The Company recorded 660 x 74 = $48,840 in deferred revenue. This is a liability account that means they still owe the service or good which they have been paid for.
Every month, the company records an adjusting entry, recognizing one twelfth of the 48,840, 4,070, because they have earned another month of that deferred revenue by providing the magazine.
The journal entry on December 31, 2018, will be
Deferred Revenue 4,070
Revenue (4,070)
If this is the first time they've made the entry, then they will recognize earned revenue for Sep, Oct, Nov and Dec,
Deferred Revenue 16,280
Revenue (16,280)
Answer:
2.85405 years
Explanation:
Cash Flows
Year 0 ($78,000)
Year 1 $29,500
Year 2 $32,700
Year 3 $18,500
Year 4 $10,000
Services United would receive $29,500 in year 1 therefore remaining balance is = 78,000 - 29,500 = 48,500
Services United would receive $32,700 in year 2 therefore remaining balance is = 48,500 - 32,700 = 15,800
Services United would receive $18,500 in year 3 therefore remaining balance is = 15,800 - 18,500 = -2700
We observe that the company would recover the initial amount somewhere in year 3
15800 / 18500 = 0.85405 years
Total payback period = 2 years + 0.85405 years = 2.85405 years
The main difference between a personal characteristic and a skill is its origin.
personal characteristics are inherent qualities within a person while skills are learned and developed by a person.
Personal characteristics include habitual patterns of behavior, temperament, and emotion while skills include talents like self-confidence, good attitude and good listening behavior which are necessary to carry out specific tasks.
Based on the provided information, the technique that Nordstrom managers were using is Delphi technique.
<h3>What is a Delphi technique ?</h3>
Delphi technique can be regarded as the structured communication technique which is been developed to serve as interactive forecasting method that is based on a panel of experts.
Therefore, Nordstrom managers as using Delphi technique.
Learn more about Delphi technique at;
brainly.com/question/24506250
