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Reil [10]
2 years ago
13

Revenue is properly recognized: Multiple Choice When the customer makes an order. Only if the transaction creates an account rec

eivable. At the end of the accounting period. When goods or services are provided to customers and at the amount expected to be received from the customer. When cash from a sale is received.
Business
1 answer:
Marianna [84]2 years ago
3 0

Revenue in a business transaction is recognized <u>When </u><u>goods </u><u>or </u><u>services </u><u>are </u><u>provided </u><u>to </u><u>customers </u><u>and at the </u><u>amount expected </u><u>to be </u><u>received </u><u>from the customer. </u>

<u />

<h3>What is revenue?</h3>
  • Refers to the amount paid to a company for the provision of goods and services.
  • Can only be recognized when that good or service has been provided to the customer.

Until a good or service is provided to the customer who bought it, revenue should not be recognized because it has not been earned by a company.

In conclusion, option C is correct.

Find out more on revenue recognition at brainly.com/question/1380073.

You might be interested in
Professor Shethinks Shesverybusy needs to allocate time this week for office appointments, so she needs to forecast the number o
Burka [1]

Answer: This Week's forecast  = 78 appointments

Explanation:

4 Weeks ago = 95 , 3 Weeks ago =80 , 2 Weeks ago = 65 , last Week = 50

forecast : 2 weeks ago = 90

alpha = 0.20

exponential smoothing = recent previous appointment x a + forecast(1-a)

Forecast (last week) = 65 x 0.20 + 90 x (1 - 0.20)

Forecast (last week) = 13 + 72 = 85

Forecast for this week = 50 x 0.20 + 85 x (1 - 0.20)

Forecast for this week = 10 + 68 = 78

This Week's forecast would be 78 appointments

7 0
3 years ago
On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,2
Svetradugi [14.3K]

Answer:

$31,100

Explanation:

On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300.

Therefore the amount of stockholders’ equity as of May 31 of the current year can be derived by the formula : Capital = Assets - Liabilities

<u>Assets</u>

Cash $20,500;

Accounts Receivable, $7,250;

Supplies, $650;

Equipment, $12,000

TOTAL = 40,400

<u>Liabilities</u>

Accounts Payable, $9,300.

Therefore stockholders’ equity = 40,400 - 9,300 = $31,100

7 0
3 years ago
Little LampLighter Inc has a book value of $10 million in debt; its bonds are trading at $900 and there are 11,000 outstanding.
kumpel [21]

Based on the amount of debt and equity that Little LampLighter has, the weighted average rate of return would be 12.3%.

<h3>What is the weighted average rate of return?</h3>

First find the total value of debt and equity:
= 10 + 25

= $35 million

The weighted average return is:

= (10 / 35 x 8%) + (25 / 35 x 14%)

= 2.286% + 10%

= 12.3%

Find out more on weighted average rate of return at brainly.com/question/17284158.

#SPJ12

7 0
2 years ago
Waterways Corporation is a private corporation formed for the purpose of providing the products and the services needed to irrig
zmey [24]

Answer:

Explanation:

PREPARE COST OF GOODS MANUFACTURED :

Beginning work in process 42000

Raw material consumed

Beginning raw material 38000

Add : raw material purchase 184500

Less : Ending raw material (52700)

Raw material consumed 169800

DIrect labour 42000

Factory overhead

Factory supplies used 16800

Factory utilities 10200

Depreciation factory equipment 16800

Indirect labour 48000

Property taxes 5500

Reent factory equipment 47000

Repairs factory equipment 4500

Total manufacturing overhead 148800

Total manufacturing cost 360600

Less : Ending work in process (52700)

Cost of goods manufactured

INCOME STATEMENT :

Sales revenue 1350000

Cost of goods sold

Beginning finished goods inventory 72550

Cost of goods manufactured 349900

goods available for sale 422450

Less : endin finished goods inventory (68800)

Cost of goods olsld (353650)

Gross profit 996350

Less : advertising expenses (54000)

Less : selling commission (40500)

Less : dep on office equipment (2400)

Less : office suppplies used (1600)

Less : other administrative exp (72000)

Less : Salaries exp (325000) (495500)

Net income 500850

BALANCE SHEET CURRENT SECTION :

ASSETS

Current assets

Cash 260000

Account receivable 275000

Prepaid exp 41250

Inventory

Raw material 52700

Work in process 52700

Finished goods 68800 174200

Total current assets 750450

8 0
3 years ago
In the quantity discount model, the optimum quantity will always be found on the lowest total cost curve.
Leno4ka [110]

In the quantity discount model, the optimum quantity is not always be found on the lowest total cost curve. Therefore, it's false.

<h3>What is optimum quantity?</h3>

It should be noted that optimum quantity simply means the economic quantity that is purchased.

In this case, in quantity discount model, the optimum quantity is not always be found on the lowest total cost curve. Therefore, it's false.

Learn more about optimum quantity on:

brainly.com/question/17192219

4 0
2 years ago
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