Answer:
$833
Explanation:
As per accrual basis of accounting, an income is recognized when it is earned and not when cash is received for it.
In the given case, customer purchased a service for 3 months.
The position as on 31st Dec is that only one third i.e 1 month of services out of 3 months has been provided and 2 months of services is due which is yet to be provided against the collective cash received.
Hence, the spa should recognize 2500/3 i.e <u>$833 </u>in revenue on it's December 31st, 2022 financial statements.
The opportunity cost related to choosing to purchase through a premium home delivery service will be the higher cost than buying the groceries at the store.
And if the small business owner chooses to buy groceries at the store instead of choosing the home delivery service, the opportunity cost will be related to the convenience and speed of the service.
<h3 /><h3>Compensation cost</h3>
The concept encompasses the various costs of a business' activities and how their characteristics can impact the entire cost of the production chain.
Therefore, opportunity cost is different from accounting cost, and is related to measuring the cost of what is left undone when it is necessary to make a certain choice.
Find out more information about opportunity cost here:
brainly.com/question/8846809
Answer: The property will have to sell for $90,322.58 for the Sellers to net $75,000.
We arrive at the answer as follows:
We need to add the expenses to the net amount and deduct any refunds from it to arrive at the Selling price before the sales commission.
So, we have:
Net $75,000
Add: Mortgage Balance $ 7,500
Closing Expenses <u>$2,500</u> <u>$10,000 </u>
Total $85,000
Less: Refund of prepaid taxes -<u> $ 1,000</u>
<u>Total before sales commission</u> <u> $84,000 </u><u> </u>
Since sales commission is 7%, this $84,000 corresponds to 93% of Sales Price.
Hence sales price is .