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Monica [59]
2 years ago
6

The current value in today's dollars of a future sum of money is called :______

Business
1 answer:
AleksandrR [38]2 years ago
4 0
Ans: (a) present value
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Binz Company provides cleaning services and sells garbage bins to office clients. On June 1^st, Binz delivered 100 garbage bins
VashaNatasha [74]

Answer:

The correct option is C.

Explanation:

Based on<em> IFRS 15 Revenue from Contracts</em> <em>with Customers:</em>

  • a contract is an agreement between two or more parties that creates enforceable rights and obligations.
  • revenue is an income arising in the course of an entity's ordinary activities.

The recognition of income arising from the supply of garbage bins and cleaning services is<em> bona fide</em>, since the two services are in the company's ordinary activities.

  • When the supply of the garbage bins took place, delivery took place and ownership has been transferred to the client, so Binz Company can recognize the income as earned.
  • The contract for 5-year cleaning services has to be recognized over the service year in line with accrual principle in accounting.
7 0
3 years ago
Kearney, Inc., makes kitchen tools. Company management believes that a new model of coffee grinder would sell well at a price of
IRINA_888 [86]

Answer:

$0.15 hours per unit

Explanation:

Given that

Direct material cost = $16

Assume Direct labor cost = X

Manufacturing overheads = $18

Profit margin = 20%

Direct labor per hour cost = $28

The computation of direct labor-hour input is shown below:-

Total manufacturing cost = X + $34

Total cost of goods sold = (X + $34) × 1.7 = $66

Direct labor cost per unit

= (X + $34) = $38.82

= $38.82 - $34

= $4.32

Direct labor hours per unit = Direct labor cost per unit ÷ Direct labor per hour cost

= $4.32 ÷ $28

= $0.15 hours per unit

3 0
3 years ago
Crane Company produces two models: Model 24 has sales of 300 units with a contribution margin of $40 each; Model 26 has sales of
pantera1 [17]

Answer:

Effect on income= 50*50= $2,500 increase

Explanation:

Giving the following information:

Model 26 has sales of 150 units with a contribution margin of $50 each.

To calculate the effect on income, we need to use the following formula:

Effect on income= number of units*unitary contribution margin

Effect on income= 50*50= $2,500 increase

3 0
3 years ago
The net income reported on the income statement for the current year was $240,000. Depreciation was $50,000. Accounts receivable
Ilya [14]

Answer:

a. $337,000

Explanation:

Calculation to determine How much cash was provided by operating activities

Using this formula

Cash provided by Operating activities=Net income+Depreciation+Account receivable+Inventories decreased -Prepaid expenses+Accounts payable increased

Let plug in the formula

Cash provided by Operating activities=$240,000 + $50,000 + $10,000 + $30,000 - $1,000 + $8,000

Cash provided by Operating activities=$337,000

Therefore the cash provided by operating activities was $337,000

3 0
3 years ago
An employee time ticket is an hour-by-hour summary of the employee’s activities throughout the day. True or false?.
padilas [110]

It is true that an employee time ticket is an hour-by-hour summary of the employee’s activities throughout the day.

A time ticket is used to track the hours for which an employee will be paid in the upcoming payroll. Employees' time tickets are reviewed and approved by a supervisor at the closing of each pay period. After which the payroll team use them to calculate the hours worked by an employee. This serves as a basis for calculating gross pay.

When an employee clocks in or out, they generally put a time ticket into a time clock that are printed in an oblong, thick paper shape. Usually time tickets are physical cards that are stamped with beginning and ending times of employees work days. The payroll accountant or bookkeeper creates time tickets after the pay month has ended.

To learn more about employee time ticket here

brainly.com/question/14338603

#SPJ4

7 0
2 years ago
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