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2 years ago

What is the term for the total amount of money produced by the sale of goods and services?

Business

1 answer:

ELEN [110]2 years ago

4 0

Answer:

D) revenue

Explanation:

Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations.

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Answer:

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Explanation:

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2 years ago

What are the advantages of electronic communication

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Answer:

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3 years ago

Read 2 more answers

Betsy Strand’s regular hourly wage rate is $24, and she receives an hourly rate of $36 for work in excess of 40 hours. During a

melamori03 [73]

<h3>Betsy’s gross earnings for January period is $1,140 </h3><h3>Betsy’s net pay for January period is $966.79 </h3>

Explanation:

Betsy Strand’s regular hourly wage rate = $24
Betsy Strand’s hourly rate for work in excess of 40 hours = $36
Betsy works during a January pay period = 45 hours.
Betsy's pay for January period = $24 * 40 + $36 * 5
Betsy's pay for January period = $1,140

Betsy’s gross earnings for January period is $1,140

Betsy’s federal income tax withholding = $86
FICA tax rate = 7.65%.
Betsy’s FICA Taxes Payable = $1,140 * (7.65 / 100)
Betsy’s FICA Taxes Payable = $87.21
Betsy’s net pay for January period = Gross earnings - Federal income tax withholding - FICA Taxes
Betsy’s net pay for January period = $1,140 - $86 - $87.21
Betsy’s net pay for January period = $966.79

Betsy’s net pay for January period is $966.79

6 0

3 years ago

A company has two departments, Y and Z that incur wage expenses. An analysis of the total wage expense of $19,000 indicates that

Xelga [282]

Answer:

Departmental wage expenses for Dept. Y = 8,750 and Dept. Z = 10,250.

Explanation:

Direct wages of Y and Z sum 2,000 + 3,500 = 5,500. The remaining expenses are the difference between total wage expense and direct wage expenses. That means indirect expenses are 19,000 - 5,500 = 13,500. These has to be allocated half for each department.

Dept Y expense is 2,000 + 13,500/2 = 2,000 + 6,750 = 8,750

Dept Z expense is 3,500 + 13,500/2 = 3,500 + 6,750 = 10,250

8 0

3 years ago

Kirkland sells season tickets for six events at a price of $48. For the 2013 season, 2,700 season tickets were sold.

alexira [117]

Answer:

a. Assets = Liabilities + Stockholders' Equity = $129,600

b. Debit Unearned ticket revenue for $129,600, and Credit Total revenue for $129,600.

c. It would be classified as an Unearned ticket revenue under the Current Liabilities on the balance sheet.

Explanation:

a. Use the horizontal model to show the effect of the sale of the season tickets. (Enter decreases to account balances with a minus sign.)

Note: See the attached excel file for the horizontal model showing the effect of the sale of the season tickets.

In the attached excel file, the following calculation is done:

Cash = Unearned ticket revenue = Price per season ticket * Number of season tickets sold = $48 * 2,700 = $129,600

Since Stockholders' Equity is equal to zero in the attached excel file, we have:

Assets = Liabilities + Stockholders' Equity = $129,600

b. Use the horizontal model (or write the journal entry) to show the effect of presenting an event.

The journal entry will look as follows:

General Journal Debit ($) Credit ($)

Unearned ticket revenue 129,600

Total revenue 129,600

(To record the effect of presenting an event.)

c. Where on the balance sheet would the account balance representing funds received for performances not yet presented be classified?

It would be classified as an Unearned ticket revenue under the Current Liabilities on the balance sheet.

Download xlsx

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2 years ago