and a hospital bill of $750. Her insurance has a $200 deductible and it covers 100 percent of all hospital charges. What amount did she pay? A$231 B$325 C$450 D$125
The makers of Breyers ice cream have come up with a new line called Breyers Blasts! This line of ice cream combines Breyers ice cream with well-known products such as Oreo cookies, Snickers candy bars, and Reese's peanut butter cups. This is an example of_____________.
debit Rent Revenue and credit Unearned Rent Revenue, $24,000.
debit Unearned Rent Revenue and credit Rent Revenue, $12,000.
debit Cash and credit Unearned Rent Revenue, $24,000
Answers
Answer:
debit Unearned Rent Revenue and credit Rent Revenue, $12,000.
Explanation:
Provided information we have,
Rent is received on 1 September 2017 for a period of 1 year on which it is accounted as Unearned Rent amounting $36,000.
Entry on that date would be
Cash A/c Dr. $36,000
To Unearned Rent $36,000
At the end of the year on 31 December 2017, we have period of current year lapsed = 1 September to 31 December = 4 months.
Thus rent income for the year = $36,000 = $12,000
Therefore this rent of $12,000 will be recognized as rent income for the year 2017.
Entry will be
Unearned Rent A/c Dr. $12,000
To Rent Revenue $12,000
Final answer:
At the end of the year, Pappy Corporation should debit Unearned Rent Revenue and credit Rent Revenue by $12,000 as part of an adjusting entry to reflect 4 months of earned rent. The remainder stays in Unearned Rent until it's earned in the following year.
Explanation:
The transaction from September 1, 2017, where Pappy Corporation received cash of $36,000 for one full year's rent in advance, is recorded with a credit to Unearned Rent. The Unearned Rent is a liability account which shows that Pappy Corporation has an obligation to provide the rent space in the future. At the end of the year, December 31, 2017, an adjusting entry should be made to transfer a third of the rent payment ($12,000) from the Unearned Rent account to the Rent Revenue account as by this time four months of rent have been earned. Hence, the accurate adjusting entry is debit Unearned Rent Revenue and credit Rent Revenue, $12,000. The remaining $24,000 stays in the Unearned Rent account until it is earned in the following year.
Learn more about Accounting for Unearned Revenue here:
#SPJ3
Answers
Answer:
The correct answer is D. 2007.
Answers
Answer:
the answer is D Depreciation.
Explanation:
Depreciation is a non-cash expense. It represents the decrease in value of a long-term asset over time due to wear and tear, obsolescence, or other factors. While depreciation affects the value of an asset, it does not involve any cash outflow or payment.
To understand this concept, let's take an example. Suppose a company purchases a delivery truck for $50,000. Over time, the truck's value will decrease due to factors such as usage, age, and technological advancements. The company recognizes this decrease in value as an expense called depreciation. However, no actual cash is paid for depreciation; it is simply an accounting entry to reflect the decrease in the truck's value over time.
On the other hand, the other options listed are not non-cash expenses:
A. Cost of Goods Sold (COGS) represents the direct costs involved in producing goods or services and includes expenses like raw materials and direct labor. COGS typically involves cash outflows.
B. Salaries represent the compensation paid to employees for their work. Salaries are generally paid in cash.
C. Office Supplies refer to items used in day-to-day office operations, such as paper, pens, and ink. These supplies are usually purchased with cash.
E. Interest expense represents the cost of borrowing money. Interest expense involves cash outflows as interest payments are made to lenders.
In conclusion, depreciation is the non-cash expense among the options listed. It reflects the decrease in value of long-term assets over time but does not involve any cash outflow or payment.
Final answer:
Option D
Depreciation is a non-cash expense that represents the reduction in value of an asset over time due to wear and tear or obsolescence.
Explanation:
The correct answer is D. Depreciation.
Depreciation is a non-cash expense because it represents the reduction in value of an asset over time due to normal wear and tear, obsolescence, or other factors.
It is recorded as an expense on the income statement, but does not involve any actual cash outflow.
For example, if a company purchases a machine for $10,000 and expects it to have a useful life of 5 years, the company would record a depreciation expense of $2,000 per year ($10,000/5) on the income statement, even if they did not actually spend any cash each year.
Learn more about Non-cash expense here:
#SPJ11
Answers
Based on the information given, it should be noted that the variable cost per unit will be $14.
Calculation of the Variable Cost.
The variable cost per unit will be:
= Direct materials + Direct labor + Variable manufacturing overhead + Sales commission + Variable administrative expenses
= 7 + 4 + 1.5 + 1 + 0.5
= 14
The total amount of variable cost will be:
= 14 × 18000
= $252000
When 22,000 units are produced and sold, the total amount of variable cost will be:
= 22000 × 14 = $308000
The average fixed cost manufacturing cost per unit will be:
= (20000 × 5)/18000
= 5.56
When 22,000 units are produced, the average fixed manufacturing cost per unit produced will be:
= (20000 × 5)/22000
= 4.55
The total amount of fixed manufacturing overhead incurred will be:
= 20000 × 5
= $100000.
Learn more about variablescost on:
Answer:
1) total variable cost per unit $14
2) total variable cost per unit $14
3) total variable cost = $14 x 18,000 = $252,000
4) total variable cost = $14 x 22,000 = $308,000
5) average fixed manufacturing cost = $100,000 / 18,000 units = $5.56 per unit
6) average fixed manufacturing cost = $100,000 / 22,000 units = $4.55 per unit
7) total fixed manufacturing overhead = $100,000
8) total fixed manufacturing overhead = $100,000
Explanation:
The company's variable costs for producing 20,000 units
- direct labor cost is $4 per unit
- direct material is $7 per unit
- variable manufacturing overhead $1.50 per unit
- sales commissions $1 per unit
- variable administrative expense $0.50 per unit
- total variable cost per unit = $14
The company's variable costs for producing 20,000 units
- fixed manufacturing overhead $5 x 20,000 = $100,000
- fixed selling expense $3.50 x 20,000 = $70,000
- fixed administrative expense $2.50 x 20,000 = $50,000
- total fixed costs $220,000
b. Price will remain constant.
c. Price will increase.
d. There is not enough information to answer this question.
Answers
Answer:
C. Price increases.
Explanation:
Supply for the good decreases while demand remains constant, and people would have to compete with each other more to obtain the good
The seller would naturally sell the good to the highest bidder/buyer so as to maximise his profit, thus as a good becomes scarcer, its price increases