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2 years ago

Are advanced receipts from customers treated as revenue at the time of receipt? Why or why not?

Business

1 answer:

Ivanshal [37]2 years ago

5 0

Answer:

Explanation:

The receipt received from customer is view as expense and expense is not a revenue.

The receipt can be issue after purchase or return of good. so in this particular case its not a revenue. Thank you

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Accrued sales salaries amount to $1,700. Prepaid selling expenses of $3,000 have expired. A physical count of year-end merchandi

Korolek [52]

Answer:

The answers are given below;

Explanation:

a. Adjusting Entries

Salaries Expense Dr.$1,700

Salaries Payable Cr.$1,700

Selling Expenses Dr.$3,000

Prepaid Selling Expenses Cr.$3,000

Inventory Dr.$28,700

Cost of Goods Sold Cr.$28,700

b. Income summary Account (1,700+3,000+28,700) Dr.$33,400

Salaries Expense Cr.$1,700

Selling Expense Cr.$3,000

Cost of Goods Sold Cr.$28,700

Capital Dr.$33,400

Income Summary Account Cr.$33,400

4 0

2 years ago

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Many major designers are using metallic studs and spikes in their latest collections. What does this signify to a fashion foreca

Sati [7]

Answer:

increased production of studs and spikes around the world

Explanation:

The production of hese new designs have a direct correlation with the production of studs and spikes around the world

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2 years ago

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Carrot Corporation, a C corporation, has a net short-term capital gain of $65,000 and a net long-term capital loss of $250,000 d

Molodets [167]

Answer:

The answer is $45,000

Explanation:

$45,000

- Net Short Term Capital gain +Net Long Term Capital loss= 65,000+ (250,000)= -185,000

-Net Long Term Capital loss(2015)+Net Short Term Capital gain (2016)+Net Long Term Capital Gain(2017) = 60,000+45,000+35,000=140,000

-185,000+140,000= (45,000)

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3 years ago

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Which of these options for saving money typically offers the least liquidity?. . A.Savings bond. B.Money market account. C.Certi

zhuklara [117]

Among the following options for saving money that typically offers the least liquidity, (A) Savings Bond is the correct answer. The term that is being referred here which 'least liquidity' means that you or any other person can not withdraw any money at any time they want.

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2 years ago

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Dr. weiss is a research scientist with a major pharmaceutical company. in his position he has great flexibility in determining h

chubhunter [2.5K]

d. achievement-oriented
The Path-Goal Theory states that Dr. Weiss would respond best and benefit most from an achievement-oriented leadership style. An achievement-oriented leader sets high goals for their employees and expects them to perform at their best. The employees are not told the specific ways to meet these high goals, being expected instead to use their own abilities to figure out how. An achievement-oriented leadership style is known to work for sales and especially scientific fields, such as the one that Dr. Weiss works in.

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2 years ago