Answer:
B) They are employees.
Explanation:
They work for Sally. Sally hired Truly, Glen and Fred and pays them an hourly wage, and provides the tools that they use to perform their work. She also supervises and directs their job. They are not independent contractors due to the direct relation that exists between them and the fact that they obey Sally's orders.
Answer:
47,000
Explanation:
Impairment Loss = Book Value − Fair Value
$180,500 − $133,500 = $47,000
Choice B. Economics is the study of the ways in which money is created and used in society.
Hope this helps and have a great rest of the day!! :)
Answer:
Momentous Occasions
a. Revenue of $1,000 is recognized on April 2, though the cash receipt is recorded on March 3 as deferred revenue. This means that the recognition occurred on a separate date from when the cash was received.
b. Revenue of $4,100 will be recognized on the date the party is held and not on the February 28 date when the cash was received. This means that the recognition occurred on a separate date from when the cash was received.
Explanation:
Momentous Occasions is required to recognize revenue on the date the service is performed and not when the cash is received in accordance with the accrual concept, unless it chooses to use the cash basis as a small business.
Answer:
See below.
Explanation:
Solve for bottles at $50:
10 × 50
$500 per week
Solve for bottles at $45:
11 × 45
$495
Mr. Porter would make more money by sticking with selling 10 bottles a week at $50 each. This is because the latter requires him to sell one extra bottle and he will still lose $5.
