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3 years ago

Predictable books are useful in the early childhood classroom because they

Business

1 answer:

Feliz [49]3 years ago

7 0

Help the child see that they themselves can answer what will happen if they come across a situation like so

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The question of when revenue should be recognized on the income statement according to GAAP is addressed by the:

sleet_krkn [62]

Answer:

a. Revenue recognition principle

Explanation:

The revenue recognition principle refers to the principle in which the revenues are recorded when it is realized or earned. It follows the accrual basis of accounting

It is not recorded when the cash is actually received.

When the sale is made, the same is to be shown in the books of accounts

Therefore as per the GAAP, the revenue should be addressed by revenue recognition

hence, the correct option is a.

4 0

3 years ago

Heather's interest and gains on investments for the current year are as follows:

Leviafan [203]

Answer:

c. $1,400

Explanation:

Gross income

= Interest on U.S. government bonds + Interest on a Federal income tax refund + Gain on the sale of Madison County school bonds

= $700 + $200 + $500

= $1,400

Therefore, Heather must report gross income in the amount of $1,400.

5 0

3 years ago

In 1895, the first putting green championship was held. the winner’s prize money was $190. in 2014, the winner’s check was $1,49

Ket [755]

Answer:

The interest rate is 7.83%

Explanation:

The winner price in the year 1895 = $190

The winner price in the year 2014 = $1490000

Time duration between, 2014 – 1895 = 119 years

Now we have to find the interest rate at which the winner price has been increased. Thus, use the below formula to find the interest rate.

Future value = present value (1+ r)^n

Future value = $1490000

Present value = $190

n = 119

Now insert the values in the formula.

1490000 = 190(1 + r)^119

1490000 / 190 = (1+r)^119

r = 0.07826 or 7.83%

4 0

3 years ago

Your restaurant has assets of $64,342 and liabilities of $47,266. What is the equity of your business?

Alborosie

Answer:

Equity of the business= $17,076.

Explanation:

Equity as used in business is used to refer to the difference between the worth of a business (its assets) and what the business owes (debts and liabilities).

In other words, total equity refers to the value which is left in the company after the total liabilities must have been subtracted from the total assets.

The formula to calculate total equity is given below:

Equity = Assets - Liabilities

Therefore to calculate the equity above, we have:

Equity = $64,342 - $47,266

Equity = $17,076.

4 0

3 years ago

During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 46,000 mini refrigerators, of whi

notsponge [240]

Answer:

Sales 8,800,000

Less: Cost of goods sold (W1) 5,241,739.13

Contribution 3,558,260.87

Less: Fixed manufacturing cost 598,000

Less: Fixed selling and admin cost 320,000

Net Income 2,640,260.87

<em>(W1) Cost of goods sold</em>

Direct Material 3,450,000

Direct Labour 1,196,000

Variable manufacturing cost 782,000

Variable selling cost 600,000

Total variable cost 6,028,000

Less:closing inventory 786,260.87 (6,028,000/46,000*6,000)

COST OF GOODS SOLD 5,241,739.13

8 0

3 years ago