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Marianna [84]
3 years ago
13

Record journal entries for the following transactions. (a) On December 1, $18,000 was received for a service contract to be perf

ormed from December 1 through April 30. Dec. 1 (b) Assuming the work is performed evenly throughout the contract period, prepare the adjusting journal entry on December 31. Dec. 31
Business
1 answer:
Aliun [14]3 years ago
5 0

Answer:

See explanation section

Explanation:

(a) December 1     Cash             Debit    $18,000

                        Unearned revenue      Credit    $18,000

<em>Note: The company received the money in advance for a contract to do during December to April. Therefore, they received cash while a liability increased due to receiving advance money.</em>

(b) December 31   Unearned revenue     Debit    $3,600

                            Service revenue           Credit    $3,600

<em>Note: As the company started performing, after the completion of 1st month, i.e., December 1 to December 31, the advance money started expiring because of providing services. Moreover, as the service is performed evenly for 5 months, the 1st month's revenue = $(18,000/5) = $3,600.</em>

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The Delphi technique is a useful way to gather opinions from experts who
netineya [11]

Answer:

The answer is option B) The Delphi technique is a useful way to gather opinions from experts who desire anonymity.

Explanation:

The Delphi method seeks to collate opinions from a diverse set of experts, and it can be done without having to bring everyone together for a physical meeting.

Since the responses of the participants are anonymous, individual panelists don't have to worry about the consequences of their opinions.

Consensus takes time since opinions are carefully analyzed, making the method very effective.

It is an exclusive process used to arrive at a group opinion or decision by surveying a panel of experts.

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The experts can adjust their answer each round, based on how they interpret the group response provided to them to assess.

The ultimate result is meant to be a true consensus of what the group thinks whilst retaining the anonymity of the respondents.

5 0
4 years ago
Read 2 more answers
What is the vertical component​
MrMuchimi

Answer:

4.33 I guess

Explanation:

F=Fysin

F=5×sin60

F=5×√3

2

F=4.33

5 0
4 years ago
How much would you need to deposit in an account now, such that in 5 years your account will have increased to $8,000, assuming
VladimirAG [237]

Answer:

$6268.21

Explanation:

Future value = $8000

Interest(r) = 5%

Period (n)= 5 years

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= 8000 / (1.05)5

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4 0
2 years ago
Sales revenue for a sporting goods store amounted to $528,000 for the current period. All sales are on account and are subject t
weqwewe [10]

Answer:

The answer is A. A debit to Accounts Receivable for $ 586,080

Explanation:

Sales tax is an additional amount of money one pays based on a percentage of the selling price of goods and services that are purchased.

The sales tax amount will be added to sales revenue to form the total bill.

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Sales tax amount

$528,00 x 0.11

= $58,080

Therefore, total bill is:

$528,00 + $58,080

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8 0
3 years ago
A post-closing trial balance:
OLEGan [10]

Answer:

Answer is option C, i.e. is a list of all accounts and their balances after closing entries.

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A post-closing trial balance is the third and last type of trial balance that contains a list of all the accounts that have been created and also all the balances even after the closing entry has been made. This is made after the closing entries have been made in the journal and posted to the ledger.

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