1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
AURORKA [14]
1 year ago
7

As of december 31, $400 of revenues related to goods or services provided during the period were not collected nor recorded. wha

t adjusting entry is necessary at the end of the period?
Business
1 answer:
-Dominant- [34]1 year ago
4 0

In Receivable account relation to products or services delivered during the period, $400 in revenues were not collected nor recognized as of December 31. If an adjusting entry is required at the end of the quarter, should the Service Revenue account be increased by $400 as well as the Accounts Receivable account by $400.

The amount of money owed to a business for delivered or used but unpaid goods or services is known as Receivable account. The balance sheet classifies accounts receivable as a current asset. Any money owing by clients for purchases done using credit is known as Receivable account.

Receivable account is the term used to describe any unpaid invoices or cash that customers owe a business. The term describes accounts that a company is entitled to since it has provided a good or service. Accounts receivable, also known as receivables, are a type of line of credit that a business extends to its customers, and its terms typically call for payments to be made within a short time frame. Usually, it varies from a few days to a fiscal or yearly year.

Because there is a legal need that the customer pay the debt, businesses include Receivable account as an asset on their balance sheets.

Learn more about Receivable account here

brainly.com/question/24261944

#SPJ4

You might be interested in
When the price of hot dogs is $1.50 each, 500 hot dogs are sold every day. After the price falls to $1.35 each, 510 hot dogs are
Mkey [24]

Answer:

The correct answer is -0.2.

Explanation:

According to the scenario, the given data are as follows:

When rate = $1.50

Hot dogs sold at $1.50 = 500 units

And When rate = $1.35

Hot dogs sold at $1.35 = 510 units

So, we can calculate the price elasticity by using following formula:

Price elasticity = (%change in quantity ) ÷ ( %change in price )

Where, %change in quantity = (( 510 - 500 ) × 100) ÷ 500

=  1,000 ÷ 500

= 2

and %change in price = ((1.35 - 1.50 ) × 100) ÷ 1.50

= (-10)

So, by putting the value:

Price elasticity = 2 ÷ (-10)

= -0.2

Hence, the price elasticity of demand for hot dogs is -0.2.

8 0
3 years ago
Emma owns a flower shop in tampa. she pays $3,091 per month to lease her building, $2,208 in wages, $1,887 for flowers and other
Harrizon [31]

To solve for total costs = $3,091 + $2,208 + $1,887 = $7,186 then we need to divide this based on the 662 arrangements she normally produces = $10.85 per arrangement is what she spends.


To solve for total revenue = (611)($10.85) = $6,632 total costs for 611 arrangments. (611)($39) = $23,829 - $6,632 = $17,197 is the total revenue earned for 611 arrangments.

8 0
3 years ago
Which of the following is not a core component to the federal reserve bank?
galben [10]
The answer is b. department of the treasury
7 0
3 years ago
Read 2 more answers
During the obama administration, the development of low-cost batteries for electric cars received large amounts of federal fundi
UkoKoshka [18]
<span>The policies of the government directly affect how people react to certain things. When the government supports and believes in alternative source of energy they will approve fundings and subsidies efforts that will help promote or make that policy effective and this was the case of the Obama Administration. Moving towards the ideal levels of lowering the dependance on fossil fuel is not only good for the American economy in terms of not having to import refined crude oil for the transport and aviation industry but it's good for the environment at large.</span>
8 0
3 years ago
Read 2 more answers
Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations:
bekas [8.4K]

Answer:

$10, 950

Explanation:

What is the net operating income (loss) for the month under the variable costing?

Direct materials   $  20

Direct labour      62

Variable manufacturing overheads  8

Total variable costs    90

Sales ($120 x 8, 650)     $ 1, 038, 000

Variable expenses:

Variable cost of goods sold ($90 x 8650)    778, 500

Variable selling admin costs ($12 x 8, 650)   103, 800

Contribution margin      155, 700

Fixed expenses:

Fixed manufacturing overheads     135, 750

Fixed selling and admin       9, 000

Net operating profit      10, 950

7 0
3 years ago
Other questions:
  • Marigold Corp. manufactures a product with a unit variable cost of $100 and a unit sales price of $181. Fixed manufacturing cost
    11·1 answer
  • Elgin Battery Manufacturers had sales of $1,000,000 in 2009 and their cost of goods sold represented 70 percent of sales. Sellin
    8·1 answer
  • Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8,838. The
    7·1 answer
  • On Friday Huron Investments stock closes at $5.35. The Huron Investments 8.125% Convertible debenture maturing September 13, 204
    6·1 answer
  • Adrian and Fran operate their computer tech support company "Best Techs," as an S corporation, file the appropriate incorporatio
    5·1 answer
  • Sandhill Company purchases an oil tanker depot on January 1, 2020, at a cost of $639,700. Sandhill expects to operate the depot
    13·1 answer
  • I NEED HELP NOW PLEASE CAN SOME BODY HELO BY 9:20 OTHER WISE YOU WILL NOT GET THE BRAINLY CROWN
    9·1 answer
  • During September, the capital expenditure budget indicates a $520000 purchase of equipment. The ending September cash balance fr
    13·2 answers
  • Juanita makes $30 an hour at work. She has to take time off work to purchase her suit, so each hour away from work costs her $30
    14·1 answer
  • Describe why cash flow management is important to a business and its financial health. Use a recent financial news story as an e
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!