Answer:
Sales for March, 164 * 15 = $2,460
Explanation:
According to the accrual system, the purchases and sales are recorded when they occur. When compared to the cash basis, they are only recorded when actual cash is received or paid for them.
For March the transaction of 164 units has occurred and thus this sale will be recorded.
Sales for March, 164 * 15 = $2,460
This is the revenue recorded for March under accruals, for cash this would have been 0.
Hope that helps.
<span>The type of arrangement where the
members of a cross-functional team have an informal agreement that
whenever a team member goes out of town on business, that the team member
will leave a phone number where he can be reached by the other members
of the team is known as group norm.</span>
Answer: Management will not look at this investment in equipment favorably, as the net present value of the project is negative, which will decrease shareholder's wealth.
Explanation:
0 1 2 3 4
Net Cashflows -370,000 160000 140000 80000 80000
Discount factor 12% 1 0.893 0.797 0.712 0.636
PV of cashflows -370000 142857 111607 56942 50841
NPV -7752
Answer:
A. Debit Equipment and credit Cash.
- You purchase equipment and you pay in cash.
B. Debit Dividends and credit Cash.
C. Debit Wages Payable and credit Cash.
- You paid wages that you owed to your employees. Generally wages are paid at the end of the week and not all months end on a weekend. So you must record wages payable until you actually pay the wages.
D. Debit Equipment and credit Common Stock.
- You received equipment in exchange for common stock.
E. Debit Cash and credit Unearned Revenue.
- You received cash in advance for some food that you will deliver in the future.
F. Debit Advertising Expense and credit Cash.
- You incurred in advertising costs and you paid them in cash.
G. Debit Cash and credit Service Revenue.
- You sold meals and your clients paid you in cash.
