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
lidiya [134]
3 years ago
12

A flower shop makes a large sale for $1,500 on June 30. The customer is sent a statement on July 5 and a check is received on Ju

ly 10. The flower shop follows GAAP and applies the revenue recognition principle. When should the $1,500 be recognized
Business
1 answer:
Vsevolod [243]3 years ago
3 0

Answer:

June 30

Explanation:

As per the revenue recognition principle, the revenue is recognized when it is earned or realized that means service is performed but the payment is not made at the time of providing the service.

It is not get impacted when will be the cash received.

So, in the given case, the large sale is made on June 30 and on June 30 the revenue would be recognized.

You might be interested in
As the number of firms in an oligopoly increases, a. the total quantity of output produced by firms in the market gets closer to
Aleksandr [31]

Answer:

A is the correct answer.

Explanation:

Oligopoly is the market form in which a small number of large sellers dominate. It results in the reduction of the competition and leads to higher prices for consumers. they have their market structure. In oligopoly each firm stays aware of others,  hence their decisions influence others and vice versa. The developed economies are dominated by Oligopolies. For example, if the total market share of the American telecom companies (Verizon wireless, AT and T and T mobile ) is combined, it comes out to be more than ninety percent.

4 0
3 years ago
An organization is ready to launch a new product. When working through its pricing strategy, the organization should set the pri
eduard
The right answer for the question that is being asked and shown above is that: "at the price consumers are willing to pay." An organization is ready to launch a new product. When working through its pricing strategy, the organization should set the price of the product <span>at the price consumers are willing to pay.</span>
5 0
3 years ago
A monopoly is a market that has--
Dovator [93]

The answer is D, A single supplier of a good or service.

3 0
3 years ago
Read 2 more answers
Being aware of your expectations is an example of a. For introducing mindfulness to young children
ohaa [14]

Being aware of one's expectations is to keep them in check and to ensure that they are realistic. This is one of the ways to practice <u>Effective Parenting.</u>

<h3>Dangers of Unrealistic Expectations</h3>

Some of the dangers of unrealistic expectations are:

  • Friction
  • misunderstandings
  • frustrations
  • damage to the self-esteem of the kids and stifle healthy mental development of the kids

See the link below for more:
brainly.com/question/5345351

8 0
2 years ago
Suppose People's bank offers to lend you $10,000 for 1 year on a loan contract that calls for you to make interest payments of $
vodka [1.7K]

Answer:

10.38%

Explanation:

The formula to compute the effective annual rate of the loan is shown below:

= (1 + nominal interest rate ÷ periods)^ number of period - 1

The nominal interest rate is shown below:

= $250 × 4 ÷ $10,000

= $1,000 ÷ $10,000

= 0.1

Now the effective annual rate is

= (1 + 0.1 ÷ 4)^4 - 1

= (1 + 0.025)^4 - 1

= 1.025^4 - 1

= 10.38%

Since the interest rate is measured on a quarterly basis, we know there are four quarters in a year and we do the same in the calculation part.

This is the answer but the same is not provided in the given options

4 0
3 years ago
Other questions:
  • Bryant Company has a factory machine with a book value of $90,800 and a remaining useful life of 7 years. It can be sold for $27
    6·1 answer
  • QUICKEST AND BEST ANSWER GETS A FOLLOW AND BRAINLIEST
    15·1 answer
  • EZ Workout Inc. advertises Fit Step, an exercise machine, online. In its ads, EZ claims that the use of Fit Step measurably enha
    10·1 answer
  • _____ _____ includes employee behaviors that are directly involved in the transformation
    9·1 answer
  • Suppose the market price of corn is​ $5 a bushel but the government sets a price of​ $7. As a​ result_______________--
    11·1 answer
  • An employee can exclude from gross income the value of meals provided by his or her employer whenever: a.The meals are provided
    11·1 answer
  • Which of the following statements is CORRECT regarding deciding whether an alcohol sale is legal?
    9·2 answers
  • There are two techniques of egg production: free range (where hens roam around the farm) or factory (where hens are fed and wate
    8·1 answer
  • Members of a consumer cooperative usually
    12·1 answer
  • Explain the difference between<br> (b) Expenses and losses.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!