This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: ________ proposes a hypothetical sale price for cash. This hypothetical sale takes place in an open ... (Read 479 times)

fbq8i

  • Hero Member
  • *****
  • Posts: 527
on: Jul 6, 2018
________ proposes a hypothetical sale price for cash. This hypothetical sale takes place in an open and unrestricted marketplace.
 
  A) Book value
  B) Present value
  C) Historical value
  D) Fair market value

Question 2

Assume that Sophia Co pays its employees 250 per day and that pay day falls on Friday. Sophia Co employees work Monday through Friday. Assume the last day of the fiscal period falls on Wednesday, the adjustment for accrued wages would be recorded in the work sheet as a:
 a. credit to wages payable, 1,250.
  b. debit to wages expense, 1,250.
  c. debit to wages expense, 750.
  d. credit to cash, 750.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Eunice618

  • Sr. Member
  • ****
  • Posts: 350
Reply #1 on: Jul 6, 2018
Answer to Question 1

D
Explanation: D) Fair market value proposes a hypothetical sale price for cash. This hypothetical sale takes place in an open and unrestricted marketplace.

Answer to Question 2

C


fbq8i

  • Member
  • Posts: 527
Reply 2 on: Jul 6, 2018
Gracias!

recede

  • Member
  • Posts: 315
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

A hypothetical example of the bottleneck effect. A hypothetical example of the bottleneck effect.
Manta ray in the open ocean Manta ray in the open ocean
Gustave Caillebotte, Place de l'Europe on a Rainy Day. Gustave Caillebotte, Place de l'Europe on a Rainy Day.
Decimal Point Place Values Decimal Point Place Values
Mobilize the ankle using the heels of the hands. Place a palm on either side of the ankle just below ... Mobilize the ankle using the heels of the hands. Place a palm on either side of the ankle just below ...
Closed and Open Food Product Dating Closed and Open Food Product Dating
Video: Regulation of GFR: autoregulation via tubuloglomerular feedback, neural & hormonal regulation

For a complete list of videos, visit our video library