Answer:
Accounts receivable - Audrey's Antiques $3036 Dr
Service Revenue $3036 Cr
Accounts Receivable - Michael's Motors $680
Service Revenue $680
Explanation:
Both the services are provided on account which means that the services are provided on credit and cash against these services are yet to be received. Thus we debit the accounts payable that will be creadted because of these services and credit the service revenue.
The company gives 8% trade discount for sevices above $1000 and as Audrey's Antiques receives services of $3300 it will receive the trade discount while Michale's motors will not receive it.
The trade discount is provided on the list price and it is not recorded in the books of accounts. Thus the service provided to Audrey's will be recorded at 3300 - (3300 * 0.08) = $3036.
In comparison to service providers "manufacturers produce goods prior to purchase, but most services are performed after purchase" is true of manufacturers.
<u>Answer:</u> Option B
<u>Explanation:</u>
An individual or a licensed company that makes completed raw material products in a desperate attempt to make a profit, thus known as a "manufacturer". Subsequently, the commodities are circulated to wholesalers and retailers who then sell to clients.
It is mainly the manufacturing mechanism that is responsible for enforcing and operating the manufacturing system to produce the product. Production may also include the purchase, distribution, and installation, as well as the component's physical manufacture. Instances of North America's major producers are General Electric, General Motors Corporation, Procter & Gamble, Boeing, General Dynamics, Pfizer and Precision Castparts.
Answer:
11.42%
Explanation:
NAV0= Mutual fund in asset/ Share
$528 million/ 16 million shares
=33
NAV1=578-578(0.02)/17
=578-11.56/17
=566.44/17
=33.32
Hence:
Return NAV1-NAV0+Received Income distribution +Capital gain distribution /NAVO
NAV0=33
NAV1=33.32
Received Income distribution = 3
Capital gain distribution= 0.45
33.32-33+3+0.45/33
=3.77/33
=0.1143×100
=11.42%
2042 will be the year the fund drys up, based on its current level.