Answer:
Debit Cash account (with the amount received)
Credit Accounts receivables (with the amount received)
Explanation:
Revenue is not recorded until the recognition criteria for the recognition of revenue has been met and this includes;
- the corresponding cost incurred in generating revenue can be reliably measured
- the goods or service has been delivered
Given that the service was performed in May, when half of the fee was received in April, the required entries then was
Debit Cash account
Credit Unearned revenue (with the amount received being half payment)
when the service was performed in May,revenue was earned
Debit Unearned revenue (with the amount received being half payment)
Debit Accounts receivable (with the amount yet to be received being half payment)
Credit Revenue (with the amount agreed for the service)
In June when the final payment is received,
Debit Cash account (with the amount received)
Credit Accounts receivables (with the amount received)
Answer:
c
Explanation:
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives. It is also known as implicit cost
When Yvette decided to wait in line, she missed the opportunity to tutor. This is her opportunity cost.
By giving up tutoring, she is losing $30. Thus her implicit cost is $30
When the price of a commodity is $11, where 1250 units are being bought and sold in a perfectly competitive market, the market price of the commodity will increase from its original price if the market is monopolized.
<h3>What is a perfectly competitive market?</h3>
In a market where there are less to zero restrictions for entry and exit of buyers and sellers in the market dealing in similar commodities, then such a market is known as a perfectly competitive market.
There is no pricing power in the hands of the buyers and sellers in the market, as there is no minimum or maximum limit on the number of sellers in the market, so the supply is not restricted in such a market.
Hence, it can be concluded that market prices are stable in a perfectly competitive market, and it generally increases in a monopolistic market.
Learn more about a perfectly competitive market here:
brainly.com/question/13961518
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The answer to this question is the letter "A" Cumulative Preferred Stockholders.
The cumulative preferred stockholders are paid on par value and not on the sales price. The dividends in arrears occur when the company does not pay dividends to cumulative preferred stockholders.
<span>Options are not given in the question, so here are the options;
a.) the electricity used at the park
b.) the mechanics who maintain the equipment
d.) the roller coaster
c.) the ticket-take
from these options, the correct option is "</span>d.) the roller coaster".
An amusement park refers to the park which highlights different attractions, for example, rides and diversions, and also different occasions for enjoying and entertaining purposes. An amusement park is a sort of entertainment place that bases its structures and attractions around a central theme, frequently including various regions with various subjects.
