Answer:
The answer is D. $3,750
Explanation:
This is an unearned revenue because the fee covers a service that will be rendered for a period of 12months(a year).
Unearned revenue is categorized as a liability because the customer has not fully exercised all its services/benefits.
So as this magazine is delivered monthly, this unearned subscription revenue decreases and revenue increases.
To calculate what will be earned monthly:
$15,000/12months
=$1,250.
So For January - $1,250
February- $1,250
March -. $1,250
So for the first quarter(January to March), $3,750 will be recognized as revenue while the unearned subscription revenue decrease by $3,750.
Alternatively, since 3 months make a quarter and we have 4 quarters in a year, it can be calculated as:
$15,000/4
$3,750.
Therefore, subscription revenue of $3,750 will be recognized every quarter.
Answer:
Cardinality
Explanation:
In database design cardinality of relationship between two data tables shows the relationship between the rows and column of one table to other table. Cardinality commonly used are one-to-one cardinality, one-to-many cardinality and many-to-many cardinality. In which a single entry of the table related to only one and many in other table and many entries are related to many too.
Answer:
$600
Explanation:
Data provided in the question:
Number of diamonds with delta = 5
1 diamond purchased on June 1 for $500
2 diamond purchased on July 9 for $550 each
2 diamond purchased on September 23 for $600 each
Now,
under the LIFO (Last In First Out) , the unit purchased last will be sold first
Therefore,
Before December 24 t, last purchase was 2 diamond purchased on September 23 for $600 each
Hence,
The Cost of Goods Sold is $600
