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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

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E-Flix rents DVDs that are mailed out to customers upon demand. E-Flix has identified three activities involved in getting the v
bulgar [2K]

Answer:

b. $1.87

Explanation:

Number of order taking costs = $20,592

Number of orders = 187,200

Cost of activity

= $20,592 ÷ 187,200

= $0.11

The Statement of overhead allocated is given below:-

Number of orders = 17

Cost per activity = $0.11

Cost

= 17 × $0.11

= $1.87

Therefore, the overhead is applied to the Tucker family account for order taking costs $1.87

8 0
3 years ago
Company X has 2 million shares of common stock outstanding with a book value of $2 per share. The stock trades for $3 per share.
gladu [14]

Answer:

23.08%

Explanation:

The computation of the debt ratio is shown below:

Debt amount

= 2 million × 0.90

= 1.80 million

And,

Equity amount

= 2 million × 3

= 6 million

Now

debt ratio = debt amount  ÷ (amount of debt + amount of equity)

= 1.80 million ÷ ( 6 million + 1.80 million)

= 23.08%

4 0
3 years ago
Spree Company sold $769,300 of goods during the year at a cost of goods sold of $548,600. Inventory was $31,283 at the beginning
Zarrin [17]

Answer:

16.42

Explanation:

Data provided in the question:

Cost of goods sold =  $548,600

Beginning inventory of the year = $31,283

Ending inventory of the year = $35,538

Now,

the Inventory turnover ratio is calculated as;

⇒ ( Cost of goods sold ) ÷ ( Average inventory of the year )

Also,

Average inventory of the year = \frac{\textup{Beginning inventory + Ending inventory}}{\textup{2}}

= \frac{\$31,283+\$35,538}{\textup{2}}

= $33,410.5

Therefore,

Inventory turnover ratio = $548,600 ÷  $33,410.5

= 16.42

6 0
3 years ago
A person can file for trademark protection even if he or she has not yet used the trademark.
vova2212 [387]
The answer is true :)
7 0
2 years ago
Read 2 more answers
Suppose you have a two-stock portfolio consisting of Apple and Tesla stock. The portfolio weight of Apple is 25% and the rest is
iren [92.7K]

Answer:

Standard deviation = 47.69% (Approx)

Explanation:

Given:

Portfolio of Apple stock w1 = 25% = 0.25

Portfolio of Tesla stock w2 = 75% = 0.75

Standard deviation return Apple σ1 = 35% = 0.35

Standard deviation return Tesla σ2 = 60% = 0.60

Correlation coefficient ρ12 = 0.22

Find:

Standard deviation

Computation:

Standard deviation = √w1²σ1² + w2²σ2² + 2w1σ1w2σ2ρ12

Standard deviation = 0.4769

Standard deviation = 47.69% (Approx)

4 0
3 years ago
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