Answer:
(B) A liability is recorded in October and revenue will be recorded in November
Explanation:
When a company receives money in advance of earning it, the accounting entry is a debit to the asset Cash for the amount received and a credit to the liability account such as Customer Advances or Unearned Revenues
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Answer:
Break-even point in composite units = 811 units
Explanation:
Number of modal;
5 Youth models
9 Adult models
6 Recreational models
Annual fixed costs total = $6,550,000
Find:
Break-even point in composite units
Computation:
Mixed contribution margin = 5[130] + 9[475] + 6[525]
Mixed contribution margin = 650 + 4275 + 3150
Mixed contribution margin = $8075
Break-even point in composite units = Annual fixed costs total / Mixed contribution margin
Break-even point in composite units = 6,550,000 / 8075
Break-even point in composite units = 811 units
Answer:
d. Time of the year
Explanation:
The<em> time of the year</em> reflects on fruit production (season growth). As most seasonal goods, its price varies drastically from the in-season period to the time when it's not in season. The temporal factor influencing this variation is the exact time of the year, as that is synonymous with the season period.
She should ask for help from either someone who has already completed it many times before, possibly older, or ask for information at the local IRS office, or call the IRS and ask for help.
