Answer:
(a) $1,200
(b) $330
Explanation:
(a)
- The advance payment was issued in 2018, however the items throughout 2018 were not shipped.
- The products were distributed throughout 2019 as well as the transaction for accounting information requirements was announced throughout 2019.
Therefore, in 2019, $1200 would include gross revenue
(b)
<u>Service contract for 6 months will be:</u>
Drake would include gross income throughout 2019 of ($)and gross income throughout 2020 of $120. In October year 2019, because a corporation offered a 6-month contract, total sales in 2019 represented just a 3-month service agreement.
<u>Service contract for 36 months will be:</u>
- Throughout 2019 gross sales, Drake would include .The residual balance would not have been all conducted until the close including its tax year of collection since the contract became sold through 36 month.
- The residual amount of is thus used throughout gross sales for 2020.
Consequently,
⇒ Cumulative gross income used throughout 2019 = total earnings of 6 months service agreement + gross income of 36 months service agreement
⇒
⇒ ($)
Explanation:
The journal entry is shown below:
Unearned rent revenue Dr $1,250
To Rent revenue $1,250
(Being the unearned rent revenue is recorded)
The computation is shown below:
= Received amount ÷ number of months × given number of months
= $5,000 ÷ 2 months × 0.5 months
= $1,250
So it include a debit to unearned rent revenue for $1,250 and credit the rent revenue for $1,250
The answer is globalization. Globalization prompts expanded rivalry. This opposition can be identified with item and administration cost and value, target advertise, innovative adjustment, fast reaction, brisk creation by organizations and so on. At the point when an organization produces with less cost and offers less expensive, it can build its piece of the overall industry.
Answer:
By comparing the opportunity cost of producing wine in the two countries, you can tell that SPAIN has a comparative advantage in the production of wine and DENMARK has a comparative advantage in the production of rye.
Suppose that Spain and Denmark consider trading wine and rye with each other. Spain can gain from specialization and trade as long as it receives more than 4 bushels of rye for each bottle of wine it exports to Denmark. Similarly, Denmark can gain from trade as long as it receives more than 1/10 of wine for each bushel of rye it exports to Spain.
Based on your answer to the last question, which of the following terms of trade (that is, price of wine in terms of rye) would allow both Denmark and Spain to gain from trade? Check all that apply.
- b. 8 bushels of rye per bottle of wine
- c. 9 bushels of rye per bottle of wine
Explanation:
Spain
wine = 4 bushels of rye
bushels of rye = 1/4 wine
Denmark
wine = 10 bushels of rye
bushels of rye = 1/10 wine
The answer is A)
Medicare tax is a kind of federal payroll tax