121.67 days
Days in inventory is a measure of the average number of days that inventory is held.
365 days / ($285,000 / (80000+110,000)/2))
365 / (285,000 / {190,000/2})
365/ (285000/95000)
365/3 = 121.67 (rounded)
<u>Answer:</u>
<em>An adjusting entry that increases an asset and increases a revenue is known as Accrued Revenue.</em>
<u>Explanation:</u>
when an organization has earned income yet hasn't yet gotten money or recorded a sum receivable For the<em> situation of gathered incomes</em>, we get money after we earned the income and recorded an advantage.
The modifying section for a collected income consistently incorporates a charge to an advantage account (increment a benefit) and an a worthy representative for an<em> income account (increment an income).</em>
Answer:
A) Lanni takes out a bank loan. It receives $50,000 in cash and signs a note promising to pay back the loan over three years. FINANCIAL ASSET CREATED: when the loan was received, a financial asset was created. Money is exchanged for a promissory note.
B) Lanni uses the cash from the bank plus $20,000 of its own funds to finance the development of new financial planning software. REAL ASSET CREATED: when the software was developed, a real asset was created. Money was invested in developing the software.
C) Lanni sells the software product to Microsoft, which will market it to the public under the Microsoft name. Lanni accepts payment in the form of 1,500 shares of Microsoft stock. FINANCIAL ASSET CREATED: when the software was traded, a financial asset was created. A real asset was traded in exchange for financial assets.
D) Lanni sells the shares of stock for $80 per share and uses part of the proceeds to pay off the bank loan." FINANCIAL ASSET DESTROYED: when the loan is paid back, the financial asset (loan) ceases to exist. When the money is paid back to the bank, the loan and the promissory note cease to exist.
