Answer:
A: Increase Cash $6,000 and increase Unearned Service Revenue $6,000
Explanation:
As the customer is performing the payment in advance, it will generate an obligation to the business to do the wedding gowns. This will not be a revenue; it will be liability for the business until the job is done. While the job is incomplete and undelivered, it will represent unearned service revenue.
Answer:
(E) None of the expenses are deductible by an employee.
Explanation:
Given:
Airfare to New Jersey = $2,000
Meals = $220
Lodging in New Jersey = $450
Rental car = $180
Since, all the expenses here are linked to the activities that are done on the business trip i.e expenses not occurred for the personal benefit or for the personal use.
also, the employees cannot deduct the business expenses.
hence, option (E) is correct
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Incomplete question. The options read:
a. 5.16
b. 5.35
c. 5.56
d. 5.77
e. 5.99
Answer:
<u>b. 5.35</u>
Explanation:
Remember, we use the Macaulay duration to determine the weighted average time before any bondholder would start to receive their expected bond's cash flows.
Hence, using the formula attached below, we could find the Macaulay duration for this scenario. In the above formula, where:
C= the periodic coupon payment
y= the periodic yield
M= the bond’s maturity value
n= duration of bond in periods.
However, another way to get a solution is to employ an advanced calculator.