Answer:
Explanation:
Sales revenue to be reported - $1,000,000
Warranty expense - $40,000
Unearned warranty revenue - $12,000
Cash = 1,000,000+12,000 = $1,012,000
Warranty liability - $40,000
Answer:
B. a computer technician has installed the latest software updates, but you have not received an invoice or made payment
Explanation:
An accrued expense arises when a service has been rendered to an individual or organisation but to which the recipient of the service has not made payment for the service. The expense will be recognized in the period in which the service is rendered. In this scenario, the technician has rendered a service by installing software updates but the organisation has not made payment for the service provided. This represents an accrued expense.
Answer:
Option A, selling losers quickly, is the right answer.
Explanation:
According to some researchers and their investigation consistency factors has the potential to influence feelings of regret. Regret may emerge as a function of consistency and discrepancy between an individual's orientation and effort of an evaluative decision. Whenever the decision-maker approves an orientation of serving errors associated with the actions are generally more consistent and thus led to comparatively less feeling of regret.
Answer:
C. Depreciation is a current expense of a cash outflow in the current period.
FALSE depreciation is a deferral expense it do not related t oa cash flow
Explanation:
A. The income statement is put together at a specific point in time (end of a business quarter, or business year) and so the sale could be in one period and the cash received in another period.
CORRECT income statement end at a certain date and include transaction under accrual accounting which doesn't relate to cash disbursements or collection
B. The income statement contains the set of expenses associated with the products or services sold during the current operating period, with those expenses not associated with current cash flow labeled as nonminuscash expense items
CORRECT It works with accrual accounting
D. Companies depreciate fixed assets (such as office furniture, equipment, machinery, and buildings) over an assigned time period, but the initial cash outlay for the fixed asset typically occurs at the time the asset is acquired by the firm.
CORRECT the cash disbursements occurs at time zero. Then, the accounting distributes this over several period to decrease the impact in the first period
Answer:
gold,crops, crisis, poverty
