Homework Answers
Generally the repairs expenses are charged to Income statement as an expense , but where the repairs expense results in improvement of the efficiency of the asset , it is capitalized .
If there is capitalization of repair expense there will be increase in net income .and also there will be increase in the value of assets to which the repair is done .
Because there is no expense recorded in income statement the net profit will increase .
Answer : Net profit , B
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Question 10 Incorrect Which of the following would be increased by an accounting policy change involving...
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Question 30 incorrect Mark 0.00 out of 1.00 P Flag question Edit Question The accountant at...
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Question 7 Not yet answered Which of the following is not an accounting method that could...
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Question 1 Incorrect Mark 0.00 out of 1.00 Remove flag Cash Flow from Operating Activities Using...
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Question 4 (1 point) Which of the following statement(s) is/are INCORRECT (select all that apply)? Question...
Question 4 (1 point)
Which of the following statement(s) is/are INCORRECT (select all
that apply)?
Question 4 options:
Dry areas such as deserts are generally expected to get even
drier under climate change
Soil moisture remains largely unaffected by climate change
Australia is generally expected to get drier conditions
Temperature changes are expected to be the most extreme in
equatorial regions
Question 5 (1 point)
Which of the following statement(s) is/are INCORRECT (select all
that apply)?
Question 5 options:
The...
Question 9 Incorrect Most accounting policy choices affect both the income statement and the balance sheet. Select the balance sheet account(s) that would be affected by a policy choice at the same time as the cost of goods sold income statement account. Mark 0.00 out of 1.00 Flag Select one: O a. Accounts receivable x incorrect. Read 16.2 Background to accounting policy choices: b. Prepaid expenses O c. Prepaid insurance O d. Property, plant and equipment O e. Inventories
Question 2 Incorrect Which of the following transactions may not give rise to revenues? Mark 0.00 out of 1.00 Flag question Select one: O a. Forgiveness of liabilities X Incorrect. Read '13.2 Revenue recognition! b. Sale of goods on credit c. Disposing of assets for book value d. Receiving government grants O e. Cash received for services provided
10:57 ขึ Your answer is incorrect. Question 4 Incorrect Mark 0.00 out of 1.00 P Flag question Two solutions, one with a mass of 16.66 g, initially at 20.86 °C, and one with a mass of 66.82 g, initially at 26.79 °C were combined which resulted in a reaction taking place. The solution after mixing and reacting had a temperature of 50.04 °C. Calculate the heat associated with the reaction, assuming all solutions have a heat capacity of 4.341 JK-1...
Question 30 incorrect Mark 0.00 out of 1.00 P Flag question Edit Question The accountant at Bewildered Company recorded the purchase of $1,200 of supplies for cash as a debit to Supplies for $1.200 and a credit to Accounts Payable for 51,200. Determine the effect of this error on the accounting equation of Bewildered Company Select one: A. Total Liabilities will be understated by 51,200 B. Total Equity would be overstated by $1,200 C. Total Equity would be understated by...
Question 3 Incorrect Mark 0.00 out of 1.00 P Flag question Identify and Compute NOPAT Following is the income statement for Lowe's Companies Inc. LOWE'S COMPANIES INC. Consolidated Statement of Earnings Twelve Months Ended (in millions) Feb. 1, 2019 Net sales $71,309 Cost of sales 48,401 Gross margin 22,908 Expenses Selling general and administrative 17,413 Depreciation and amortization Operating income 4,018 Interest expense, net 624 Pretax earnings 3,394 Income tax provision 1,080 Net earnings $2,314 Compute its net operating profit...
Question 7 Not yet answered Which of the following is not an accounting method that could be chosen by a company to increase reported profits? Marked out of 1.00 Flag question Select one: O a. Understating allowance for doubtful debts O b. Changing the method of inventory valuation in a period of rising prices O c. None of the options O d. Classifying long-term receivables as current assets Oe. Changing estimates of the useful life of plant and equipment
Question 1 Incorrect Mark 0.00 out of 1.00 Remove flag Cash Flow from Operating Activities Using the information for the Melville Corporation, calculate the cash flow from operating activities. Accounts payable increase $12,000 Accounts receivable increase 4,000 Accrued liabilities decrease 5,000 Amortization expense 7,000 Cash balance, January 1 22,000 Cash balance, December 31 23,000 Cash paid as dividends 31,000 Cash paid to purchase land 90,000 Cash paid to retire bonds payable at par 60,000 Cash received from issuance of common...
Question 4 (1 point)
Which of the following statement(s) is/are INCORRECT (select all
that apply)?
Question 4 options:
Dry areas such as deserts are generally expected to get even
drier under climate change
Soil moisture remains largely unaffected by climate change
Australia is generally expected to get drier conditions
Temperature changes are expected to be the most extreme in
equatorial regions
Question 5 (1 point)
Which of the following statement(s) is/are INCORRECT (select all
that apply)?
Question 5 options:
The...
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