Answer:
January $153,825
February $248,600
March $301,650
Explanation:
Computation for cash collections from customers for each month:
January February March
January: ($205,100 x 75%=$153,825) ($205,100 x 25%=$51,275) $0
February: $0 ($263,100 x 75%= $197,325) ($263,100 x 25%=$65,775)
March: $0 $0 ($314,500 x 75%=$235,875)
TOTAL $153,825 $248,600 $301,650
Therefore cash collections from customers for each month is :
January $153,825
February $248,600
March $301,650
Answer:D
Explanation:
Inviting customers to write product review and recommendations
Answer:
Fee Receivable$7,200
To Service Fees Earned $7,200
(Being the service fess earned is recorded)
Explanation:
Th adjusting entry is shown below:
Fee Receivable$7,200
To Service Fees Earned $7,200
(Being the service fess earned is recorded)
For recording this we debited the fees receivable as it increased the assets and credited the services fees earned as it increase the revenues
Since the payment is made for 6 months but we have to recorded for 4 months i.e computed from September 1 to December 31
= $10,800 × 4 months ÷ 6 months
= $7,200
I think that it might be D
Answer:
Sixteenth (16th)
Explanation:
The sixteenth amendment in the United States Constitution provides the right to Congress whereby, it can levy the taxes in the form of income tax on the amount of income, without segregating it in any manner, that is in no manner it is apportioned in relation to any number or weightage of the population concerned of the state.
This amendment thereby provides for straight tax as discussed in the example.