Answer: Unearned subscription revenue.
Explanation:
Tax is made on a cash basis which means that a transaction is eligible for taxation once cash has been paid for it. Businesses however have to use the Accrual basis which only record transactions in the period that they have been incurred.
In this scenario, there is more subscription payment in cash than the company recognized which means that the company has not yet delivered the service they were paid for and so could not recognize the subscriptions. They will however be taxed on those amounts because the cash has come in.
The account giving this temporary difference is therefore the Unearned Subscription Revenue account.
$400,000 equity will be the coverage provided for the account.
<h3>What is a joint account?</h3>
A joint account is just another saving account, but the difference is that it is shared between two people, i.e, two people are the owner of that account this is generally shared between two partners or a spouse.
The maximum bandwidth for a joint account is $500,000; but, a margin account only covers the equity, thus the debit balance is deducted from the market value. from deducting the market value of $1 million from the debit balance of $600,00 to leave $400,000 equity.
Learn more about the joint account, here:
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Answer:
Future value
Explanation:
The name for computation that allows you to determine how much money to deposit now to earn a desired amount in the future is "Future value." Future value is the equivalent of an asset at a particular date. It estimates specific nominal future sum of cash that an invested sum of money is "worth" at a stipulated period in the future considering a specific interest rate, or more commonly, rate of interest; it is the immediate price multiplied by the aggregation function.
Answer:
$441,000
Explanation:
The computation of the cost of merchandise sold is shown below:
Cost of merchandise sold = Opening inventory + net purchase - ending inventory
where,
Opening inventory = $14,500
Net purchase is
= $475,000 - $15,000 - $9,000 + $7,000
= $458,000
And, the ending inventory is $31,500
So, the cost of merchandise sold is
= $14,500 + $458,000 - $31,500
= $441,000
Answer:
break-even point (BEP) = 25,000 items
Explanation:
given data
Selling price = $2.50
Fixed costs = $10,000
Variable cost = $2.10
solution
we know that Revenue is sum of Fixed costs and variable costs
so we use here contribution margin method that is
Contribution margin = $ 2.50 - $ 2.10
Contribution margin = $ 0.4
so
break-even point (BEP) for the valve is here
break-even point (BEP) = fixed cost ÷ Contribution margin ...................1
put here value
break-even point (BEP) = 
break-even point (BEP) = 25,000 items
