All categories

3 years ago

Somerset leasing received $50,400 for 24 months' rent in advance. how should somerset record this transaction?

Business

1 answer:

butalik [34]3 years ago

3 0

Maybe on a balance sheet, to keep track of everything monthly

You might be interested in

Kuzio Corporation produces and sells a single product. Data concerning that product appear below:

lorasvet [3.4K]

Answer:

The overall effect on the company's monthly net operating income of this change is $ 6,900, increase

Explanation:

Company's monthly net operating income before the change:

Sales (5,500× $ 150) 825,000

Less Variable Costs( 5,500 × $ 60) (330,000)

Contribution 495,000

Fixed Expenses (208,000) (208,000)

Net Operating Income 287,000

Company's monthly net operating income after the change:

Sales ((5,500+150)× $ 150) 847,500

Less Variable Costs ((5,500+150) × $ 60) (339,000)

Contribution 508,500

Fixed Expenses (208,000+6,600) (214,600)

Net Operating Income 293,900

Effect on the company's monthly net operating income:

Net Operating Income - After Change 293,900

Net Operating Income - Before Change 287,000

Change in Net Operating Income 6,900

3 0

3 years ago

Pension data for David Emerson Enterprises include the following:_______.

MrMuchimi

Answer:

$151 million

Explanation:

Calculation to determine the service cost component of pension expense for the year ended December 31.

Projected benefit obligation, December 31 $485 million

Add Benefit payments to retirees, December 31 $58 million

Less Interest cost ($42 million)

(350*12%)

Less Projected benefit obligation, January 1 ($350 million)

Service cost $151 million

Therefore the service cost component of pension expense for the year ended December 31 will be $151 million

8 0

3 years ago

A special order offering to buy 112,000 units has been received from a foreign distributor. The only selling costs that would be

Rzqust [24]

Answer: $88.60

Explanation:

In negotiating a price for the special order, the minimum acceptable selling price per unit is calculated below:

Direct materials = $25.80

Direct labor = $31.80

Variable manufacturing overhead = $11.20

Selling cost = $19.80

Total variable cost = $88.60

7 0

3 years ago

On January 1, Garcia Supply leased a truck for a three-year period, at which time possession of the truck will revert back to th

Brut [27]

Answer:

PV=?

N=3

FV= 47,700

PMT= 17,000

I= 5%

Put values in financial calculator

Pv=$87,500

Now use this value to calculate residual value at the end of year 4

PV= 87,500

N=4

Fv=?

PMT= -17,000

I=5

$33,084= residual value in 4 years.

Explanation:

3 0

4 years ago

Frank has just completed a study in which he gave a survey to each of 7,000 employees and their supervisors in a large bank. His

vovikov84 [41]

Answer:

The declaration is mostly accurate or correct.

Explanation:

Task success can be induced by work satisfaction. But that could also be accurate the opposite way round, i.e. work success affects employee satisfaction.
The inference reached here does not specify which incident seems to be the reason and which one is the trigger's consequence. A significant direct connection between the two can not be identified. Other than that, there could be other variables that may control the two variables.

8 0

4 years ago