The correct answer is True. When ownership of the items passes to the customer, revenue is realised. In addition to the requirements for determining when control transfers, a reporting entity must also satisfy certain additional requirements for a customer to have achieved control in a bill-and-hold arrangement.
A bill and hold sales arrangement allows for payment in advance of the item's delivery. This is a sales agreement when a product seller invoices a consumer up front but doesn't actually ship the thing until later.
In a bill and hold transaction, the vendor does not deliver the purchased goods to the customer, but the associated income is still recorded. Under this structure, revenue cannot be recognised until a number of severe requirements have been satisfied. The possibility of falsely recognising revenue too early exists otherwise.
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Answer:
$4,842,800.00
Explanation:
Units-of-production depreciation method calculates the amount to be deprecation depending on the asset usage for that period.
In this case, the total hours the asset is expected to work.
Cost of machine $ 40,000,000.00
Salvage value : $ 47,000.00
total hours machine should work: 33,000.00
Depreciable amount: = Cost price- salvage value
=$40,000,000.00-$47,000.00
=$39,953,000.00
Depreciation per hour= $39,953,000.00/33000
=1,210.6969
=1,210.70
Depreciation for 2018 =1210.7x4000
=$4,842,800.00
Answer:
Forgery refers to the crime pertaining to, alternation of legal obligation or rights in writing of another person. It is the production of the spurious work which is being considered to be genuine such as a painting, and coin. It is the action underlying imitation or forging a copy of the document, banknote, work of art and signature.
In the case, Debbie Brooks is solely responsible for the loss caused to her by the forged transaction. The fraud took place due to the recklessness of Debbie Brooks as she allowed Martha Tingstrom to handle her financial resources and accounts which in itself is a mistake. She failed to notice the transaction details promptly issued to her periodically by her bank and provided the details of such transaction to the bank within a period of 30 days. The bank is not liable as it has perform its obligation to the fullest. Therefore, it is ascertained that Debbie Brooks is solely responsible for the loss caused to her by the forged transaction made by Martha Tingstrom.
Explanation:
The correct answer to this open question is the following.
The business decision based on the company where you work would be this. To open a new small branch of the fast-food restaurant as a concession in the municipal stadium.
The incremental cost is the future costs as a result of this business decision. This means that we have to consider extra money on a monthly basis to pay for the rent of the concession booth at the Municipal stadium.
The opportunity cost is that instead of opening our branch in the new downtown mall, we decided to move with the stadium option. Having decided to be at the mall could have allowed us to have more clients on a daily basis, especially on weekends.
The sunk cost is a cost from the past, an historical cost that really is not important in the present time to make a decision. Maybe, just a reference to a case in the past. And that's it.
Here we can refer to a cost when we opened the first location of the restaurant, but it was five years ago. Those were different situations, necessities, and conditions.
Answer:
Variable cost Per Unit $2.50
Explanation:
Total cost at high activity = $8100
Total Cost at Low activity = $3600
Total Units at high activity = 2400
Total Units at low Activity = 600
Variable Cost Per Unit = (High activity total Cost - Low activity total cost ) / (High Activity unit - low activity units)
Variable cost per unit = ($8100 - $3600) / (2400 - 600) = $4500 / 1800 = $2.50
