What are the effects on the accounting equation when an adjusting entry is made for goods or services provided during the accounting period related to an amount previously received in advance from a customer?.

Answers

Answer 1

The  effects on the accounting equation when an adjusting entry is made for goods or services provided during the accounting period related to an amount previously received in advance from a customer is: Total liabilities will decrease and total stockholders' equity will increase.

Effects on the accounting equation

When goods or services that provided during the accounting period are related to an amount that was previously received in advance from a customer this tend to mean that their will be a decrease in total liabilities while the  stockholders' equity will  tend to increase.

Stockholders' equity=Assets- Liabilities

Hence, Effect on accounting equation:

Total liabilities (decrease)

Total stockholders' equity  (increase)

Therefore the effects on the accounting equation  is Total liabilities will decrease and total stockholders' equity will increase.

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Related Questions

PLEASE ANSWER THESE IT WOULD BE A HUGE HELP
1. Investing in bonds is risk free. Investing in stocks is much riskier. Why do you think fictional advisors suggest that it’s a good idea to own both stocks and bonds?
2. Each time you sell a stock to make a profit, you must pay tax on the money you make (the
difference between the buying and selling price). This is called capital gains tax. Do you think
capital gains tax is a good idea? Why or why not?

Answers

Answer:

Explanation:

1.

Advisors say to invest in both so that if you lose all your money on the stock market, you will still have a good amount of money invested in bonds, still safe. However, if you’re lucky and the stocks you invested in go up in value, you can earn a large amount of money in addition to the bonds you’ve invested in.

Oh I have this same one, right now i only know 1 TOT

Answer:

1. Advisors say to invest in both so that if you lose all your money on the stock market, you will still have a good amount of money invested in bonds, still safe. However, if you’re lucky and the stocks you invested in go up in value, you can earn a large amount of money in addition to the bonds you’ve invested in.

2. This one is opinionated and depends on your beliefs.

Explanation:

how do you solve for an owner's equity​

Answers

Answer:

add up all of the business assets and deducting all of its liabilities.

Select the type of job best demonstrated in each example.
Linda works 15 hours a week as a member of her city council.
Rafael is a Municipal Clerk who has a retirement plan provided by his employer, the municipal government.
The number of hours that Amber works as an Air Crew Officer varies each week, but she is paid the same amount
each week no matter what

Select the type of job best demonstrated in each example.Linda works 15 hours a week as a member of her

Answers

Answer:

Part-time job

Job with benefits

Salaried job

Explanation:

I just took on edge

Answer:

The Person above me is correct

Part time job

Job With Benefits

Salaried Job

Explanation:

Wright Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on May 31, 2017, its Cash account shows a $27,500 debit balance. The company’s May 31 bank statement shows $25,800 on deposit in the bank. The May 31 bank statement lists $100 in bank service charges; the company has not yet recorded the cost of these services. Outstanding checks as of May 31 total $5,600. May 31 cash receipts of $6,200 were placed in the bank’s night depository after banking hours and were not recorded on the May 31 bank statement. In reviewing the bank statement, a $400 check written by Smith Company was mistakenly drawn against Wright’s account. The bank statement shows a $600 NSF check from a customer; the company has not yet recorded this NSF check. Prepare a bank reconciliation for the company using the above information.

Answers

Answer:

Please see solution below

Explanation:

Bank reconciliation as at June 31st.

•Bank statement balance  

$25,800

Add:

Bank service charges

$100

NSF check

$600

Wrong drawn

$400

Total        

$1,100

Adjusted bank balance

$26,900

Bank reconciliation as at June 31st.

•Cash book balance

$27,500

Add: outstanding checks

$5,600

Balance    

$34,100

Less: deposit in transit

($6,200)

Adjusted book balance

$26,900

a. if martha donates $20, is she acting in her own self-interest? explain your answer.

Answers

No, Martha is not acting in her own self-interest by donating $20.

When someone acts in their own self-interest, they prioritize their own personal gain or benefit. Donating $20 can be seen as an altruistic act, where Martha is willingly giving her money to support a cause or help others without expecting any personal gain in return.

By donating $20, Martha is demonstrating a willingness to contribute to a cause or support others in need, indicating a selfless act rather than one driven by personal gain or self-interest. Her actions align with a sense of empathy, compassion, or a desire to make a positive impact, rather than seeking direct benefits or advantages for herself.

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2. An A firm has sales of $10 million, variable costs of $4 million, fixed expenses of $1.5 million, interest costs of $2 million, and a 30 percent average tax rate. A) Compute its DOL, DFL, and DCL. B) What will be the expected level of EBIT and net income if next year's sales rise 10 percent? C) What will be the expected level of EBIT and net income if next year's sales fall 20 percent?

Answers

Answer:

A) DOL = 1.33 times; DFL = 1.80 times; and DCL = 2.4 times

B) Next years expected Earnings before interest and tax = $5.5 million; and Net years expected net income = $2.45 million

C) Next years expected Earnings before interest and tax = $2.5 million; and Net years expected net income = $0.35 million

Explanation:

Note: This platform did allow the explanation to be saved here as it was claiming it contains swearwords. Please, see the attached pdf file for the full answer and explanation.

1) The skills and knowledge a person has acquired through experience and/or
education.
O Human Capital
O Entrepreneurial talents
O Physical Capital
O Perfect competition

Answers

Answer:

O Human Capital

Explanation:

Human capital is an employee's knowledge, skills, and competencies that a company uses in productivity.  It is the attributes of labor that impact production and influence compensation. Human capital is enhanced through education, job training, work experiences, and research.

Human capital is compensated through wages and salaries. Its cost is monetized as labor and is one of the factors of production.

A. suppose the city decides to undertake a cleanup level of 25 units. the marginal benefit of cleaning up 25 units is $ ______. the marginal cost of cleaning up 25 units is $ _____. since the marginal benefit is (click to select) the marginal cost, the city should clean up cick to select) pollution. b. suppose the city decides to undertake a cleanup level of 200 units. the marginal benefit of cleaning up 200 units is $ _____. the marginal cost of cleaning up 200 units is $ _____. since the marginal benefit is (click to select) the marginal cost, the city should clean up [click to select) pollution. c. the optimal level of pollution cleanup is _____ units.

Answers

a) The marginal benefit is $1000 and the cost is 250

The marginal benefit is "more" than the marginal cost they should clean up 25 units of pollution.

b) The marginal benefit is 150 and the cost is 2500.

the benefit is "less" than the cost they should not clean 200 units of pollution.

c) The optimal level is 50.  

Pollution was the introduction of harmful contaminants into the natural environment. Pollution may be in any substance as well as energy form. Pollutants, and pollutants, are either foreign substances/energies as well as naturally existing contaminants.

A. Based on the given information, the marginal benefit of cleaning up 25 units is not provided, so it cannot be determined. The marginal cost of cleaning up 25 units is 1000,

B. Similar to the previous question, the marginal benefit of cleaning up 200 units is 2500, the benefit is "less" than the cost they should not clean 200 units of pollution.

C. The optimal level of pollution cleanup is also not provided, so it cannot be determined. The information needed to determine the optimal level of pollution cleanup is not provided in the given question. Additional information is needed to answer this question accurately. Please provide the necessary information for a more accurate response.

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Donald is a business development executive in a big retail company based in Omaha. His company now wants to expand and has sent Donald as their representative. Donald is also authorized to deal and negotiate with different vendors directly and in his own capacity. What role is Donaldplaying as per the contract law?

Donald is a business development executive in a big retail company based in Omaha. His company now wants

Answers

Answer:

C. Agent

Explanation:

Agent Law- the agent deals with third parties on behalf of the company in a contract and the company defines the control an agent can exert

To reduce the consumption of sugary soft drinks, suppose the government imposes a $2 per-unit sales tax on soft drinks.per-unit sales tax on soft drinks.Will the price of soft drinks increase by the full amount of the sales tax? Explain.Calculate the tax revenue the government can collect from the sale of soft drinks. Show your work.Will the consumer surplus increase, decrease, or stay the same after the tax?Calculate the deadweight loss created by the tax. Show your work.

Answers

The prices of the drinks are going to rise by the same amount as the sales tax imposed on the drinks.

It would rise by this same amount if the tax burden is on the producer of the drink and not the consumer.

Calculation of the tax revenue

The tax revenue is going to be the sales tax of $2 times the number of the soft drinks that was sold.

= $2*n

Where n is the number sold.

The consumer surplus is going to fall(decrease) due to the fact that there would be decreased demand. This would shift the demand curve backward.

The deadweight loss is the fall in demand that is due to market inefficiency. This is the cost.

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Which of the following best describes the law of supply and demand?
A. When a desirable product or service is plentiful, its value increases.

B. Businesses can charge extra for products that people use every day.

C. When there is a high demand for a product, it is hard to supply.

D. When a desirable product or service is scarce, its value increases,

Answers

Answer:

d is you answer

Explanation:

Answer:

D. When a desirable product or service is scarce, its value increases.

Explanation:

Because more people want a product that there is less of, meaning they will raise the price.

TRUE OR FASLE????

Supply and demand affects the prices of goods and services.

Answers

the answer to your question is true

Describe ways that employee ethics can affect a company

Answers

Answer:

they can affect the company in different ways

Explanation:

so they can affect either negativly and positivly so it could go both ways

Answer: Employees make better decisions in less time with business ethics as a guiding principle; this increases productivity and overall employee morale. When employees complete work in a way that is based on honesty and integrity, the whole organization benefits.

Explanation:

What is improved oven? in your own words.

Answers

Answer:

improved oven means improved cooking

if a firm in an oligopoly expands its market share at prevailing prices, its competitors multiple choice lose market share. increase their market share. increase their profits. ignore the expansion.

Answers

If a firm in an oligopoly expands its market share at prevailing prices, its competitors will lose market share.

Oligopoly is a market structure characterized by a small number of large firms that dominate the market. In this market structure, the actions of one firm can have a significant impact on the other firms in the market.

When a firm in an oligopoly expands its market share, it is likely to attract customers away from its competitors. This can result in a decrease in the market share of its competitors, as customers switch to the expanding firm.

In response, competitors may try to increase their own market share by offering lower prices, improving their products or services, or engaging in marketing campaigns. However, this competition can result in lower profits for all firms in the market, as they engage in price wars and spend more money on marketing and other activities to try to attract customers.

Therefore, firms in an oligopoly must carefully consider the potential impact of their actions on their competitors and the market as a whole. Expansion may result in short-term gains, but can also lead to long-term negative consequences if it leads to excessive competition and lower profits for all firms involved.

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what is the difference between simple interest and compound interest why do you end up with more money with compound interest

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The difference between simple interest and compound interest lies in how the interest is calculated and added to the principal amount.

Simple interest is calculated only on the principal amount of money borrowed or invested. It means that the interest is not added to the principal amount. On the other hand, compound interest is calculated on both the principal amount and the accumulated interest. This means that the interest earned on the investment is added to the principal amount, and the new total amount earns interest. The main reason why you end up with more money with compound interest is that the interest earned is reinvested back into the investment, and over time, it increases the overall value of the investment.

For example, let's say you invest $1000 at a 10% simple interest rate for 5 years. At the end of five years, you will earn $500 in interest, and your total amount will be $1500. However, if you invest the same $1000 at a 10% compound interest rate for five years, your total amount will be $1610.51 at the end of five years.

In conclusion, compound interest is more advantageous because it allows for more significant returns over time due to the reinvestment of the earned interest.

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Jim owns a gift shop in a commercial building. He pays rent for occupancy, plus maintenance and operating expenses. What kind of lease does Jim have

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There are different kinds of Lease. The kind of lease that Jim have is Net lease.

Net lease is simply known as a contractual agreement that entails a lessee to pays a part or all of the taxes, insurance fees, and maintenance costs for a specific property plus rent.

This kind of lease is known to be the opposite of a gross lease which is where the tenant pays only for a flat rental fee while the landlord is known to pay for the other costs. Jim therefore uses net lease.

See full question below.

Jim owns a gift shop in a commercial building. He pays rent for occupancy, plus maintenance and operating expenses. What kind of lease does Jim have?

Net lease

Percentage lease

Gross lease

Graduated lease

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question 10 which project management approach uses the 5s quality tool and implements a kanban scheduling system to manage production?

Answers

Lean project management employs the 5s quality tool and a kan-ban scheduling method to control production.

Is 5S an essential part of lean management?

The 5S system is part of Lean Manufacturing methodology for minimizing waste in a business. 5S is typically the initial step in reducing waste from production processes, which leads to improved bottom-line performance.

The 5S quality tool is used by lean to decrease waste in eight areas, save money, improve quality, and streamline processes. You can achieve more with less by eliminating waste-creating dys-functions, according to Lean principles. A Kan-ban scheduling method is used by Lean to control production.

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What do you think are the most important components of budgeting? Why?

Answers

Answer:

I would have to say figuring out ur cash flow where its going after u earn it and making sure u keep track of ur savings

Explanation:

Suppose a firm has the following cash flows associated with a project (due to the expenses of cleaning up the site and winding down operations at the end of the project). Due to the existence of multiple IRRs, you cannot use IRR to determine if the project should be undertaken. Calculate the MIRR (Modified Internal Rate of Return) for the project, assuming enn 6% and env-12%. Is this project justified? Year Cash Flow $5,000 $20,000 $12,000 $3,000

Answers

The MIRR (Modified Internal Rate of Return) for the project is 34.83% and the project is justified.

To calculate the MIRR for the project, we will follow these steps:

1. Calculate the future value (FV) of the cash inflows (positive cash flows) at the financing rate (enn).

2. Calculate the present value (PV) of the cash outflows (negative cash flows) at the reinvestment rate (env).

3. Calculate the MIRR using the formula:

MIRR = (FV/PV)^(1/n) - 1, where n is the number of years.

Given the cash flows: $5,000 (Year 1), $20,000 (Year 2), $12,000 (Year 3), and $3,000 (Year 4), and the rates enn = 6% and env = 12%, we will now calculate the MIRR:

Step 1: Calculate the FV of the cash inflows at 6%:

Year 1: $5,000 * (1 + 0.06)^3 = $5,957.20
Year 2: $20,000 * (1 + 0.06)^2 = $22,480.00
Year 3: $12,000 * (1 + 0.06)^1 = $12,720.00
Total FV = $5,957.20 + $22,480.00 + $12,720.00 = $41,157.20

Step 2: Calculate the PV of the cash outflow at 12%:

Year 4: $3,000 / (1 + 0.12)^4 = $1,914.35

Step 3: Calculate the MIRR:

MIRR = ($41,157.20/$1,914.35)^(1/4) - 1 = 1.3483 - 1 = 0.3483 or 34.83%

The project has a MIRR of 34.83%. Since the MIRR is higher than both the financing rate (6%) and the reinvestment rate (12%), the project is justified, as it is expected to generate a higher return than the required rates.

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The balanced scorecard was developed to help companies take a more ______________ and ______________ approach to measurement.

Answers

The balanced scorecard was developed to help companies take a more detailed and accurate approach to measurement.

What is a balanced scorecard?

A Balanced scorecard is used to measure the performance of an organization by identifying the various aspect of the business and providing feedback to organizations.

It measures the business processes, growth, customers, and finance of the business.

Therefore, the balanced scorecard was developed to help companies take a more detailed and accurate approach to measurement.

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If consumers start to believe they need a product, what is likely to happe A. The demand becomes less elastic. B. The demand becomes more elastic. C. The supply decreases. D. The price decreases.​

Answers

If consumers start to believe they need a product, it is likely that the demand for the good becomes less elasticity.

What is price elasticity of demand?

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

When consumers consider a good to be a necessity, the elasticity of demand becomes less elastic. The more elastic demand is, the more sensitive quantity demanded is to price changes. The less elastic demand is, the less sensitive quantity demanded is to price changes.

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Answer:

B

Explanation:

takin test now

An asbestos problem is sometimes best treated by
a. installing new distribution boxes.
b. Proper ventilation of the building.
c. Removal of chipping paint.
d. Leaving it alone.

Answers

An asbestos problem is sometimes best treated by leaving it alone. Asbestos is a fibrous mineral that was commonly used in building materials due to its fire-resistant properties. The correct answer is option D.

However, it has been linked to several health problems, including lung cancer and mesothelioma, which is why it is important to manage and control asbestos-containing materials.

If asbestos-containing materials are in good condition and not disturbed, they are less likely to release fibers into the air, which can be dangerous. In these cases, it is often best to leave the materials in place and monitor them regularly to ensure they remain stable.

If asbestos-containing materials are damaged or deteriorating, it may be necessary to remove or encapsulate them to prevent the release of fibers into the air. However, removal can be expensive and disruptive, so it should only be done by qualified professionals using proper safety precautions.

In summary, leaving asbestos-containing materials undisturbed is sometimes the best option for managing asbestos problems, as it can help prevent the release of fibers into the air. However, if the materials are damaged or deteriorating, removal or encapsulation may be necessary. Therefore, the correct answer is option D.

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if the demand for hair gel increases, the effect on the hair gel manufacturing job market will be to group of answer choices decrease the demand for labor and reduce equilibrium wages. have no impact on equilibrium wages. increase the demand for labor and increase equilibrium wages. reduce the supply of labor and increase equilibrium wages.

Answers

If the demand for hair gel increases, the effect on the hair gel manufacturing job market will be to increase the demand for labor and increase equilibrium wages.

If the demand for hair gel increases, it is likely that the effect on the hair gel manufacturing job market will be to increase the demand for labor and increase equilibrium wages. This is because an increase in demand for hair gel would lead to an increase in production, which would in turn require more workers to meet the increased demand. This increased demand for labor would result in higher wages for hair gel manufacturing jobs, as employers would need to offer higher wages to attract and retain workers.

However, it is important to note that this outcome is not guaranteed, as other factors may also come into play. For example, if there is a large pool of unemployed workers in the area, employers may not need to offer higher wages to attract workers, as there may be plenty of available labor. Similarly, if hair gel manufacturers are able to increase their production without hiring additional workers (for example, by investing in more efficient production technology), then the demand for labor may not increase as much as expected.

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ldentify the law that protects the consumer from having to pay a credit charge that is in a legitimate dispute.
a. Fair Credit Reporting Act
b. Preservation of Consumer's Claims
C. Fair Debt Collection Practices
d. Truth in Lending

Answers

Answer:

Well its called Fair Credit Billing Act but A is close enough so I guess A.

Also A is The Fair Credit Reporting Act (FCRA) is a federal law that regulates the collection of consumers' credit information and access to their credit reports.

Also the Truth-in-Lending Disclosure Statement provides information about the costs of your credit. Your Truth-in-Lending form includes information about the cost of your mortgage loan, including your annual percentage rate. So it could be that one too..

When looking at elasticity of demand, if a good has an increase of price and an increase in total revenue, is it elastic demand or inelastic demand?
A. elastic demand
B. inelastic demand

Answers

Price elasticity of supply is a metric used to describe how sensitive a commodity or service is to changes in the market price. Fundamental economic theory states that when a good's price increases, so will its supply.

What does a service example exactly entail?

A client, company, or government is willing to pay for an action or use that is classified as a service. You may use the work done by barbers, doctors, lawyers, mechanics, banks, insurance businesses, and others as an example. In a nation-state, fiscal union, or area, public services are those that must be paid for by the entire community. Essential services including electricity and energy, water and sanitization, trash collection, and garbage removal are crucial for raising people's quality of life.

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2) suppose a ten-year, $1000 bond with an 8% coupon rate and semiannual coupons is trading for a price of $1034.74. a) what is the bond's yield to maturity (expressed as an apr with semiannual compounding)? b) if the bond's yield to maturity changes to 9% apr, what will the bond's price be?

Answers

The  bond's YTM increases to 9% APR with semiannual compounding, its price will decrease to $941.47.

To find the bond's yield to maturity (YTM), we can use the present value formula and solve for the discount rate (YTM) that makes the present value of the bond's future cash flows equal to its current price:

The bond's YTM increases to 9% APR with semiannual compounding, its price will decrease to $941.47.

a) PV =  \((C / (1+r/2)^{n} ) + (C / (1+r/2)^{n-1} ) +.... + (C + FV / (1+r/2)^{n-1} )\)

PV =1034.74

b) price= \((40 / (1+0.09/2)^{1} ) + (40 / (1+0.09/2)^{2} ) +.... + (40 + 1000 / (1+0.09/2)^{0} )\)

Price = $941.47

Thus, if the bond's YTM increases to 9% APR with semiannual compounding, its price will decrease to $941.47.

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Which style of decision making will consumers who develop brand loyalty use?
A.extensive decision making
B.limited decision making
C.routine decision making
D.opportunity based decision making

Answers

Opportunity based decision making

The____characteristic of a private good is the ability of a seller to prevent people who did not pay for a product from obtaining its benefits.

Answers

The excludability characteristic of a private good is the ability of a seller to prevent people who did not pay for a product from obtaining its benefits. Private goods have two essential features: excludability and rivalry. Excludability is the ability of sellers to restrict access to the benefits that a good provides.

When a good is excludable, people who do not pay for the good cannot access its benefits.Rivalry refers to the notion that, when one person uses a good, others are prevented from using it at the same time. The fact that private goods are both excludable and rival in consumption creates a number of important economic issues. For instance, because a private good is excludable, sellers of that good can earn profits by charging for access to it.

Private goods are different from public goods, which are not excludable or rival in consumption. For example, it is not feasible to exclude people who did not contribute to the provision of public goods from enjoying their benefits. Public goods are generally provided by the government. A private good, on the other hand, is supplied by a market.

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Spell all words correctly.
Identify the marketing research technique implied in the scenario.
A sports beverage company has created a new ad for their product to alr on television. After the ad alrs, they intend to show the ad to a certain
number of customers and then ask them for their feedback regarding the ad. This company is engaging in the
market research technique.

Answers

The marketing research technique implied in the scenario is "advertising research."

What is marketing research?

Generally, Marketing research is the process of gathering and analyzing information about consumers, competitors, and the market environment to inform a company's marketing strategy and decisions. It typically involves collecting data through surveys, focus groups, interviews, and other methods, and then analyzing the data to gain insights about customer preferences and behaviors.

Correct! The marketing research technique implied in the scenario is advertising research, specifically pre-testing an advertisement before it airs to a larger audience.

This helps companies ensure that their advertising messages are effective and resonate with their target audience.

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