aloha company is starting its new fiscal year on july 1. the company has owned a specialized piece of equipment for three years that it depreciates using the straight-line method. the equipment was estimated to have a useful life of seven years, and the company feels that this estimate is still reasonable. which reversing entry should the company make on july 1 to reverse the adjusting entry recorded on june 30, the end of the fiscal year, for depreciation on the equipment?
Answers
On July 1, the company should make a reversing entry to reverse the adjusting entry recorded on June 30 for depreciation on the equipment. This involves debiting Accumulated Depreciation and crediting Depreciation Expense to cancel out the effect of the adjusting entry.
The reversing entry would involve debiting the Accumulated Depreciation account and crediting the Depreciation Expense account for the same amount that was initially recorded on June 30.
This will effectively cancel out the effect of the adjusting entry made at the end of the fiscal year. The purpose of the reversing entry is to simplify the accounting process and ensure that the correct depreciation expense is recognized in the new fiscal year.
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Related Questions
Under a periodic inventory system, purchase of inventory is recorded with a debit to
a accounts payable
b cash
c purchases
d inventory.
Answers
Under a periodic inventory system, the purchase of inventory is recorded with a debit to Purchases.
The correct answer is option c, Purchases. In a periodic inventory system, the purchase of inventory is not recorded directly into the Inventory account. Instead, it is recorded in a separate account called Purchases. The Purchases account serves as a temporary holding account to track the cost of inventory acquired during a specific period.
When the period ends, the inventory is physically counted, and the cost of goods sold is calculated based on the beginning inventory, purchases, and ending inventory. The Purchases account is then closed by transferring its balance to the cost of goods sold account. This method simplifies inventory tracking by separating the recording of purchases from the direct adjustment of the inventory account.
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You have established a new business in your neighbourhood
Explain how you would use power relationships to benefit your business
Answers
Answer:As a small-business owner, one of the most effective ways for you to compete ... Then plot them on a zip code map (easily found in most phone books). ... Understanding the importance of your marketing area will also help you ...
Someone who is______has the trait of being usually more responsible and a better planner than others around them.
a. fun
b. positive
c. negative
d. conscientious
Answers
Have a great day! :)
Answer:
D
Explanation:
(of a person) wishing to do what is right, especially to do one's work or duty well and thoroughly.
Which investment is better stocks, bonds, or mutual funds and why?
Answers
\(\text{Hello There!}\)
\(\bold{Stocks}\) \(\text{is the act of putting money in a business and expecting to make a profit.}\)
\(\bold{Bonds}\) \(\text{are more of a safe to invest in, however, you cannot sell them for 12 months.}\)
\(\bold{Mutual\;Funds}\) \(\text{ is the act of investing in securities with other investors}\)
Mutual Funds can be a good option if you're okay with the lack of investment decisions; however, people often lose money due to the risk of securities going down in value.
\({\underline{\underline{{Stocks}}}\) are going to be your best option for short-term investments.
\({\underline{\underline{{Bonds}}}\) are going to be your best option for long-term investments.
\({\underline{\underline{{Mutual\;Funds}}}\) are going to be your best option for investing in bigger stocks.
\(\boxed{There\;isn't\;a\;"best"\;option;\;it\;depends\;on\;what\;you\;prefer.}\)
\(\rule{300}{1.0}\)
Which portion would not be part of an investment portfolio? ( A ) A SAVINGS 529 PLAN ( B ) Equity investments in a company ( C ) a saving account ( D ) Commodities funds I picked ( A ) and it was wrong but when I checked 5.07 Unit Test: Saving and Investing Quiz flashcards it says ( a ) so where I go wrong. plus i got number 1 wrong to it says . ( 1 ) Which situation is a good reason to have a financial reserve that's larger than normal?
, having a large monthly car payment, ,
being able to find another job quickly if needed - I picked this one wrong again but the flash card said its this one
having mostly discretionary expenses
having an income that is fairly predictable
Answers
The portion that would not be part of an investment portfolio is : ( C ) a saving account
The situation that is a good reason to have a financial reserve that's larger than normal is: A. Having a large monthly car payment.
Which portion would not be part of an investment portfolio?1. Option C, a saving account, would not be part of an investment portfolio as it is a basic bank account that offers low interest rates and is typically used for saving money rather than investing.
The other options, A, B, and D, are all investment options that can be included in an investment portfolio
2. Having a large monthly car payment is a situation that would warrant having a financial reserve that's larger than normal. This is because the car payment is a fixed expense that must be paid every month, and in the event of a financial emergency or unexpected expense, having a larger financial reserve can provide a cushion and prevent defaulting on the car payment.
It is always a good idea to have a financial reserve that can cover at least three to six months of expenses, regardless of the specific situation.
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Anna and Bess are assigned to write a joint paper within a 24-hour period about the Pareto optimal provision of public goods. Let A denote the number of hours that Anna contributes to the project and B the number of hours that Bess contributes. The numeric grade that Anna and Bess earn is a function, 23 In(A + B), of the total number of hours that they contribute to the project. If Anna contributes tA, then she has (24 - A) hours in the day for leisure. Anna's utility function is UA = 23 In(A + B) + In(24 - A); and Bess' utility function is UB = 23 In(A + B) + In(24-B). If they choose the hours to contribute simultaneously and independently, what is the Nash equilibrium number of hours that each will provide? What is the number of hours each should contribute to the project that maximizes the sum of their utilities?
Answers
The Nash equilibrium number of hours Anna and Bess should contribute to the project that maximizes the sum of their utilities is 12.
Nash Equilibrium number of hours for Anna and Bess to provide:
In a Nash equilibrium, no player can benefit by deviating unilaterally from their current strategy.
If (a, b) is the Nash equilibrium, then we have, for Anna and Bess, respectively,
(∂UA/∂A)(a, b) = (∂UB/∂A)(a, b) and
(∂UA/∂B)(a, b) = (∂UB/∂B)(a, b)∂UA/∂A = (2/3) + (1/A) - (1/(24 - A))∂UB/∂A
= (2/3) + (1/B)∂UA/∂B = (2/3) + (1/B)∂UB/∂B = (2/3) + (1/A) - (1/(24 - A))
At the Nash equilibrium,
(∂UA/∂A)(a, b) = (∂UB/∂A)(a, b),
that is,(2/3) + (1/A) - (1/(24 - A)) = (2/3) + (1/B)
Simplifying the above expression, we get, B = (24 - A) * A / B
By symmetry,(∂UA/∂B)(a, b) = (∂UB/∂B)(a, b),
that is,(2/3) + (1/B) = (2/3) + (1/A) - (1/(24 - A))
Simplifying the above expression, we get,A = (24 - B) * B / A
Therefore, combining these two expressions, we get
A² = B * (24 - A)A² + AB - 24B = 0
We can factorize the above expression to get,
(A - 4) (A + 6) = B * 0Therefore, either A = 4 or A = -6.
Since A cannot be negative, A = 4.
The above equation now becomes,16 + 4B - 24B = 0B = 4/5
Therefore, the Nash equilibrium number of hours for Anna and Bess to provide are,
A = 4 and B = 4/5.
The number of hours that each should contribute to the project that maximizes the sum of their utilities:
To maximize the sum of their utilities, Anna and Bess must maximize their respective utility functions, UA and UB.
Let us differentiate UA with respect to A, and then differentiate UB with respect to B.
Then, ∂UA/∂A = (2/3) + (1/A) - (1/(24 - A))∂UA²/∂A² = -1/(A - 24 + A)²
= -1/A²∂UB/∂B = (2/3) + (1/B)∂UB²/∂B²
= -1/B²At the maximum,∂UA²/∂A² = 0 = -1/A²∂UB²/∂B² = 0 = -1/B²
Therefore, A = B = 12.
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Which activity will help you improve your verbal communication skills?
A.
learning to pronounce words correctly
B.
learning about gestures used by other cultures
C.
learning correct posture
D.
taking care with your appearance
Answers
A
Answer:
A
Explanation:
knowing how to speak words correctly can help ypu communicate with other people without a problem
What is a ledger?
A.
A company's main book for recording transactions
B.
A company's record of liquid assets
C.
A company's system of providing invoices to customers
D.
A company's record of insured assets
Please select the best answer from the choices provided
Answers
Answer:
A. A company's main book for recording transactions
Explanation:
Ledger is a company's main book for recording transactions. It is the principal book or computer file for recording and totaling economic transactions measured in terms of a monetary unit of account by account type, with debits and credits in separate columns and a beginning monetary balance and ending monetary balance for each account.
Answer:
A) company's main book for recording transactions
Explanation:
Please mark Brainliest.
What position would be the highest in a company's hierarchy?
A). director of finance
B). finance manager
C). accountant
D). finance administrative assistant
Answers
Answer: D. Finance administrative assistant
Explanation: search all the answers up to see if it matches CEO or is closet to the CEO job
the telephone has proven to be a good method of making appointments, keeping customers informed, and expressing appreciation, but it is an ineffective tool for building customer goodwill. TRUE/FALSE
Answers
The given statement ''the telephone has proven to be a good method of making appointments, keeping customers informed, and expressing appreciation, but it is an ineffective tool for building customer goodwillis '' is FALSE.
The telephone can be an effective tool for building customer goodwill. It allows for direct communication and provides an opportunity for personalized interaction with customers.
Through the telephone, businesses can address customer inquiries, resolve issues, and provide excellent customer service, which can contribute to building positive relationships and customer goodwill.
While other methods such as face-to-face interactions or personalized gestures may also be effective in building customer goodwill, the telephone can certainly play a significant role in this process.
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Peyton Corporation and Rogers Corporation operate in the same industry. Peyton uses the straight-line method to account for depreciation, whereas Rogers uses an accelerated method. Explain what complications might arise in trying to compare the results of these two companies.
Answers
Answer:
If both firms have a lot of depreciable fixed assets, using the MACRS depreciation schedule or some other type of accelerated depreciation method will increase their expenses during the first years resulting in lower operating income. This situation reverses in the later years when the depreciation expense becomes much lower, resulting in higher operating income. On the other hand, using straight line depreciation makes your depreciation expense more stable and sometimes even more realistic.
Companies use MACRS depreciation to lower their tax liabilities by lowering their income. Remember that $1 saved today is worth more than $1 saved tomorrow.
In this case, Rogers Corporation might yield a lower income during the first years that it depreciates its assets, but then it will show much higher income (during the last years). Peyton Corporation should show more stable income.
Think about a Toyota vehicle manufacturing facility that builds Camry cars from start to finish. How might the
manufacturing facility manager and employees attempt to solve problems:
. Before cars start being built down the manufacturing line?
. During the process of cars being built and moving down the manufacturing line?
. After all vehicles have been built for the day and the manufacturing line is idle?
Whoever is good with business and math can you please help me answer this im so stuck
Answers
The technique of solving problems which should be employed by the manufacturing facility manager and employees is; Before cars start being built down the manufacturing line.
Discussion:
In most manufacturing facilities like that which is described in this case;
Conceptual design is very much important prior to actual manufacture of the product. In essence, when solving problems, the manufacturing facility manager and the employees need to do so before cars start being built down the manufacturing line. Ultimately, this is to avoid design error which may render all of the products unfit for use.
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What is the difference between using an action button to play an audio file via 'play sound' and an audio clip set up through the Media Group?
Answers
Answer: The action button lets users play the audio file, the sound button will play an audio clip.
Explanation:
The action button lets users play the audio file once it is clicked or has a mouse over action over the assignment button. The sound button will play an audio clip that you have specified in the action settings dialog box.
In a(n) __________, an inexperienced worker learns by working alongside an experienced employee to master the skills and procedures of a craft
Answers
In a(n) apprenticeship, an inexperienced worker learns by working alongside an experienced employee to master the skills and procedures of a craft
How does investment in human capital impact a company's productivity?
The more workers a company has, the more it produces.
The more highly educated the workforce, the greater the production.
The more the workforce requires extensive training, the less production in the
long run.
The larger the workforce, the larger the management structure and the lower the
production.
Answers
Answer: Human capital is perceived to increase productivity and thus profitability. The more investment a company makes in its employees, the chances of its productivity and success become higher.
What advice or tips does Lauren Haugen have for people who are learning to manage their finances?
Answers
1. Set Financial Goals: Setting financial goals is essential to better manage your finances. Think about what you would like to accomplish and create short-term and long-term goals.
What is finances?Finances refer to the management, creation and study of money, investments and other financial instruments. Finances involve the process of acquiring necessary funds and exchanging available resources, such as money, investments and assets. Finances are used to purchase goods and services, and to manage risk and uncertainty.
This will give you something to work towards and keep you motivated.
2. Track Your Spending: Tracking your spending is one of the best ways to manage your finances. It will help you identify areas where you are spending too much and create an action plan to reduce unnecessary expenses.
3. Create a Budget: Creating a budget is one of the most important steps in managing your finances. A budget will help you see where your money is going and make adjustments to ensure that you are living within your means.
4. Save for Emergencies: It is important to save for emergencies so that you can be prepared for unexpected expenses. Make sure to set aside a portion of your income each month to create a cushion for unexpected expenses.
5. Invest for the Future: Investing for the future is a great way to ensure that you are making the most of your money. Consider putting a portion of your income into investments that can help you build wealth over time.
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financial accounting primarily deals with the methods accountants use to provide information to an organization’s internal users.
Answers
Financial Accounting primarily deals with the methods accountants use to provide information to an organization’s internal users is false.
The basic role of Financial Accounting is to allow outsider to assess the value of an association.
Financial Accounting is a specific piece of accounting including a course of recording, summarizing, and enumerating the bundle of trades coming about in view of business undertakings all through some unclear time span.
The structure directs the guidelines, cycles, and norms for monetary recordkeeping.
These exchanges are summed up in the readiness of fiscal summaries, including the balance sheet, pay proclamation, and income explanation, that record the organization's working exhibition over a predetermined period.
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Total marketing effort is a tocm usod to doscribe the critical decision factors that affect demand: price, atvertising, distribution, and product quality. Let the variable x ropresent total marketing effort. A typical model that is used to predict demand as a function of total marketing etfort is D= ax D. Suppose that a is a positive namber Different modeis resul from varying the constant b. Sketch the graphs of theso modols for b=0,b∗=1,01. What does each rsodel tel about the relationship botween demand and marketing effort? What assumptions are implied? Are they reasonable? Haw would one go about selecting the appropriate model? Drag each of the graphs above into the correct area below. Some graphs may not be used. What does the model for b=0 tell about the relationship between demand and marketing effort? Choose the correct answer below. A. As marketing effort increases, demand increases at an increasing rate. B. As marketing effort increases, demand decreases with diminishing returns. C. As marketing effort increases, demand increases linearly. D. As marketing effort increases, demand decreases linearly. E. Demand does not depend on marketing effort. F. As marketing effort increases, demand increases with diminishing returns: What does the model for b=1 tell about the relationship between demand and marketing effort? Choose the correct answer below. A. As marketing effort increases, demand decreases with diminishing returns. B. As marketing effort increases, demand decreases linearly. C. As marketing effort increases, demand increases linearly. D. As marketing effort increases, demand increases at an increasing rate. E. As marketing effort increases, demand increases with diminishing returns. F. Demand does not depend on marketing effort. What does the model for 0
Answers
The model for b=0 indicates that as marketing effort increases, demand remains constant.
The model for b=0 suggests that there is no direct relationship between marketing effort and demand. Regardless of the level of marketing effort, demand remains constant. This implies that other factors beyond marketing, such as consumer preferences, external market conditions, or competitor actions, have a greater influence on demand. The assumption here is that marketing efforts alone cannot significantly impact or stimulate changes in consumer demand.
It is reasonable to assume that in certain scenarios, marketing efforts may have limited effectiveness in driving demand, especially when other factors play a more dominant role. For example, in a saturated market where consumers are already aware of the product and have established preferences, increasing marketing efforts may not yield substantial changes in demand.
Selecting the appropriate model depends on the specific context and the available data. If there is evidence to suggest that marketing efforts have a significant impact on demand, then a model with a non-zero value of b may be more appropriate. However, if historical data or market research indicates that marketing efforts have minimal influence on demand, the model with b=0 would be more suitable.
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Steps in achieving success in strategic decision. (Subject: Enterprise Systems and Architecture).
Answers
The steps in achieving success in strategic decisions are to: Assess the Situation, Determine the Objective, Strategize, Develop and Monitor Plans and Adjust accordingly.
Assess the Current Situation: The first step is to understand the current situation. Understanding the present situation assists you in identifying the areas where changes are necessary. A successful strategic decision is based on a comprehensive understanding of the current situation.Determine the Objective: Define your goal to make a strategic decision. Identify what you want to accomplish. Having a clear objective enables you to develop a strategic plan.Define Strategies: Establish strategies for achieving your objectives. These strategies should be specific and should align with your objectives. Develop an Action Plan: Develop an action plan that outlines the steps necessary to implement the strategies. This plan should also include who will be responsible for each action.Monitor Progress: Check to see if the strategies and action plan are working as intended. Tracking progress will allow you to identify issues and adapt your strategy as needed.Adjust the Strategy: If the current strategy is not working, change it. Developing a successful strategic decision necessitates flexibility and the ability to adapt to changing situations.The above steps will ensure success in strategic decision-making.
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Which of the following is a country which operates under a traditional economy?
O North Korea
O Cuba
O Ecuador
O Sweden
Answers
Answer:
Dont worry about me, I just added this answer so the other person can get their brainliest because they definetly deserve it
Answer:
The answer is Ecuador :)
Gabriel Joseph has begun a new delivery and warehousing business. To begin his deliveries, he has leased a new truck. The 0ve-year lease arrangement provides formonthly payments based on the $35,000 cost of the truckand an a greedonrate of 1 5 percent compounded monthly.What will Mr.Joseph's lease payment be each month?
Answers
who takes music class
Answers
I use to take music class
Answer:
I do
Explanation:
a group of managers analyze both the internal strengths and weaknesses of their organization as well as the opportunities and threats of the external environment. what type of analysis is this?
Answers
SWOT analysis
A SWOT analysis is the type of analysis where a group of managers analyzes both the internal strengths and weaknesses of their organization and the opportunities and threats of the external environment. In a SWOT analysis, the acronym stands for Strengths, Weaknesses, Opportunities, and Threats. This analysis helps organizations identify their strategic advantages and areas for improvement.
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The total package that a firm offers employees in return for their labor is called?
A benefits package.
A wage.
Profit sharing.
A compensation system.
Answers
Answer:
A compensation system.
Explanation:
Sean works at Rowen Corp., an environmentally conscious apparel manufacturing company. He primarily focuses on the tastes and needs of the firm's customers. He achieves this by managing a team that regularly interacts with customers through various promotional activities and events. He also provides insights on how to produce eco-friendly outfits through his specialized knowledge of cost-efficient manufacturing processes. This implies that Sean:_______.a) is an HR professional.
b) encourages centralized decision making.
c) is a knowledge worker.
d) encourages a narrow business focus.
e) belongs to the external labor market.
Answers
Answer:
c) is a knowledge worker
Explanation:
A knowledge worker is an individual who is skillful, experienced, educated and whose duty is to apply his or her thinking creativity on the job. According to Peter Drucker, a knowledge worker is someone who is innovative and creative in terms of developing new products and services and one who always find a better way of doing things.
The job of a knowledge work is very complex hence involves expertise on the subject field. A knowledge worker most often develop new ideas and strategies to meeting needs of people rather than focusing on manual and repetitive work. Example of knowledge workers includes but not limited to engineers, scientists, physicians, lawyers etc.
an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
Answers
question one please. thank you
Answers
Answer:
companies like Nike Inc have mission statements to attract the attention of the public .. thereby making it more easy to sell their products in the market
The average peed of a car i x kilometre per hour. It left Delhi for Jaipur at 9:00a. M. At 1:00 p. M. , the detination wa till 50 km away. Expre the ditance between Delhi
and Jaipur in term of x
Answers
The distance between Delhi and Jaipur can be expressed as
d = x * 4 + 50
Where x is the average speed of the car in kilometers per hour.
The concept used to answer the question is distance, rate, and time. It states that distance is equal to the rate of travel multiplied by the time of travel. In this case, the average speed of the car is given as x kilometers per hour, and the time elapsed between 9:00 am and 1:00 pm is 4 hours.
The distance between Delhi and Jaipur can be expressed in terms of x as follows:
Let's call the total distance between Delhi and Jaipur as "d".
d = x * (1:00 p.m. - 9:00 a.m.) = x * (4 hours)
As per the given information, the destination was still 50 km away at 1:00 p.m., which means that the car has traveled only (d - 50) km by that time.
Therefore, we have:
d - 50 = x * (1:00 p.m. - 9:00 a.m.)
d = x * 4 + 50
So, the distance between Delhi and Jaipur can be expressed as d = x * 4 + 50
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In March 1999, the Baltimore Orioles traveled to Cuba for an exhibition game with the Cuban national team. Tickets were in high demand among Cuban baseball fans, but tickets were given out by invitation only. Tickets went to schools and sports clubs, selected on the basis of their affiliation with the Cuban government.
How did prices lead to greater fairness?
Answers
American baseball franchise Baltimore Orioles, headquartered in Baltimore, Maryland. The Orioles, who competed in the American League (AL), won the World Series in 1966, 1970, and 1983.
What is Baltimore Orioles?
Jim Palmer, a pitcher for the Baltimore Orioles, wins his 20th game of the season on September 26, 1971, becoming the fourth Orioles pitcher to reach that milestone in a single season. Since the 1920 Chicago White Sox pitching staff, the 1971 Orioles pitching staff was the first to field four 20-game winners.
Only minutes after both benches had vacated, you can watch as Toronto Blue Jays interim manager John Schneider is dismissed from the game against the Baltimore Orioles after seeming to debate balls and strikes with home plate umpire Jeff Nelson.
With a record of 78 wins and 84 loses, the 1999 Baltimore Orioles season saw the Orioles place fourth in the American League East.
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DeWayne likes and trusts his manager. He is loyal to her as a result. This describes ______ relations, which is the first situational characteristic
Answers
Answer:
leader-member
Explanation:
DeWayne likes and trusts his manager. He is loyal to her as a result. This describes leader-member relations, which is the first situational characteristic.
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