B- sales of goods and services
I believe the answer is B. False
Answer:
$8,333 per month
Explanation:
Based on the scenario being described within the question it can be said that Robbie should recognize service revenue of $8,333 per month. This is mainly due to the fact that he has estimated a TOTAL consideration of $50,000 for the six months. Therefore you would need to divide that by the six months which would leave you with a service revenue of $8,333 per month.
$50,000/6 = $8,333 per month.
Answer:
These costs should be reported on the income statement in the profit and loss section under selling and administrative expenses. Any liability arising from the employment benefits should be shown in the balance sheet under liabilities.
Explanation:
Answer:
b. $765000
Explanation:
Depreciation is a non-cash item and as such will not be considered in the computation of the amount to be disbursed in the month.
Given that the company pays for 70% of its purchases in the month of purchase and the remaining 30% in the next month for direct materials, it means the company will pay 70% of the material purchase in August and 30% of July's purchase in August.
Hence, The budgeted cash disbursements for August are
= 70% * $530,000 + 30% * $370,000 + $160000 + $73,000 + $50,000
= $765,000
