Answer:
Waldman Associates
Waldman does not have a contract for purposes of revenue recognition on the day the contract is received.
Explanation:
Revenue from contracts with customers becomes recognizable after the performance of the obligations and not before. Revenue is recognized when the contractor has transferred the benefits to the beneficiary and not before. Revenue, in this instance, is to be recognized based on past performance. According to IFRS 15 and ASC 606, revenue is recognized when each performance obligation has been fully satisfied. This is the point when economic benefit has been conferred on the other contracting party.
Answer:
Option D is correct.
Explanation:
Every single offered proclamation are right is the response in light of the fact that under the Double-declining-balance depreciation since it has more devaluation costs when contrasted with different strategies for depreciation.It isn't taking the leftover worth while figuring the deterioration it considers at end year depreciation is determined by taking the distinction of a year ago equalization and rescue value.Under this strategy deterioration is determined on balance measure of depreciation or book value of assets.
Answer:
B. limited decision making
Explanation:
Based on the information provided within the question it can be said that in this scenario Wendy undertook a limited decision making process. This refers to when a consumer makes a decision that requires very little amount of time and effort to make. Which seemed to be the case since Wendy immediately saw the product, looked at the recipe, and instantly decided it would be a good product to purchase.
Answer:
Cash A/c Dr $15,000
To Notes payable A/c $15,000
(Being the bank borrowing through a note payable is recorded)
Explanation:
The journal entry is shown below:
Cash A/c Dr $15,000
To Notes payable A/c $15,000
(Being the bank borrowing through a note payable is recorded)
This transaction increases the cash balance so the cash account should be debited and the note payable account should be credited as it creates a liability which is to be reflected in the balance sheet
Answer:
1) A: Gross wages do not represent a decrease in net cash received on an employees paycheck. The gross wage s what the employee would have earned if no deductions were made.
2) C: Year to date summaries on a paycheck stub accumulate salaries and deductions in the same way an income statement accumulates revenues and expenses over a period.
3) B: At the end of each accounting period temporary accounts have to be set to zero. Their balances are transferred to permanent accounts.