1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
VLD [36.1K]
4 years ago
8

Walden Company collects the annual fee for 100 magazine renewals. The annual price is $104 per subscription and covers 52 weekly

magazines. The subscription period is from July 1 till June 30 of the following year. During the current calendar year for each subscription, Walden should recognize
Business
1 answer:
ycow [4]4 years ago
4 0

Answer:

$5,200

Explanation:

Annual price for each subscription is $104 covering the period from July 1 to June 30 (that is 52 weeks).

Half of this period fall in the current calendar year. i.e. July 1 to December 31 = 26 weeks.

Therefore, the amount to be recognized in the current calendar year is half the total subscription fee.

Total subscription fee = $104 * 100 renewals = $10,400.

There, half of that which will be recognized in the current calendar year

= 50% of $10,400

= $5,200.

You might be interested in
Do all states have income tax
Aloiza [94]

Answer:

not all of them

Explanation:

Most Americans file a state income tax return and a federal income tax return. The states with no income tax are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. If you live in one of those seven states, or New Hampshire or Tennessee, you may not need to file a state return.

5 0
3 years ago
Read 2 more answers
A __________________________ policy will cause a greater share of income to be collected from those with high incomes than from
serious [3.7K]

Answer: Progressive tax policy

Explanation: In a progressive tax policy the rate of tax increases with the amount of taxable income, thus, making it possible to tax the people with higher income high tax and the lower section of the society a low level of tax.

The concept of progressive tax policy is based on the concept of ability to pay and not necessity to pay.

Thus, from the above we can conclude that right option is A.

4 0
3 years ago
Mostert Music Company had the following transactions in March: Sold music lessons to customers for $12,050; received $6,650 in c
bezimeni [28]

Answer:

Under Cash Basis all transactions for which cash is exchanged whether paid or received is accounted for.

Cash Basis Income Statement

Sales Revenue = $6,650

Customer Deposits = $4,550

Total Revenue = $11,200

Less: Expenses:

Wages              = ($700)

Net Income = $10,500

Under Accrual basis, the transactions are recorded as to the period they relate, and it is not necessary to exchange cash for the same.

Accrual Basis Income Statement

Sales Revenue = $12,050

Total Revenue = $12,050

Expenses

Wages = ($700)

Utilities = ($330)

Total Expenses = ($1,030)

Net Income = $11,020

7 0
4 years ago
Which is not a factor in determining the amount you should consume from each food group in the mypyramid plan?
Talja [164]

The correct answer is: Weight

May the Talos guide you

6 0
3 years ago
Read 2 more answers
Staffing plan that lists the roles and the proposed reporting structure that are required for the project. Typically, a project
Andru [333]

Answer: Project manager

Explanation:

A project manager is a qualified person in the field of project management. Project managers are responsible for the planning, directing, procurement and the execution of a project. Project managers are the first point of contact when issues arise from various departments in the organization before the problem reaches higher authorities.

The project manager is responsible for project management. The project manager does not really take part directly in the things done to produce the end result, but makes sure there is progress and fulfillment of the organizational goals.

4 0
3 years ago
Read 2 more answers
Other questions:
  • What do you call the second year of high school?
    10·1 answer
  • Research the Minnesota Importance Questionnaire (MIQ) and write one paragraph explaining the purpose and benefits of taking this
    13·2 answers
  • Which of the following is a common type of MSD?
    15·2 answers
  • Dramatic shifts in the workplace call for workers that can
    13·1 answer
  • Expected direct materials purchases in Metlock Company are $204000 in the first quarter and $264000 in the second quarter. 35 pe
    14·1 answer
  • Classify each of the statements as true or false.
    14·1 answer
  • Upon graduating from college, you make an annual salary of $58,381. You set a goal to double it in the future. If your salary in
    15·1 answer
  • Two new software projects are proposed to a young, start-up company. The Alpha project will cost $530,000 to develop and is expe
    11·1 answer
  • Marginal cost is ____________. a. The cost of producing an additional unit of output b. The total cost of production c. The reve
    15·1 answer
  • Current information for the Healey Company follows:
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!