Answer:
If Splendid Occasions had recorded their service revenue using the other method, how much service revenue would they have recorded for the year?
Ans: $2,970
The ''other method'' in question is the Cash method which recognizes revenue when cash is paid unlike the Accrual method that recognizes it when earned.
Using the Cash method the Service Revenue would be $2,970 because the cash has been received for it.
If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May?
= Cash revenues - Cash expense
= Received cash for meals served to customers - Prepaid rent for three months - Received and paid electricity bill
= 2,530 - 2400 - 60
= $70
If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May?
= Revenue - Expense
= Served a banquet on account + Received cash for meals served to customers - Rent - Electricity - Accrued salary expense - depreciation
= 2,810 + 2,530 - (2,400/3) - 60 - 2,670 - 380
= $1,430
<em>Cash spent on Equipment is not expense but capital expenditure. </em>
Answer:
4,444.44 units
Explanation:
For the computation of Number of units to be sold to earn target profit first we need to follow some steps which are shown below:-
Selling price per unit = Sales ÷ Number of units sold
= $300,000 ÷ 5,000
= $60
Variable cost per unit = Total variable cost ÷ Number of units sold
= $180,000 ÷ 5,000
= $36
Increase in selling price = $60 × 5%
= $3
New selling price per unit = $60 + $3
= $63
New contribution margin per unit = New selling price per unit - Variable cost per unit
= $63 - $36
= $27
Number of units to be sold to earn target profit = (Fixed cost + Target profit) ÷ Contribution margin per unit
= ($90,000 + $30,000) ÷ $27
= $120,000 ÷ $27
= 4,444.44 units
Answer:
Blossom record $161,100 as cost of land.
Explanation:
Here, we are to calculate amount recorded as the cost of the land purchased by Blossom company.
We proceed mathematically;
From the question;
Calculation of land cost = cash payment + property tax value + Title and attorney fees + Grading cost
Cost of land = 150,000 + 5,200 + 2,000 + 3,900 = $161,100
Blossom record $161,100 as cost of land.
Answer:
Supply Management
Explanation:
Supply Management -
As the name suggests , it is the management of the supply , it is also known as procurement .
In a business or company , the method to determine and manage the resources and the suppliers which are required for the business , is referred to as supply management .
The focus of the people working in the supply management is -
cost control , collecting data and information , risk management etc.
Hence , from the given information of the question ,
The correct answer is supply management .
