Answer:
Remember that according to the accrual concept, the advances received are not earnings until you have delivered you consideration. This means that the revenue would be only that part of the advances received which we have compensated by our consideration. Consideration means any product or service which has a monetary value. The consideration here requires to be delivered in three months time. Here the year end is 31 December so the amount that must appear as revenue in the year must be 1 month share out of 2 months total ($2700 * 1/2 = $1350).
So the entry would be to decrease in the unearned fees which is liability (must be Debited) and an increase in the Earned Fees (Revenue increases are always Credited) by amount $1350.
Dr Unearned fee $1350
Cr Earned Fees $1350
So the option d by seeing the entries mentioned above, is correct answer.
Answer:
Jason did a good job; everything is correct. (we can assume that he rounded the balance to whole dollars).
Explanation:
Since this is not organized and no picture is included, you cannot tell how Jason organized the accounts.
I used an excel spreadsheet to organize the check register because there is not enough room here.
Answer:
C) Technological change
D) Quantity of capital per hour worked
Explanation:
Technological change is the most important factor for economic growth. It is more important than capital per hour worked since technological change can increase productivity dramatically, e.g. smartphones and the internet changed the way the whole world's population lives and carries out business.
A <u>time-share</u> operates like an exclusive-use site but it is leased in conjunction with a business partner or sister organization.
Explanation:
- Time-share is one of the shared-use resumption strategy.
- It is the leased site shared with organizations to provide assistance in case of disasters.
- More than one organization may use the site simultaneously.
Answer:
Expected total sales= $758,500
Explanation:
<u>To calculate the expected total sales, we need to multiply the actual sales by the standard selling price:</u>
Expected total sales= actual sales in units*standard selling price per unit
Expected total sales= 205*3,700
Expected total sales= $758,500