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Oduvanchick [21]
3 years ago
10

Winter Company earned revenues of​ $150,000 in cash and​ $200,000 on account during 2018. Of the​ $200,000 on​ account, $63,000

was collected in cash in 2018 and the rest in 2019. The company incurred expenses of​ $115,000 in 2018 and made payments of​ $70,000 towards the expenses in 2018. What is net income in 2018 under accrual​ accounting?
Business
1 answer:
ICE Princess25 [194]3 years ago
8 0

Answer:

$235,000

Explanation:

Under the accrual accounting system, expenses are recognized in the period incurred and not necessarily in the period cash is paid.

Revenue is also recognized in the period earned and not necessarily when cash is collected.

Total revenue in 2018 = $200,000 + $150,000

= $350,000

Net income is the difference between the revenue and expense

Net income in 2018 = $350,000 - $115,000

= $235,000

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Khandi gives a presentation to advocate that her employer, Let-Us Ltd., which offers services such as personal shopping and even
Sladkaya [172]

Answer:

A). She cites a personal services company in another city that increased its business by adding dog walking to its services.

Explanation:

PREP method is demonstrated as the effective method or approach of presentation or speech that consists of four steps: 'P stands for 'point'(statement of claim), 'R stands for 'reasons'(explanation of the point), 'E stands for 'examples or evidence'(to support the claim), and lastly, 'P stands for point('justification and restatement of the claim').

According to this method, option A i.e. 'She cites a personal services company in another city that increased its business by adding dog walking to its services' reflects the third step that Khandi uses for her presentation. <u>This citation would not only support her claim but also establish the credibility of her claim</u> while the next step would prove how her claim is justified. Thus, <u>option A</u> is the correct answer.

7 0
3 years ago
Aryn is a music fan, and she enjoys learning about how speakers and sound systems are wired. She is reading books
Lana71 [14]

Answer:

an apprenticeship done on the job

Explanation:

An apprenticeship is a method for tutoring new practitioners of a profession.  It entails on-the-job training coupled with some study (classroom work and reading). Apprenticeship is provided by a skilled, experienced, and licensed professional. The apprentice gets to learn practical aspects of a profession while earning.

Aryn would be best with an apprenticeship as she will not spend a lot of time in class. She will, however, acquire the skills she needs. Some apprenticeship may lead to certification.

4 0
3 years ago
Sheffield Company had sales in 2019 of $1,842,400 on 65,800 units. Variable costs totaled $1,184,400, and fixed costs totaled $4
vlada-n [284]

Answer:

Assuming that no changes happened, 2020 sales and expenses should be similar to 2019's:

                                       Total                        Per unit

Total sales                   $1,842,400                   $28

Variables costs           <u>($1,184,400)</u>                  <u>($18)</u>

Contribution margin    $658,000                    $10

Fixed costs                 <u>($498,000)</u>                  <u>($7.57)</u>

Operating income       $160,000                    $2.43

5 0
3 years ago
Darren is eligible to contribute to a traditional 401(k) in 2019. He forgot to contribute before year-end. If he contributes bef
Irina18 [472]

Answer:

True

Explanation:

Base on the scenario been described in the question which, Darren was eligible to assist to a traditional of 401,000 in 2019, but we were told he forgot and later he paid in 15, June 2020, he is look as though he paid in 2019 because and it is true.

The reason why the answer is true is that Darren is that the time he paid the money in July 15, 2020, it was still within the time he allowed to still pay for the year 2019, that's why he considered as though he paid in 2019.

5 0
3 years ago
The production manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming fiscal y
kow [346]

Answer and Explanation:

The preparation of the direct labor budget is presented below:

Particulars  Quarter 1     Quarter 2      Quarter 3      Quarter 4      Total  

Required

Production   10,600           8,500            7,000           11,100          37,200

Multiply with

Direct labor

hours             0.35              0.35              0.35              0.35

Total

direct labors  3,710           2,975            2,450            3,885         13,020

Multiply with

Direct labor

cost                $20             $20             $20                 $20           $20

Total

direct labor

cost              $74,200      $59,500      $49,000         $77,700   $260,400

3 0
3 years ago
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