It will take 2 years because eaxh year you get 4% of the $2500 which means $100 a year
Explanation:
The Journal Entry from July 1 and July 31 is shown below:-
1. Cash Dr, $560
To Deferred revenue $560
(Being cash is received)
2. Deferred revenue $336
To Sales revenue $336
(Being 12 months sales service is recorded)
3. Cost of goods sold $280
To Inventory $280
(Being cost of goods sold is recorded)
4. Deferred revenue ($336 ÷ 12) $28
To Service revenue $28
(Being Deferred service revenue is recorded)
Working Note:-
Cellular service revenue = offer price ÷ total cost of phone and service × cellular service
= (($560 ÷ ($448 + $672)) × $672
= $336
Answer:
$22
Explanation:
The computation of the predetermined manufacturing overhead rate per hour is shown below:
= Total Factory overhead ÷ Estimated labor hours
where,
Total factory overhead is
= Salary of factory supervisor + Heating and lighting costs for factory + Depreciation on factory equipment
= $37,000 + $22,300 + $5,600
= $64,900
And, the machine hours is 2.900
So, the predetermined overhead rate is
= $64,900 ÷ 2,900
= $22
This is the answer but the same is not given in the options
Answer:
The correct answer is: Money that the government has promised to pay in the future.
The correct answer is: Social Security.
Explanation:
Implicit liabilities in the macroeconomic context are implicit public debt. These are the payments that the government has to make in the future. It includes payments such as a pension, health insurance, social security benefits, etc. They are called implicit cause they are not included in debt statistics.
Explicit public debt is called liabilities and includes loans and bonds.
