Answer:
$3,000
Explanation:
Given that,
On April 1, 2021, total sales of one-year subscriptions = $12,000
Total number of months for which subscription is received = 12 months
Months Relating to year 2022 for which subscription received on 1 April 2021:
= From January 1, 2022 to March 31, 2022
= 3 Months
Deferred revenue is for the three months.
Therefore, the adjusted balance of Deferred Revenue on December 31, 2021 is as follows:
= Amount of subscriptions received × Time period
= $12,000 × (3 ÷ 12)
= $3,000
Answer:
Since the capital account and owner's equity accounts are expected to have credit balances, the drawing account (having a debit balance) is considered to be a contra account. In addition, the drawing account is a temporary account since its balance is closed to the capital account at the end of each accounting year.
Explanation:
Please Mark me brainliest
Answer:
40,000 kits
Explanation:
The computation is shown below:
Number of kits required to be sold to meet the goal = Total Contribution Margin Required ÷ Contribution Margin per Unit
where,
Total contribution margin required is
= Total fixed cost + operating income
= $250,000 + $90,000
= $340,000
And, the
Contribution Margin per Unit = Selling Price per Unit - Variable Cost per unit
= $11.50 - $3
= $8.50
So, the number of kits required is
= $340,000 ÷ $8.50
= 40,000 kits
Answer:
a. 56%
b. 62%
Explanation:
a. Janitorial costs are allocated based on square feet.
Assembly Department Square feet = 42,560
Total area for both departments = 42,560 + 33,440 = $76,000
Percentage of costs
= 42,560/ 76,000
= 56%
b. Security costs are allocated based on asset value.
Cutting Department Asset Value = $126,480
Total asset value for both departments = 77,520 + 126,480 = $204,000
Percentage of costs
= 126,480/ 204,000
= 62%
False - because not every business plans work
