Purchased a delivery truck for $10 000, paying $2000 cash and the balance to be paid in 90 days.
- increase asset
- decrease asset
- no change on asset
Answers
When you purchase a delivery truck for $10,000, paying $2,000 cash and the balance to be paid in 90 days, the following changes occur in your assets:
1. Increase asset: The delivery truck is an asset, and its value ($10,000) is added to your assets.
2.Decrease asset: You are paying $2,000 cash, which reduces your cash asset by that amount.
3. No change on asset: The remaining $8,000 to be paid in 90 days will not have an immediate impact on your assets. However, when the balance is paid after 90 days, it will result in a decrease in your cash asset.
In summary, the purchase of the delivery truck increases your assets by $10,000 while decreasing your cash asset by $2,000, and the remaining balance to be paid in 90 days does not have an immediate impact on your assets.
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Related Questions
purchasing common stock by writing a check best exemplifies money serving as a: A. store of value.
B. unit of account.
C. medium of exchange.
D. index of satisfaction.
Answers
The purchasing of common stock through writing a check best exemplifies money serving as a c) medium of exchange.
A medium of exchange is a means by which individuals exchange goods or services. It's anything that's generally accepted as payment for goods and services in an economy. Money is used to exchange goods and services in most modern economies, but it has not always been the case.
A medium of exchange is something that can be readily traded for goods and services by everyone in an economy. Money, as a medium of exchange, must be accepted by everyone who participates in the economy. Writing a check is a form of money exchange because it serves as a promise to pay a specified amount of money in exchange for goods or services.
It is essential to note that not everyone in the economy accepts a check as a form of payment for goods and services. However, the majority of the population accepts it since it is widely accepted by most businesses and can be deposited in bank accounts for cash. Thus, purchasing common stock through writing a check best exemplifies money serving as a medium of exchange.
A store of value is an item that can be saved and utilized at a later time, such as gold, silver, and diamonds. An index of satisfaction, on the other hand, has nothing to do with the usage of money, and it is not a financial term.
In conclusion, purchasing of common stock through writing a check best exemplifies money serving as a medium of exchange. Therefore, the correct answer is c) medium of exchange.
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The Coca-Cola Company uses a job-order costing system. True or False: Job-order costing uses the actual direct materials cost of the job, the actual direct labor cost of the job, and the manufacturing overhead cost applied to the job.
Answers
Answer: In managerial accounting, there are two general types of costing systems to assign costs to products or services that the company provides: “job order costing” and “process costing”. Job order costing is used in situations where the company delivers a unique or custom job for its customers. Every customer is treated uniquely and delivered products to specifically suit their individual needs.
Explanation: hope this helps, if not I'm sorry
a customer buys a new municipal issue from an underwriter on friday, january 16th, with settlement taking place on tuesday, january 20th. the bond is dated january 1st. how many days of accrued interest must be paid by the customer to the underwriter?
Answers
The ideal response is C. On a fresh issuance, interest starts to accrue from the dated date up to, but excluding, the day when the first trade settles. Interest accrues through January 15 due to the January 16 settlement date.
What kind of municipal bond is supported by the issuer's complete faith and credit?States, cities, and counties may issue general obligation bonds, which are not backed by any assets. Instead, general obligation bonds are supported by the issuer's "full confidence and credit," which includes the authority to levy taxes on locals to pay bondholders.
Municipal bonds, commonly known as muni bonds or minis, allow qualified residents to earn income tax-free but have lower coupon (interest) rates than taxable bonds.
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To be eligible for federal grants to pay for college, a student must _____.
(PLATO CORRECT ANSWER ONLY)
A. attend either a public university or community college
B. complete one year of college in good standing
C. complete the FAFSA before the deadline
D. be able to pay more than half the tuition
Answers
Question 6 (1 point) Which one of the following statements is true? a) Using a lump-sum tax, government may raise revenue but it distorts individual's budget set. b) An inflation tax does not distort
Answers
The statement a) is true., a) Using a lump-sum tax, the government may raise revenue, but it distorts an individual's budget set.
This statement is true. A lump-sum tax is a fixed amount of tax that individuals have to pay regardless of their income or consumption. It does not depend on an individual's behavior or choices. While a lump-sum tax allows the government to raise revenue without distorting incentives or altering the relative prices of goods and services, it does affect an individual's budget set.
By imposing a lump-sum tax, individuals have less disposable income available for consumption or savings. This reduces their purchasing power and limits their ability to allocate resources according to their preferences. Consequently, a lump-sum tax distorts an individual's budget set by reducing their options and influencing their consumption and savings decisions.
Therefore, statement a) is true.
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PIz help, Im confused.
Answers
Base on the personal history provided, Megan's hypothetical credit score is 470. Option A
How do we find Megan's hypothetical credit score?To Find Megans credit score, we have to look at her personal information against the hypothetical credit score provided.
Megan is 28 which has 20 point score
2 years at her residence has 20 point score
8 years auto age has 0 score point
No car payment history has 72 score points
$500 house payment has 48 score point
A checking account has 8 point
No finance reference has 60 points
5 major credit cards has 60 points
15% ratio of debt to income has 80 points
Never declare bankruptcy has a score of 120
Lets sum the scores; 20+20+0+72+48+8+60+60+80+120 = 488
The closest value in the list of options is 470 and therefore her hypothetical credit score is 470.
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he loves me, he gives me all his money, that gucci prada comfy, my suger daddy:)
Answers
Answer:
what did he sayyyyyyyyyy
dunn dunn dun dunn dun
Type the correct answer in the box. Spell all words correctly.
What designation would you hold if you have the most common designation in the accounting field, which is also considered the backbone of
the accounting function?
You would hold a
designation if you have the most common designation in the accounting field.
Answers
The most common designation in Accounting which is the backbone of the accounting field is Chartered./ Certified Accountant.
Who is a Chartered/ Certified Accountant?A Chartered Accountant is one who has passed the rigorous tests required to become fully certified in the accounting profession.
Due to their immense knowledge and training, they are the backbone of the accounting profession and are the most common type of accountants you will find.
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Let’s say you invested in WXYZ Corp. beginning in 2018, and that the firm’s return was 3% in 2018, 9% in 2019, -11% in 2020, 21% in 2021, Then what is the variance of the returns?
Group of answer choices
13.30%
6.54%
1.77%
3.12%
Answers
The variance of the returns is approximately 1.08%. None of the provided answer choices match exactly, but the closest option is 1.77%.
The variance of the returns is approximately 1.08%. None of the provided answer choices match exactly, but the closest option is 1.77%. To calculate the variance of returns, we need to follow these steps:
1. Calculate the average return (mean): (3% + 9% - 11% + 21%) / 4 = 5.5%
2. Calculate the difference between each individual return and the mean:
- 2018: 3% - 5.5% = -2.5%
- 2019: 9% - 5.5% = 3.5%
- 2020: -11% - 5.5% = -16.5%
- 2021: 21% - 5.5% = 15.5%
3. Square each difference:
- 2018: (-2.5%)^2 = 0.0625%
- 2019: (3.5%)^2 = 0.1225%
- 2020: (-16.5%)^2 = 2.7225%
- 2021: (15.5%)^2 = 2.4025%
4. Calculate the average of the squared differences (variance):
(0.0625% + 0.1225% + 2.7225% + 2.4025%) / 4 = 1.0775%
Therefore, the variance of the returns is approximately 1.08%. None of the provided answer choices match exactly, but the closest option is 1.77%.
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What conditions would affect how much people would use your business?
The business is and Ice Cream Shop.
Answers
Answer:
restaurant
like pandemic all small restaurant is closed the business is bankcrap
The ledger of Skysong, Inc. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared.
Answers
Answer: See Image Below
The adjusting entries for Skysong, Inc. for March is prepared from the given selected accounts before adjusting entries have been prepared.
What are adjusting entries?Adjusting entries are journal entries that are typically made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. Under accrual-basis accounting, the revenue recognition principle serves as the foundation for making adjusting entries for unearned and accrued revenues.
The adjusting entries are as follows:-
No. Date Account Tiles and Explanation Debit Credit
1. March 31 Depreciation expense 756
Accumulated Depreciation expense 756
2. March 31 Unearned Rent revenue 5580
Rent revenue 5580
3. March 31 Interest Expense 360
Interest payable 360
4. March 31 Supplies Expense 1935
Supplies 1935
5. March 31 Insurance Expense 1080
Prepaid Insurance 1080
Therefore, the adjusting entries are prepared on March 31.
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Classify the different options given as goods or services.
haircut
computer hardware
vacation package
washcloth
taxi
housekeeping
car engine
Answers
haircut- services
computer hardware- goods
vacation package- goods
washcloth- goods
taxi- services
housekeeping- services
car engine- goods
In the context of business, the given options classify as follows: haircut, vacation package, taxi ride, and housekeeping are services, while computer hardware, washcloth, and car engine are goods. These definitions are based on whether you can physically touch the item (good) or it's a value-providing activity (service).
Explanation:In business, goods and services is a fundamental concept that helps to distinguish different components of economic activity. Goods are tangible items that we can physically touch. Services are intangible activities which provide some kind of value without producing a physical product.
A haircut is a service because it is an activity that provides value but you can't physically touch it. Computer hardware is a good because it is a tangible item that you can physically touch it. A vacation package is a service because it is an activity that provides value but you can't physically touch it. A washcloth is a good because it is a tangible item that you can physically touch. A taxi ride is a service because it is an activity that provides value but you can't physically touch it. Housekeeping is a service because it provides value through activity but doesn't result in a product you can touch. A car engine is a good because it is a tangible item that you can physically touch. Learn more about Goods And Services here:
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Question 5 of 20
Which is an advantage of paying off a liability?
OA. The liability remains a liability.
B. The liability starts to lose valu
OC. The liability starts to gain value.
OD. The liability can become an asset.
Answers
Answer:
OD is the answer because a liability can become an asset once paid
An advantage of reimbursing the liability is that it becomes an asset when it is being paid.
Option D is correct.
What is an asset?An asset is the monetary resource of a company which is acquired so that the company would get the maximum benefits in the near future. It is the secondary part of balance sheet which is further classified into two parts namely, current and non-current assets.
Liability is referring to the obligation of a company regarding which the repayment would be done after a certain period of time. In order to repay the liabilities like short-term and long-term borrowings, the assets which can be easily converted into cash are being considered. For instance, the amount due from debtors is a current liability and when it is paid, then it is considered to be a current asset.
Therefore, the advantage written in option D is correct.
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steven operates a landscaping service on the accrual method. in september of this year, steven received a payment of $18,000 for 24 months of landscape services ($750 per month commencing on november 1st of this year). when must steven recognize the income if his accounting methods are selected to minimize income recognition?
Answers
If steven received a payment of $18,000 for 24 months of landscape services ($750 per month commencing on november 1st of this year). if his accounting methods are selected to minimize income recognition is : A. $1,500 is recognized in this year, $16,500 next year.
Determining the recognized incomeSince we were told that he received payment of the amount of $18,000 and as well received the amount of $750 per months starting from November 1 now let determine his recognized amount.
Recognized amount this year:
Recognized amount this year = Amount received in November × 2 months
Recognized amount this year = $750 × 2 months
Recognized amount this year = $1,500
Recognized amount next year:
Recognized amount next year = Amount received in September - Recognized amount in November
Recognized amount next year = $18,000 - $1,500
Recognized amount year = $16,500
Therefore the correct option is A..
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The complete question is:
Steven operates a landscaping service on the accrual method. In September of this year Steven received a payment of $18,000 for 24 months of landscape services ($750 per month commencing on November 1st of this year). When must Steven recognize the income if his accounting methods are selected to minimize income recognition?
A. $1,500 is recognized in this year, $16,500 next year.
B. $1,500 is recognized this year, $9,000 next year, and $7,500 in the last year or the contract
C. $18,000 is recognized this year
D. $9,000 is recognized this year and $9,000 next year
E. $18,000 is recognized in the last year of the contract
What is meant by the invisible hand? Explain thoroughly using these terms in your explanation; “competition” “self-interest” “self-regulating
Answers
Answer:
The invisible hand is the term in economics and political philosophy for the invisible mechanism that drives a free market system, coined by economist Adam Smith. Ever since then, it has been a central concept for economists and conservative politicians in their arguments for a pure, non-state intervention free market, laissez-faire policy.
In his analysis, Adam Smith argued that the free market itself is a mutually beneficial arrangement that occurs in itself, spontaneously, as if some invisible hand is operating, by a chain of thousands of exchanges without participants thinking anything about the consequences.
Therefore, through competition guided by the market participants' self interests, all market participants would benefit in a collateral way, provided that there is a proper self regulation of the market, and not a regulation guided by the government.
Budgeting for Needs
Select the items that are needs from your credit card statement.
CREDIT CARD STATEMENT
Last Month
Groceries$200
Movie rentals$15
Concert tickets$120
Internet services$60
Fitness class$35
Go-kart racing$50
Answers
internet services maybe especially during a pandemic
hope this helps
The items that are needed from your credit card statement are Groceries $200, Internet Services $60 and Fitness Class $35. The correct options are a, d and e.
What is a credit card?A credit card is a thin rectangular piece of plastic or metal issued by a bank or financial services company that allows cardholders to borrow funds with which to pay for goods and services with merchants that accept cards for payment.
Credit cards impose the condition that cardholders pay back the borrowed money, plus any applicable interest, as well as any additional agreed-upon charges, either in full by the billing date or over time.
In addition to the standard credit line, the credit card issuer may also grant a separate cash line of credit to cardholders, enabling them to borrow money in the form of cash advances that can be accessed through bank tellers, ATMs, or credit card convenience checks.
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Your Paychecks Add up your net pay to calculate how much money you have for your monthly budget. Paycheck 1 $890 Paycheck 2 $880
Answers
Is the answer for your monthly budget
Movements along the short run "Philips Curve" occur due to
• fiscal policy changes
• all of the listed answers are correct
• changes in the money supply
• fiscal and monetary policy changes
Answers
Movements along the short-run Phillips Curve occur due to changes in the money supply. The Phillips Curve represents the relationship between inflation and unemployment in the short run.
According to the original Phillips Curve theory, there is an inverse relationship between the two variables, implying that when unemployment is low, inflation tends to be higher, and vice versa.
Changes in the money supply can affect the level of aggregate demand in the economy. When the money supply increases, it leads to an increase in aggregate demand, which can result in lower unemployment but higher inflation. Conversely, a decrease in the money supply can lead to lower aggregate demand, resulting in higher unemployment but lower inflation.
Fiscal policy changes, such as changes in government spending or taxation, and monetary policy changes, such as adjustments to interest rates or open market operations, can also have an impact on the short-run Phillips Curve.
However, these policy changes generally shift the entire Phillips Curve rather than causing movements along it. Therefore, while fiscal and monetary policy changes can influence the position of the Phillips Curve, they are not directly responsible for movements along it.
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Critics argue that free trade agreements
O offer goods too freely.
O are unfair to international businesses.
O put people out of jobs.
O are too fair.
O transfer power from international organizations to local groups.
Answers
Critics argue that free trade agreements take people out of jobs, as the outsourcing of jobs in foreign countries increases, making it difficult for local companies to compete.
Through free trade, companies have the possibility of expanding to countries with lower costs of raw materials, labor and tariffs, which is an opportunity to reduce costs and increase profitability for companies.
Therefore, one of the biggest criticisms of free trade agreements is the outsourcing of jobs, which can cause local citizens to lose their jobs.
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How are Epigenetic tags different from genes?
* please i really need help i ask this question but nobody answer so i had to post it again \(>~<)/
Answers
Answer:
epigenetics is the term used to describe inheritance by mechanisms other than through the DNA sequence of genes. It can apply to characteristics passed from a cell to its daughter cells in cell division and to traits of a whole organism.
Explanation:
What are the conditions that would support a strong matrix organization for project management? when is a dedicated team preferred?
Answers
In strong matrix organizations, the project manager has authority and a full-time role. A full-time project management team will report to and control the budget. This structure has the characteristics of an intended organization.
A matrix organization is a combination of two or more different types of organizational structures, such as project management or functional management. Furthermore, the matrix structure includes both traditional management hierarchies, where employees are managed by a functional manager, as well as additional project managers who can manage employees, in different parts. These two or more management systems intersect on a grid or matrix.
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What does this word Otorhinolaryngologist mean?
Answers
Answer:
A medical specialty concerned especially with the ear, nose, and throat and related parts of the head and neck : otolaryngology All antihistamines have at least some drying effects, called anticholinergic properties.
Explanation:
Which quality is a requirement In order for a destination to become a tourism destination area (TDA)?
A. should be accessible by road
B. should be in a developed country
C. should have a unique feature
D. should have a moderate climate
Answers
A form describing the goods or services sold, the quantity, the price, and the terms of sale.
Answers
A form describing the goods or services sold, the quantity, the price, and the term of sale is known as an Invoice.
What is an Invoice?An invoice, bill, or tab is a business document that a seller issues to a buyer in connection with a sale transaction.It lists the goods, quantities, and prices that were agreed upon for any goods or services that the seller has delivered to the customer.In most cases, the invoice includes the payment terms. Some sellers clearly indicate in huge, capital letters on an invoice if it has already been paid in order to prevent misunderstandings and the ensuing needless interactions from buyer to seller.An invoice is a sales invoice in the seller's eyes. An invoice is a purchase invoice in the eyes of the buyer. Although the term invoice implies that money is owed or owing, the document identifies the buyer and seller.
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in October 2001 president George w bush gave directions to establish the office of homeland security and the homeland security council. what is this an example of? A. treaty B. executive order C. agency regulation D.Statute
Answers
Answer:
agency regulations i think
Suppose you have a start-up that thrives on creativity. Now, can
the performance evaluation and control measures employed in a big
company be appropriate for you? Prepare a detailed balanced
scorecard
Answers
The performance evaluation and control measures employed in a big company may not be entirely suitable for a start-up that thrives on creativity.
A balanced scorecard can be developed to assess the performance of the start-up, considering key aspects such as financial, customer, internal processes, and learning and growth perspectives.
A start-up that values creativity and innovation requires a different approach to performance evaluation compared to a big company. While big companies often rely on traditional performance measures like financial metrics and hierarchical control systems, these may not fully capture the unique characteristics and goals of a creative start-up.
A balanced scorecard can be a valuable tool for evaluating the performance of a creative start-up. It provides a comprehensive view by considering multiple perspectives. The balanced scorecard typically includes four key perspectives: financial, customer, internal processes, and learning and growth. The financial perspective assesses the start-up's financial performance and viability, including revenue growth, profitability, and return on investment. The customer perspective focuses on measuring customer satisfaction, retention, and acquisition, as well as the start-up's ability to deliver value to its target market.
The internal processes perspective evaluates the efficiency and effectiveness of the start-up's internal operations, such as product development, innovation processes, and operational efficiency. The learning and growth perspective assesses the start-up's ability to foster a culture of learning, employee development, and innovation, which are crucial for long-term success.
By adopting a balanced scorecard approach tailored to the start-up's specific needs and priorities, performance evaluation and control measures can align with the start-up's creativity-driven objectives and provide valuable insights for decision-making and improvement.
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can someone answer me this please
Answers
Answer:
Higher fixed costs and Deteriorating net cash flow postion
Explanation:
Forms of business organizations
Businesses can be classified into the following forms: sole proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP)
Different forms of businesses have different characteristics. Which of the following characteristics would apply to a limited liability company and a limited liability partnership?
A. LLPs are not suitable for professional firms such as accounting, law, and architecture.
B. Owned by single individual.
C. Owners have limited liability and right to vote.
D. Have corporate ownership structure.
E. Taxed as a partnership.
F. Limited financial liability
You come across different kinds of businesses every day. The following table describes some businesses. Using the description of each business, classify it as a sole proprietorship, a partnership, a corporation, or a limited liability company/limited liability partnership.
Business Scenario Type of Business
Selena and Mario run a law firm in Chicago. LLC/LLP
The firm has debt of $100,000, but Selena
and Mario will not be held personally liable for
the law firm's debt.
Chris, the CEo of a beverage company, is Sole Proprietorship
required to certity the accuracy of information Corporation Partnership
provided in the company's quarterly reports LLC/LLP
Brandon started a business, based in a different
state, with his uncle. Due to the business's under-
performance, they had to close the business.
Brandon, however, ended up losing his house due
to a litigation claim.
Richard founded and operated a wedding planning
agency, which specialized in celebrity weddings.
When he died, his business was dissolved because
there was no plan for control after his death.
Answers
Answer:
Forms of business organizations
1. Characteristics that would apply to a limited liability company and a limited liability partnership:
F. Limited financial liability
2. Business Scenario and Type of Business
a. Selena and Mario run a law firm in Chicago. LLC/LLP . The firm has debt of $100,000, but Selena and Mario will not be held personally liable for the law firm's debt. Limited Liability Partnership
b. Chris, the CEo of a beverage company, is Sole Proprietorship
required to certify the accuracy of information Corporation Partnership
provided in the company's quarterly reports LLC/LLP
c. Brandon started a business, based in a different state, with his uncle. Due to the business's under- performance, they had to close the business. Brandon, however, ended up losing his house due to a litigation claim. Partnership
d. Richard founded and operated a wedding planning agency, which specialized in celebrity weddings. When he died, his business was dissolved because there was no plan for control after his death. Sole Proprietorship
Explanation:
A sole proprietorship is owned by one person without the advantage of being registered as a company (LLC). A partnership is a business organization owned by more than one person without the advantage of limited liability of the partners or being registered as a company (LLC). A corporation is an incorporated business organization with limited liability for the shareholders. Limited liability company (LLC) is a corporation that is owned by individuals with the advantage of limited liability. A limited liability partnership (LLP) is a partnership or business organization owned by more than one person which enjoys limited liability.
Help please
Is political freedom or economic freedom more important in determining economic growth?
A.
Political freedom is more important, which can then lead to economic freedom.
B.
Both political freedom and economic freedom are equally important in determining economic growth.
C.
Neither political freedom nor economic freedom is very important in determining economic growth.
D.
Economic freedom is more important, which can then lead to political freedom.
Answers
The correct alternative is letter A. Political freedom is more important, which can then lead to economic freedom.
How does political freedom lead to economic freedom?Political freedom is a system that converges with democratic ideals, that is, greater freedom of social life and private property, which generates less state intervention in the economy, generating incentives for entrepreneurship and economic freedom.
Therefore, the greater the political freedom, the greater the economic freedom, which directly influences a country's economic growth rates.
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brenda apologized to kordell for an e-mail that upset him. she said she had chosen an inconsiderate way of stating her idea, and that she’d be happy to discuss it further. brenda is:
Answers
The behavior or disposition displayed by Brenda that was described above shows consideration behavior, therefore, Brenda can be said to be: expressing consideration behavior.
Consideration behavior can be described as exhibiting a friendly and supportive disposition by considering the interests of others. It also entails effectively communicating openly with others, having respect of their ideas and showing concern for their feelings.
Thus, the behavior or disposition displayed by Brenda that was described above shows consideration behavior, therefore, Brenda can be said to be: expressing consideration behavior.
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