Answer:
addresses when and how revenue should be recognized in contracts that provide both goods and service to customers.
Explanation:
ASC 606 is a new standard that provides guidance on revenue recognition to the companies that provide goods and services to its customers. This standard is for both public and private entities. Earlier there were some variations in the revenue recognition process across different companies. The new standard has now simplified standardization in financial reporting.
<u>Solution and Explanation:</u>
The Journal Entries in the books of Brock's water enterprise is as follows :-
Date Particulars and details Debit($) Credit($)
Jan 5, 2018 Intangible Assets - Lease 905861
Lease Payable 905861
(Being Record the Lease)
Jan 5, 2018 Lease Payable 125000
Cash 125000
(Being Record Down Payment)
Dec 31, 2018 Amortization Expenses ($905861divide 10) 90586
Accumulated Amortization 90586
(Being Record the amortization)
Jan 5, 2019 Lease Payable 
62531
Interest Expenses 
62469
Cash 125000
(Being Record the Second Lease Payment)
Answer:
$110,000
Explanation:
Calculation for How much was stockholders' equity at the end of the year
Beginning balance of stockholders' equity $40,000
Add net income $90,000
Less the dividends paid ($20,000)
Ending stockholders' equity $110,000
Therefore How much was stockholders' equity at the end of the year is $110,000
Answer:
Cross functional teams
Explanation:
Cross functional teams is the term which is defined as the groups which are made up of the people from the different functional areas within the company or firm such as the human resources, marketing, sales, customer service and distribution.
Under this teams are effective as each member could address the business decision from different view points.
Therefore, the cross functional teams are the one which compromise of the employees stating the various company functions.
