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
USPshnik [31]
3 years ago
14

In 2016, Chaya Corporation, an accrual basis, calendar year taxpayer, provided services to clients andearned $25,000. The client

s signed notes receivable to Chaya that have a fair market value of$22,000 at year-end. In addition, Chaya sold a 36-month service contract on June 1, 2016, and received payment in full of $12,000.
How much income does Chaya report from these transactions in 2016?
Business
1 answer:
Artemon [7]3 years ago
7 0

Answer:

$27,333.33

Explanation:

The computation of the amount of income reported is shown below:

= Provided services to the customer + Payment received × number of months ÷ given number of months

= $25,000 + $12,000 × 7 months ÷ 36 months

= $25,000 + $2,333.33

= $27,333.33

The seven months is calculated from the June 1 to December 31. We assume the books are closed on December 31

You might be interested in
A person who is in the business of selling cars is called a:
True [87]
The person who sell cars would be salesmen
3 0
3 years ago
Read 2 more answers
Which general staff member directs all responses and tactical actions to achieve the incident?.
ch4aika [34]

The Operations Section Chief directs all responses and tactical actions to achieve the incident objectives.

<h3>What is Operations Section Chief ?</h3>

The Operations Section Chief, a member of the General Staff, is in charge of all operations directly related to the core mission. The Operations Section Chief initiates, supervises, and leads the execution of organizational elements in accordance with the Incident Action Plan.

The Operations Section Chief directs tactical incident activities to achieve incident objectives and oversees the implementation of the Incident Action Plan (IAP). 1. This role can be ordered as a stand-alone resource or as part of a National Incident Management System (NIMS) team (Incident Management Team).

The OSC1 works in the Operations functional area and reports to the Incident Commander (IC). The OSC1 performs duties corresponding with the Type 1 incident complexity and characteristics outlined in the Interagency Standards for Fire and Firefighting.

To know more about Operations Section Chief  follow the link:

brainly.com/question/25870256

#SPJ4

4 0
2 years ago
Orioles Company bought Special Products Division in 2017 and appropriately recorded $741,000 of goodwill related to the purchase
goldfiish [28.3K]

Answer:

No goodwill impairment should be recognized by Orioles in 2018

Explanation:

Data provided in the question:

Goodwill related to the purchase = $741,000

Fair value of Special Products Division = $5,600,000

Goodwill existing on December 31, 2018 = $595,000

Now,

Here, the fair value of division including the goodwill i.e $5,600,000 is lower than the fair value of division excluding the goodwill i.e $595,000

Hence,

There will be impairment loss

Hence,

No goodwill impairment should be recognized by Orioles in 2018

4 0
3 years ago
Shares of common stock of the Samson Co. offer an expected total return of 13.0 percent. The dividend is increasing at a constan
krok68 [10]

Answer:

b. 7.60 percent.

Explanation:

Dividend yield = expected return - dividend growth rate

  • expected return = 13%
  • dividend growth rate = 5.4%

dividend yield = 13% - 5.4% = 7.6%

Dividend yield is a financial metric that measures the rate of return that a stockholder receives every time a dividend is distributed. You can also calculate it by dividing dividends received by stock price.

4 0
3 years ago
Frank Gentry works as a sales representative for Tech-Med, a firm that manufactures hospital supplies. Recently, a prospective b
Margaret [11]

Answer:

a. presentation and demonstration

Explanation:

It is correct to say that Frank is in the presentation and demonstration stage in the sales process, as the question says that he showed the customer the variety of available beds designed for children, that is, he presented the product to the customer and demonstrated that it would satisfy your needs, in this case the seller reiterates the value and benefits of the product so that there is interest on the part of the consumer in making the sale.

3 0
3 years ago
Other questions:
  • The modern state and its economic and infrastructure developments allowed people to travel more freely, necessitating language s
    8·2 answers
  • What is the difference between federal purchases and federal​ expenditures?
    13·1 answer
  • If a contract involves a significant financing component:____________.
    7·2 answers
  • Which of the following is an example of "satisficing"? Group of answer choices A marketing researcher using the same format as h
    15·1 answer
  • Nonprice rationing devices are required
    12·1 answer
  • Discuss the link between polygamy and the dawn of agriculture
    13·1 answer
  • A 100,000 loan is being repaid in 360 monthly installments at a 9% nominal annual interest rate compounded monthly. The first pa
    15·2 answers
  • A benchmark market value index is comprised of three stocks. Yesterday the three stocks were priced at $30, $38, and $90. The nu
    13·1 answer
  • Which quality is a requirement In order for a destination to become a tourism destination area (TDA)?
    7·2 answers
  • The size and cut of a diamond allows people looking at a ring to roughly estimate its cost and make a judgment about the wearer'
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!