Answer:
The necessary entries would be:
Dr Accounts receivable $11,000
Cr Sales revenue $10,000
Cr Deferred revenue $,1000
Explanation:
Revenue should be recognized in the books of account where the selling party has performed its obligation of delivering goods or rendering services as contained in the sales contract.
This contract contains provision of goods -inventory that have been delivered and rendering of services-installation that is in progress, as a result the revenue relating to the former is due to be recognized now while the later would be recognized when is installation is concluded.
Answer: 8%
Explanation:
The Annual Percentage Rate or APR for short is calculated by dividing the finance cost by the total amount borrowed in the following manner,
APR = Finance Charge / Amount borrowed.
To calculate the Finance charge we add the interest and the service charge.
Finance charge = 25 + 15
= $40
Back to the APR formula we will have,
APR = Finance Charge / Amount borrowed
APR = 40/500
= 0.08
APR is 8%.
Answer: All of these are correct answers.
Explanation: In simple words, Balanced scorecard refers to the strategic management system in which the organisational tries to communicate to the stakeholders what is their ultimate goal and what are they trying to establish.
In such a process, the managers of the organisation translate their mission statement relating to various aspects of customer service and declares their course of actions regarding the activities that really matters to the customers.
Hence from the above we can conclude that all the statements are correct in the given case.
Answer:
January 2, 2020
Dr Cash $52,000
Cr Sales Revenue $52,000
December 31, 2020
Dr Warranty expense $890
Cr Cash $890
December 31, 2020
Dr Warranty expense$640
Cr Warranty Liabiltiy $640
Explanation:
Preparation of the journal entry to record this transaction on January 2, 2020, and on December 31, 2020.
January 2, 2020
Dr Cash $52,000
Cr Sales Revenue $52,000
December 31, 2020
Dr Warranty expense $890
Cr Cash $890
December 31, 2020
Dr Warranty expense$640
Cr Warranty Liabiltiy $640
The functionalist perspective is the sociological perspective that implies that dividing tasks between spouses is beneficial for the family unit even though it does not explicitly endorse traditional gender roles.
<h3>What is a
functionalist perspective?</h3>
This refers to the social view that our society is a relatively stable and orderly system composed of interdependent and interrelated parts
The key points about functionalist perspective are:
- It view social change as a strain on the system
- It attempts to explain social stability.
Hence, because the Functionalists believe that society is held together by social consensus where members of the society agree upon and work together to achieve, then, it is the sociological perspective that implies that dividing tasks between spouses is beneficial for the family unit even though it does not explicitly endorse traditional gender roles.
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