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Gre4nikov [31]
3 years ago
5

Pemco Enterprises sells annual membership to its shooting lodge. The memberships cost $240 each. On January 1, Pemco sold 2,000

memberships and received cash. Refer to Pemco Enterprises. How much revenue should Pemco recognize on January 1?
A. $40,000
B. $240,000
C. $480,000
D. $0
Business
1 answer:
jenyasd209 [6]3 years ago
5 0

Answer:

Option C. $480,000

Explanation:

The reason is that the consideration (Services of memberships which has monetary value) of the contract to deliver the subscribers has been delivered by the Pemco Enterprise which was active their member account and let them enjoy the services which they provide so the sales would be the amount that the company is legally entitled to receive after delivering the consideration of the contract and is $480,000 ($260 * 2000 memberships).

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earnstyle [38]

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3 years ago
Suppose that a person's nominal income rises from $10,000 to $12,000 and the consumer price index rises from 100 to 105. The per
Kazeer [188]

Answer:

C) Rise about 15 percent

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Initial income equals to

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= $12,000 ÷ 105

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3 years ago
You eat an entire box of cookies the night before you attend a weight watchers meeting. this is an example of
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4 years ago
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lawyer [7]

Popson Inc. incurred a material loss that was unusual in character. This loss should be reported as: a line item within income from continuing operations.

<h3><u>Explanation:</u></h3>

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