answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Natali5045456 [20]
2 years ago
5

A flood damaged several vans belonging to a nongovernmental, not-for-profit organization. A professional mechanic repaired the v

ans at no charge, restoring them to the condition they were in just prior to the flood. How should the van repairs be recognized in the financial statements?a. Only a note disclosure would be required. b. As both an increase in the equipment account and an increase in contributions from donated services.c. As a decrease in accumulated depreciation- equipment, and an increase in contributions from donated services.d. As an increase in expenses and an increase in contributions from donated services.
Business
1 answer:
Westkost [7]2 years ago
5 0

Answer:

b. As both an increase in the equipment account and an increase in contributions from donated services.

Explanation:

When the flood damages the vehicles there was a loss in the value of the organisation's equipment. The actor of restoring it to its previous state will require an addition to equipment account. So there will be an increase in equipment.

The services provided by the mechanic were free and will be recorded as a donated service. This is an increase in contributions from donated services.

There is no expense recorded as the services were performed for free.

You might be interested in
Larkan & Tokodo is a financial institution that sells shares to investors. The funds resulting from the investments are pool
Shtirlitz [24]

Answer:

mutual fund

Explanation:

A mutual fund is an investment vehicle that collects money from investors (usually small investors)  and invests that money in purchasing and selling securities, e.g. bonds, stocks, etc. They are managed by a fund manager (usually not a person, but a company, in this case Larkan & Tokodo) that decides where to invest the funds. The value of a mutual fund is determined by the price of its shares that basically includes a fraction of the investment pool.

3 0
2 years ago
Read 2 more answers
Which of the following, if true, would strengthen the argument to use coercive techniques in this situation?A) The company is on
irinina [24]

Answer:

The correct answer is: the A option

If the company is on a tight deadline to complete a major project for an important client

Explanation:

If the company finds itself in difficult times due to work issues, then this weakens the argument for using coercive techniques.  

Now, if the company has the luxury of hiring temporary workers to take care of the backlog and finish it on time, then this could further weaken the need for coercion.  

If there is a highly skilled workforce, then the use of coercion can result in a reaction from employees. If employees are demotivated by the rigorous work culture, then the use of coercive techniques would only demoralize them further.

7 0
2 years ago
Octavia has received an email from a customer, asking her a question about a product. unfortunately, octavia doesn't know the an
4vir4ik [10]
What Octavia should do is send a quick reply explaining that she needs more time to consider the question. Say the customer is asking asking something really complicated, the receiver will might need more time to answer than an easier question.
8 0
2 years ago
Read 2 more answers
On January 1, 2021, Jalen Company purchased land costing $800,000. Instead of paying cash at the time of purchase, Jalen plans t
Alenkinab [10]

Answer:Jalen journal $

Date

Jan 1 ,2021

Land Dr. 860,887

Note payable Cr. 860,887

Narration. Issuance of note of above amount payable in four installment for purchase of land.

June 30,2021

Note payable Dr 215,221.64

Cash Cr. 215,221.64

Narration. Payment of first installment on land purchase.

December 31,2021

Note payableDr 215,221.64

Cash.Cr. 215,221.64

Narration. Payment of second installment on land purchase.

2. Balance on note payable as at December 31, 2021 $400,000

Balance on Interest expenses $30,443.28

Explanation:

The land account is debited to recognized it's purchase and a credit is made to the notes payable account to recognise the credit.

The total installment is debited for payment made in the first and second period.

The balance on the note payable represents the two outstanding principal payment of the $800,000 and the interest expenses represents the excess over the principal sum.

6 0
2 years ago
Dave and Ellen are newly married and living in their first house. The yearly premium on their homeowner’s insurance policy is $6
vfiekz [6]

Answer:

The answers are:

A) 4.23 years

B) 1.08 years

C) Off course I would recommend Dave and Ellen to install these safety items, not only because they save money but also because they are very useful.

Explanation:

The cost of the deadlocks including installation is $110 for each exterior door ($220 total). The cost for installing smoke detectors is $24 for each floor ($48 total).

The discount that Dave and Ellen can get is

  • $52 per year for installing the deadlocks
  • $26 per year for installing the smoke detectors

A) It will take Dave and Ellen 4.23 years ($220/$52) to recover the money spent on the deadlocks.

B) It will take Dave and Ellen 1.08 years ("26/$24) to recover the money spent on the smoke detectors.

3 0
2 years ago
Other questions:
  • Data were collected in twenty major urban areas on the percent of women in the labor force. Data were collected in 1968 and agai
    10·1 answer
  • Suppose that in Year 1 daily sales at Dave's Deli daily totaled $1,000, and daily sales at Bertha's Burgers totaled $1,500. In Y
    11·1 answer
  • Which of the following is NOT considered a descriptive analysis technique? a. Data fusion b. Data harmonization c. Neural networ
    5·2 answers
  • Pabon Corporation makes one product. Budgeted unit sales for August and September are 11,100 and 12,600 units, respectively. The
    10·1 answer
  • Which of the following is not part of the flow of events in variance analysis: Multiple Choice
    7·1 answer
  • Flare Co. manufactures textiles. Among Flare's 2016 manufacturing costs were the following salaries and wages: Loom operators $
    9·1 answer
  • Your enterprising uncle opens a sandwich shop that employs 6 people. The employees are paid $12 per hour, and a sandwich sells f
    6·1 answer
  • Enrollment at Bayside College keeps going up, despite tuition and fee hikes to help cover the cost of new wind turbines installe
    13·1 answer
  • Rondelle, the manager of a busy hair salon, knows that she needs to entrust many of her tasks to supervisors and other employees
    13·1 answer
  • Grand Lips produces a lip balm used for​ cold-weather sports. The balm is manufactured in a single processing department. No lip
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!