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mars1129 [50]
3 years ago
11

A city with a 12/31 fiscal year-end requires that restaurants buy a license, renewable yearly. Proceeds of the license fees are

intended to pay the salaries of inspectors in the health department. Licenses are issued for a fiscal year from October 1 to September 30. During 2014, cash collections related to licenses were as follows:
Licenses issued during 2013 for the 10/1/13-9/30/14 fiscal year $ 30

Licenses issued during 2014 for the 10/1/14-9/30/15 fiscal year $180


It is anticipated that during 2015 the amount collected on licenses for the 10/1/14-9/30/15 fiscal year will be $45. In September 2013 the amount collected related to 10/1/13-9/30/14 licenses was $144.

What amount should be recognized as revenue in the fund financial statements for the fiscal year ended 12/31/14?


a) $180. b) $183. c) $210. d) $225.
Business
1 answer:
stiks02 [169]3 years ago
8 0

Answer:

c) $210

Explanation:

Revenue is recognized in the year in which it is intended to finance an activity.

The Cash collected During 2014 relating to licences will be used to finance the salaries for the inspectors during 2014 and cash collected during 2014 = $210 (30+180)

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An increase in ________ will increase operating cash flow for a profitable
enot [183]

Answer:

Revenue / Sales

Explanation:

Operating cash flow is net of the cash received from the revenue and paid for the expenses during the year. Increase in revenue will lead to an increase in operating cash flow of a profitable business. Operating cash flow is net of the cash received from the revenue and paid for the expenses during the year. on the other hand the increase in Expenses will result in the decrease in operating cash flows.

3 0
3 years ago
Clarksen Company uses a process costing system. The company requisitioned $93,000 of materials for Department A and $67,000 of m
VashaNatasha [74]

Answer:

The correct journal entries should be:

Department A:

Dr Work in progress inventory 93,000

    Cr Raw materials inventory 93,000

Department D:

Dr Work in progress inventory 67,000

    Cr Raw materials inventory 67,000

Explanation:

Raw materials is an asset account with a debit balance, and since we must decrease it, we have to credit the amounts. Work in progress (WIP) inventory is an asset account so it has a debit balance.

6 0
3 years ago
Assume Kader Company has the following reported amounts: Sales revenue
jok3333 [9.3K]

Answer:

100

Explanation:

1000 expensives of the more u do in the book

8 0
3 years ago
Which of the following terms refers to a cloud computing feature that allows for automatic allocation of computing resources in
slega [8]

Answer: A - Rapid elasticity

Explanation: Rapid elasticity is a cloud computing term for scalable provisioning, or the ability to provide scalable services. It allows users to automatically request additional space in the cloud or other types of services.

Those who provide guidelines for cloud computing recommend tools like monitoring and audit trails to tightly control all of the diverse requests and transactions that happen in the provision of cloud services, and the rapid elasticity that provides so much benefit to those who use the cloud.

7 0
3 years ago
Martin purchased municipal bonds that yield 7% annually and certificates of deposit which yield 9% annually.
jeka94

Answer:

the amount invested in municipal bond is $8,000

the amount invested in certificated on deposits = $11,000 - $8,000

= $3,000

Explanation:

Data provided in the question:

Annual yield on municipal bond = 7% = 0.07

Annual yield on certificated of deposits = 9% = 0.09

Initial investment = $11,000

Annual income = $830

Now,

Let the amount invested in municipal bond be 'x'

Therefore,

the amount invested in certificated of deposits = $11,000 - x

Thus,

according to question

⇒ 0.07x + 0.09( $11,000 - x ) = $830

⇒ 0.07x + $990 - 0.09x = $830

⇒ -0.02x = $830 - $990

⇒ -0.02x = -$160

⇒ x = $8,000

Hence,

the amount invested in municipal bond is $8,000

the amount invested in certificated on deposits = $11,000 - $8,000

= $3,000

7 0
3 years ago
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