Answer: C) mutually unexecuted contracts between buyers and sellers.
Explanation:
Mutually Unexecuted contracts refer to a situation where both parties being the buyer and the seller have not executed their parts of the bargain or rather fulfilled their parts of the contract.
In such a case, even though legally, there is an obligation to perform due to the signing of a contract, Accounting wise, there is no need to record a liability.
This is why Mutually Unexecuted contracts do not contribute to the need to recognize deferred revenue.
Answer:
The correct answer is C.
Explanation:
In the inventory of a company, when it is on the balance sheet date, goods in transit purchased at an f.o.b. shipping point must be included.
Goods in transit are goods that are not physically in the warehouse but have already been paid for by the company. This already acquired merchandise is property of the company, only that its arrival is only waited for to the deposit.
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An email to parents with the upcoming events or handout of papers to the kids to give to their parents
Answer:
The amount of the cash flow from assets is outflow of $42,000, all other cash a re from Cash flow from operation and cash flow from finance.
Explanation:
Operating Cash Flow
net working capital increased from $13,506 to $18,219.
depreciation expenses of $16,805.
Investing Cash Flows
company purchased $42,000 in net new fixed assets
Financing Cash Flows
Miser Materials paid $27,500 in dividends
$28,311 in interest over the past year
firm issued $25,000 in net new equity
and paid off $21,000 in long-term debt.
