Answer:
C. Unearned revenue would be debited for $700.
E. Service revenue would be credited for $700.
Explanation:
As we recieve the payment in-advance we take the obligation to perform our duties with the customer.
Therefore it is unearned revenue (liability)
at year-end there is a portion which is still unearned by the amount of 300 dollars Hence, the difference was earned: 1,000 - 300 = 700
we will decrease our liability against the customer and recognize the revenue by crediting service revenue.
The process to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives is called risk assessment.
An entity refers to someone or enterprise owning separate and wonderful prison rights, inclusive of an individual, partnership, or organization. An entity can, amongst different things, personal assets, engage in enterprise, enter into contracts, pay taxes, sue, and be sued.
The entity name is the call used by an enterprise to enter into contracts and make other criminal or administrative commitments. alternatively, the business name is the name your commercial enterprise operates under and shares with its clients, customers, and employees.
That which has a wonderful life as an individual unit. often used for businesses that have no physical shape. An existent something that has the houses of being actual, and having an actual lifestyle.
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Answer:
demand; rightward; increase; increase
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College is a school where you go to get a degrees, so that you can get good jobs. Some jobs have to have a college degree like airplane pilots. They have to have a bachelor's degree. College is just professional school for a profession that you want, or a job that you really want and want to make sure you get.
Answer:
1,231,000 units
Explanation:
Given that,
Fixed costs = $274,950
Selling price = $9.30 per unit
Unit variable cost = $7.85
Target net income = $1,510,000
Contribution margin:
= Sales per unit - Variable cost per unit
= $9.30 - $7.85
= $1.45
Target Contribution margin:
= Fixed costs + Target income
= $274,950 + $1,510,000
= $1,784,950
Units to be sold:
= Target Contribution margin ÷ Contribution margin
= $1,784,950 ÷ $1.45
= 1,231,000 units