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2 years ago

On october 1 a client pays a company the full 12000

SAT

1 answer:

asambeis [7]2 years ago

3 0

Using the accrual method, the unearned revenue as of December 31 is $12,000.

<h3>What is Unearned revenue?</h3>

Unearned revenue can be defined as the amount a company received from their client for the service they are yet too rendered.

Since the company has received full balance for the services not yet provided. The unearned revenue as of December 31 will be $12,000.

Reason been that the amount that the client paid the company is for a year-long contract, hence the $12,000 represent a prepayment amount for the service the company is yet too rendered to their client

Thus, using the accrual method, the unearned revenue as of December 31 is $12,000.

Learn more about unearned revenue here:

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The break-even point is closest to $50,846.

Let understand that the break-even point refers to the point where the total revenue equals the total costs.

Below are steps to help us derive the break-even point.

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Sales $20,000 $39,000 $59,000

Variable costs $7,400 $6,170 $13,570

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Total Contribution margin ratio = Total Contribution / Total Sales

Total Contribution margin ratio = $33,150 / $51,000

Total Contribution margin ratio = 0.65

Total Contribution margin ratio = 65%

Break even point = Fixed costs / Contribution margin ratio

Break even point = $33,050 / 0.65

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In conclusion, the break-even point for the entire company is closest to $50,846.

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