A prepayment that is originally recorded as an asset will be ______.

Answers

Answer 1

allocated to future accounting periods equally over the periods receiving the benefit.

Related Questions

Pina Colada Company has the following balances in selected accounts on December 31, 2022.
Accounts Receivable
$ 0
Accumulated Depreciation—Equipment
0
Equipment
9,240
Interest Payable
0
Notes Payable
13,200
Prepaid Insurance
2,772
Salaries and Wages Payable
0
Supplies
3,234
Unearned Service Revenue
39,600
All the accounts have normal balances. The following information has been gathered at December 31, 2022.

1. Pina Colada Company borrowed $13,200 by signing a 12%, 1-year note on September 1, 2022. Interest will be paid when the note is repaid.
2. A count of supplies on December 31, 2022, indicates that supplies of $1,188 are on hand.
3. Depreciation on the equipment for 2022 is $1,320.
4. Pina Colada paid $2,772 for 12 months of insurance coverage on June 1, 2022.
5. On December 1, 2022, Pina Colada collected $39,600 for consulting services to be performed evenly from December 1, 2022, through March 31, 2023.
6. Pina Colada performed consulting services for a client in December 2022. The client will be billed $5,544.
7. Pina Colada pays its employees total salaries of $11,880 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of 2022.

Answers

The appropriate journal entries to record the transactions are: Debit Interest expense $528; Credit Interest payable $528.

Journal entries

Pina Colada Company journal entries

Debit Interest expense $528

Credit Interest payable $528

($13,200×12%×4/12)

Debit Depreciation expenses $1,320

Credit Accumulated depreciation equipment $1,320

Debit Supplies expenses $2,044

Credit Supplies 2044

(3234-1,188)

Debit Insurance expenses $1,617

Credit Prepaid insurance $1,617

($2,772×7/12)

Debit Unearned service revenue $9,900

Credit Service revenue $9,900

($39,600×1/4)

Debit Accounts Receivable $5,544

Credit Service Revenue $5,544

Debit Salaries and wages expenses $7,128

Cred it Salaries and wages pay $7,128

($11,880×3/5)

Therefore the appropriate journal entries to record the transactions are: Debit Interest expense $528; Credit Interest payable $528.

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

#SPJ1

Managers make assumptions in CVP analysis. These assumptions include: (Check all that apply.) Multiple select question. some units produced are not sold. constant total variable costs. costs can be classified as variable or fixed. costs are linear within the relevant range. constant unit sales. constant fixed cost per unit.

Answers

The assumptions that are made in CVP analysis includes the following:

costs can be classified as variable or fixed.costs are linear within the relevant range.constant fixed cost per unit.

What is CVP analysis?

Cost Volume Profit analysis is the type of analysis that has to do with the cost accounting. This type of analysis is one that takes the impact of the various costs and volume on profit.

It helps to check how the changes that occur in the variable and the fixed cost affect profit.

Answers

Alicia has to pay $15,500. Meanwhile, her insurance pays $25,000.

Solution

After reducing her policy coverage from $50,000 to $25,000 this implies that her insurance would only cover any claim up to a maximum of $25,000.

In this case, we subtract the amount to be compensated according to the verdict ($40,000) from $25,000 to get the amount not covered by her policy and which Alicia would have to pay herself

40000-25000 = 15000

$15,000 + $500 deductible = $15,500.

You can learn more about the implications of having an insurance policy here https://brainly.com/question/4953989

#SPJ1

write the following In Words 689·104

Answers

Six hundred eighty nine (689)

One hundred four (104)

How would you best describe a manufacturing employee who has lost his job because he was replaced by a robot (new technology) and does not have the skills necessary to help operate the robot

Answers

The manufacturing employee who has lost his job because he was replaced by a robot and does not have the skills necessary to help operate the robot can be best described as "structurally unemployed".

What is new technology?

Any set of productive techniques which offers a significant improvement (whether measured in terms of increased output or savings in costs) over the established technology for a given process in a specific historical context is termed as new technology.

Artificial Intelligence, or AI, has already received a lot of buzz in the past decade, but it continues to be one of the new technology trends because of its notable effects on how we live, work and play are only in the early stages.

Learn more about new technology here,

https://brainly.com/question/18698285

#SPJ1

A certain percentage rise in the money supply will inevitably lead to a predictable effect on nominal GDP __________. (Select all that apply. Hint: There are two correct answers.) Select all that apply: if velocity is constant over time if velocity is changing but in a constant and predictable way if velocity changes unpredictably over time

Answers

A certain percentage rise in the money supply will inevitably lead to a predictable effect on nominal GDP if velocity is constant over the time.

What is money supply?

The control of the availability of money in an economy during a particular financial period, is known as the money supply of such economy. When the money supply increases, nominal GDP also increases over time.

Hence, option A holds true regarding the increasing money supply.

Learn more about money supply here:

https://brainly.com/question/24249291

#SPJ1

An indirect measure of risk that tells us how much a firm earned for each dollar invested by its owners is called blank______. multiple choice question. the current ratio earnings per share return on sales return on equity

Answers

An indirect measure of risk that tells us how much a firm earned for each dollar invested by its owners is called return on equity.

What is return on equity?

Return on equity can be defined as a process use by company or organization to measure risk , profit or net income after tax divide by the company equity over a period of time.

Formula for Return or equity is:

Return on equity= Net income after tax/ Total owners' equity.

Therefore the correct option D.

Learn more about return on equity here:https://brainly.com/question/26412251

#SPJ1

Did you win or lose?

Your total income from the lottery: $

1000

Your total expenses related to buying lottery tickets: $

2080

Which answer is correct?

I won $

I lost $ 1080

Answers

Answer:

ur mum xdddddd

Explanation:

dddddddddd

The___________ made farming more eddcient meaning that less people were needed to work on farms. This created abundance of workers who could work in factories leadigng to the sucess of the __________

Answers

The Industrial Revolution made farming more decent meaning that less people were needed to work on farms. This created abundance of workers who could work in factories leading to the success of the production.

What is Industrial Revolution?

Industrial Revolution can be regarded as the period which involves the increase of industry as well as usage of plants and advance machineries for increase in production and efficiency.

Therefore , Industrial Revolution created abundance of workers who could work in factories leading to the success of the production.

learn more about Industrial Revolution at https://brainly.com/question/546336

#SPJ1

Adriana wants to work in broadcasting, but she sees that it might be hard to find work in that career. Why are there fewer jobs for reporters and broadcasters? A. The number of news outlets has not changed, even though the population has risen. B. There are more news outlets, so there are more people competing for jobs. C. There are fewer news outlets, so there aren’t as many jobs as there used to be. D. The number of readers and viewers have decreased, so the number of jobs has decreased too.

Answers

There are fewer jobs for reporters and broadcasters these days because the number of readers and viewers has decreased, so the number of jobs has also decreased.

Why are there fewer jobs for reporters and broadcasters?

What happens is that technological development led to the digital revolution, impacting the way in which people search for information for news, which occurs more quickly and instantly through the internet and social media.

Therefore, there is a transformation in the broadcasting sector, impacted by the current new information technologies

Find out more about digital revolution here:

https://brainly.com/question/10377689

#SPJ1

On January 1, 2022, Sunland Corporation had retained earnings of $548,000. During the year, Sunland had the following selected transactions. 1. Declared cash dividends $128,000. 2. Corrected overstatement of 2021 net income because of inventory error $44,000. 3. Earned net income $349,000. 4. Declared stock dividends $64,000.

Answers

The retained earnings balance at the end of the year is $661,000.

Retained earnings balance

Using this formula

Ending retained earning = Beginning retained earning balance - Cash dividend declared - Overstatement of inventory error + Net income - Stock dividend declared

Let plug in the formula

Ending retained earning= $548,000 - $128,000 - $44,000 + $349,000 - $64,000

Ending retained earning= $661,000

Therefore the retained earnings balance at the end of the year is $661,000.

Learn more about retained earnings balance here:https://brainly.com/question/15053078

#SPJ1

Read the passage.
What did the president mean when he said he had to
face "very difficult choices" when creating a federal
budget?
O deciding which country to borrow from to finance
spending
O deciding what would be funded and what would be cut
O deciding how to keep interest rates low on the
national debt
O deciding how much to increase tax rates

Answers

The President used "very difficult choices" to explains it is difficult to decide what would be funded and what would be cut

Who used the quote?

The quote was used by President Barack Obama during the 2012 Budget Message of the President.

Hence, he explained that it was difficult to decide what would be funded and what would be cut.

Therefore, the Option A is correct.

Answers

The following costs are classified as product costs (manufacturing overhead, direct labor, and direct material) and period costs (selling expenses, administrative expenses, and advertising expenses).

What are product costs?

Product costs refer to the costs directly incurred for production. They include:

Manufacturing overheadDirect laborDirect material

What are period costs?

Period costs are indirect costs that cannot be traced to production. Some of the period costs include:

Selling expensesAdministrative expenseAdvertising expenses

Thus, product costs include manufacturing overhead, direct labor, and direct material, while period costs include selling expenses, administrative expenses, and advertising expenses.

Learn more about product and period costs at https://brainly.com/question/24470417

#SPJ1

Imagine that there are currently three major cell phone service providers available in the united states. the largest one has enough money to buy out the other two companies and make one giant company. what is most likely to happen if the largest company attempts to buy out the other two companies? a. the government will approve this monopoly. b. customers will have more choice in their service provider. c. the new, large company can control all prices and services provided. d. osha will step in and make sure that this merger is not approved.

Answers

Analyzing the scenario, the new and the large company can control all prices and services provided, generating a monopoly situation.

What is monopoly?

It is a market situation where a company controls the market, being the entity responsible for establishing the price for a good or service, characterizing a situation of imperfect competition.

Therefore, in the monopoly market, consumers are harmed because they do not have the right to choose which products or services they want to consume, in addition to the fact that the price charged may be higher in a situation of perfect competition.

Find out more about monopoly here:

https://brainly.com/question/13113415

#SPJ1

A fuel company can sell 8 units of product at a selling price of $450. however, at a selling price of $445 the company can sell 9 units. what is the marginal revenue that is derived from selling the ninth unit

Answers

Based on the selling price of the 8 units and 9 units, the marginal revenue from selling the ninth unit is $405.

What is the marginal revenue when the 9th unit is sold?

This can be found as:

= Revenue from selling 9th unit - Revenue from selling 8th unit

Solving gives:

= (9 x 445) - (8 x 450)

= 4,005 - 3,600

= $405

Find out more on marginal revenue at https://brainly.com/question/10822075.

#SPJ4

Dominick earned $7.25 per hour until his state raised the minimum wage to $12 per hour, at which time his pay was increased to $12. Which law is the organization abiding by in this scenario

Answers

The law that Dominick's organization is abiding to when they increased his pay is the Fair Labor Standards Act (FLSA).

What does the Fair Labor Standards Act (FLSA) call for?

It states that employees should be treated in a fair manner that is consistent with the work they put in.

The Act makes this clearly by specifying that minimum wage laws should be abided by which was why the organization increased Dominick's wages when the minimum wage was raised.

Find out more on the Fair Labor Standards Act (FLSA) at https://brainly.com/question/14888150.

#SPJ1

When choosing a capital budgeting technique, the Blank______ may play an important role in the choice.

Answers

When choosing a capital budgeting technique, the projects may play an important role in the choice.

What is capital budgeting?

Capital budgeting refers to the decision-making process for rejecting and accepting projects or investments.

It refers to a process a business undertakes to evaluate the potential major projects or investments. When choosing a capital budgeting technique, the projects may play an important role in the choice.

Learn more about Capital budgeting here:

https://brainly.com/question/13126692

#SPJ1

in cell f5, insert a formula without using a function that multiplies the wholesale price
(cell b5) by the markup amount (cell l3). use an absolute reference to cell l3 in the
formula. copy the formula in cell f5 and paste only the formula and number formatting
in the range f6:f15.

Answers

By using an absolute reference to cell l3, the function that will multiplies the wholesale price by the markup amount In cell F5 is "B5*$L$3"

What is a cell?

In a spreadsheet. this refers to the rectangular area that is formed by the intersection of a column and a row.

On a typical spreadsheet, every cells have its assigned code from Combination of Number 1-10 and Alphabet A-Z.

However, in the question context, the function that will multiplies the wholesale price by the markup amount In cell F5 is "B5*$L$3"

Answers

The complete statement is "One natural consequence of mastering your job can be increased interest." Option C. This is further explained below.

What is interest?

Generally, interest is simply defined as the desire to understand more about something.

In conclusion, When you've mastered your profession, it's normal to feel more enthusiastic about it.

Answers

The answer is C, or You will be required to pay a high interest rate.

Explanation:

Leaving idle cash sitting in a bank will result in an inactivity fee, which technically is considered interest.

The typical amount of capital needed to launch a startup, according to the Bureau of Labor Statistics, is
$10,000 - $12,000
$100,000 - $500,000
$1000 - $5000
$25,000 - $200,000

Answers

Answer:

Explanation:

The typical amount of capital needed to launch a startup, according to the Bureau of Labor Statistics, is B)$100,000 - $500,000.

What percentage of small businesses fail within the first 5 years?

Consistent with the U.S. Bureau of hard work records (BLS), this isn't necessarily actual. Records from the BLS indicate that about 20% of recent businesses fail at some stage in the primary two years of being open, 45% at some stage in the primary five years, and sixty-five% during the primary 10 years. The simplest 25% of the latest corporations make it to fifteen years or greater.

In step with records published in 2019 with the aid of the Small enterprise management (SBA), about twenty percent of business startups fail within the first yr. About 1/2 succumb to commercial enterprise failure within 5 years. by way of 12 months 10, only approximately 33% live to tell the tale.

Learn more about the Bureau of Labor Statistics here: https://brainly.com/question/15296998

#SPJ2

Which investment type describes loans to business or governments

A. Bonds
B. IRAs
C. Mutual funds
D. Stocks

Answers

The investment type that describe loans to business or governments is called bonds.

What is a bond?

This is a debt instrument, in which the holder gets interest for a period of time. Here, when the bond matures, the holder gets back his or her money.

A bond is like a loan, with an option to receive interest.

Hence, the investment type that describe loans to business or governments is called bonds.

Learn more about bonds here: https://brainly.com/question/494152

#SPJ1

Answer: BONDS

Explanation:

A(n) _________ in current liabilities _________ net working capital, thereby _________ the risk of technical insolvency. (a) decrease; increases; increasing (b) increase; decreases; increasing (c) increase; increases; reducing (d) decrease; decreases; reducing

Answers

An increase in current liabilities decreases net working capital, thereby increases the risk of technical insolvency. Thus the option (B) is correct.

What is Working Capital?

Working capital refers to the current assets minus current liability. It tells about company's day to day operation and indicates about financial capacity to pay its debt within a year.

Increase in the current liabilities implies that there is a decrease in working capital. Therefore, it implies that company has increased its debt which can result in the risk insolvency.

Thus the option (B) is correct.

Learn more about Working capital here:

https://brainly.com/question/13126692

#SPJ1

For almost 20 years, Hank has been the top sales professional for Strickland Propane. He credits his success to following the first law of business, which is toMultiple Choicedo things right.get things done through people.innovate or die.take care of the customer.

Answers

the first law of business is to keep and create a customer.

this would make the answer D. Take care of the customer.

Instead of "discovering" what clients already know they need, they gain their allegiance by introducing them to a completely different way of thinking.

Customers expect salespeople to offer creative fixes for issues. They search for adaptability and imagination. demonstrates to me how to evade dangerous land mines.

Thus, Option D is correct.

What defines exceptional client service?

Going above and beyond to meet your customer's needs is what excellent customer service is all about. It entails much more than just offering timely and pleasant help. More significantly, it entails going above and above to ensure that your customers are more than just satisfied.

They are genuinely pleased with your offerings. This skill set includes the capacity to pay attention to a customer's issue, recognize potential conflict causes, generate alternate alternatives, and implement a solution. It's beneficial to demonstrate to clients your willingness to efficiently sort through the chaos.

For more information about Customer satisfaction refer to the link:

https://brainly.com/question/15298944

#SPJ2

Which sentence in the passage is an example of a real-world situation that could restrict Martha’s decisions?
Martha is in her late teens. She lost her father in the war several years ago. Just like her father, Martha wants to join the military and serve her country. However, Martha has several obstacles in her path. Martha’s mother is overly protective of her daughter and has always tried to keep her safe. Also, Martha is still tormented by the memories of the war and her father’s absence. To make matters worse, Martha might not qualify for the military because of her petite and fragile frame.

Answers

"Martha is in her late teens. She lost her father in the war several years ago. Just like her father...." the sentence in the passage is an example of a real-world situation that could restrict Martha’s decisions "To make matters worse, Martha might not qualify for the military because of her petite and fragile frame.". This is further explained below.

What is a passage?

Generally, a passage is simply defined as a part or chunk of a piece of writing.

In conclusion, Martha in the passage Martha saw a real-world situation and this was "To make matters worse, Martha might not qualify for the military because of her petite and fragile frame." was on that could that restrict Martha’s decisions

Answers

Increased spending by the government on health care will not reduce the inflation, but may help a country get out of recession.

What are the ways via which government can reduce the inflation?

Fiscal policy is best to adopt in the situation of the inflation. Government can increase the tax and minimize its spending to tackle the inflation situation.

In the inflation, the prices for everything increases rapidly and touches the ceiling. This can be avoid through the fiscal policy.

Fiscal policy can be used in the situation of the inflation.

Learn more about the inflation here:-

https://brainly.com/question/15692461

#SPJ1

Since 2009, the Age Discrimination in Employment Act: Multiple choice question. has been broadened to include those from 15-40 requires that age can be one of the determining reasons for any employment action against older workers requires that age must be the determining reason for discrimination to prove any employment action against older workers has been broadened to include those from 35-50

Answers

The Age Discrimination in Employment Act requires that age must be the determining reason for any employment action against older workers.

What is the age discrimination?

This refers to the treatment of an applicant or employee less favourably because of his or her age.

The Employment Act requires that age must be the determining reason for any employment action against older workers.

Therefore, the Option B is correct.

Answers

Based on the calculations, the yield on this corporate bond is equal to 9.14%.

What is yield?

Yield can be defined as a measure of the income returned or earned from an investment such as the interest earned from holding a corporate bond.

Mathematically, the yield on an investment can be calculated by using this formula:

Yield = Interest paid/Price paid

However, we would need to determine the interest paid as follows:

Interest paid = value of bond × Interest rate

Interest paid = 1000 × 0.08

Interest paid = $80.

Substituting the given parameters into the formula, we have;

Yield = Interest paid/Price paid

Yield = 80/875 × 100

Yield = 9.14%.

Read more on yield here: https://brainly.com/question/27531875

#SPJ1

What are the F. W. Taylor's

[tex] \large \sf \blue {\underline{Principles}} \: \: of \:\bf \: \underline\red{Management}[/tex]

Answers

Answer:

In his own words, these are: “Develop a science for each element of…work”; “Scientifically select and then train, teach, and develop the [worker]”; “Cooperate with the [worker] so as to [ensure] all of the work [is] being done in accordance with the principles of the science which has been developed”; and.

[tex]\huge\pmb{\red{A}\pink{N}\orange{S}\blue{W}{E}\purple{R}\purple{→}}[/tex]

Frederick Winslow Taylor is known as the Father of Scientific Management, which also came to be known as “Taylorism.”

Taylor believed that it was the role and responsibility of manufacturing plant managers to determine the best way for the worker to do a job, and to provide the proper tools and training.

Explanation:

Hope it helps you!!

A 4% S/A coupon bond with 4 coupons remaining has a BEY of 8.00%. You buy the bond a little over a month before you get the first coupon. Specifically, the fraction of the 6-month period that has already elapsed is 0.80. Calculate the dirty price of this bond.

Answers

A 4% S/A coupon bond with 4 coupons remaining has a BEY of 8.00%, is mathematically given as

DP=95.696. Option D is correct

What is the dirty price of this bond?

Generally, dirty price is simply defined as It's important to note that a "dirty price" is simply a bond pricing quotation that takes into account both the coupon rate and any interest that has already accumulated on the bond.

In conclusion, Dirty price

DP = (Clean price + interest Accrued)

Therefore

DP=0.80*(4%*100/2)+2*(1-(1+4%)^(-3.20))/(4%)+100/(1+4%)^(3.20)

DP=95.696

A4% S/A coupon bond with 4 coupons remaining has a BEY of 8.00%. You buy the bond a little over a month before you get the first coupon. Specifically, the fraction of the 6-month period that has already elapsed is 0.80.

Calculate the dirty price of this bond.

O 81.370

85.216

93.471

o 95.696