Answer:
1,875 units.
Explanation:
Break-even is the point where a company neither generate profit not make loss, or we can say that it the sales at which the operating profit will be zero. It can be calculated for sales volume as-well-as dollar sales. Let's prepare a contribution income statement to calculate the break-even sales in quantity. We know that:
EBIT / Operating Profit = (SP * Q) - (VC * Q) - Fixed Cost
where
SP = Selling Price
Q = Quantity / Units
VC = Variable cost
As it is understood that the operating profit at break-even is zero, simply put it in the above contribution income statements along with other figures given in the question.
⇒ 0 = (20 * Q) - (12 * Q) - 15,000
OR 15,000 / (20 - 12) = Q
⇒ Break-even units = Q = 1,875 units.
Answer:
10%
Explanation:
Value of investment in the beginning = $30,000
Value of investment at the end = $30,000 (1 + 0.08)
= $30,000 × 1.08
= $32,400
Interest paid = $15,000 × 6%
= $900
Rate of return:
= 10%
Rate of return is 10% if the price of Telecom stock goes up by 8% during the next year.
Answer:
<u>January 1, 2017</u>
Debit: Accounts Receivable $2800
Credit: Deferred Revenue[Wiring Base] - $1120
Credit: Deferred Revenue[Shelving Unit] - $1680
Narration: Contract Detail and invoicing of the client.
<u>February 5, 2017</u>
Debit Deferred Revenue[Wiring Base] - $1120
Credit Revenue Account - [Wiring Base] - $1120
Narration: Revenue recognition of Wiring Base delivered to customer
<u>February 25, 2017</u>
Debit Deferred Revenue[Shelving Unit]- $1680
Credit Revenue Account - [Shelving Unit] - $1680
Narration: Revenue recognition of Shelf delivered to customer
<u>February 25, 2017</u>
Debit: Bank - $2800
Credit: Accounts Receivable - $2800
Narration: Payment received in settlement of contract fully delivered
Explanation:
The question is an example of a Performance Contract.
A Performance Contract is an agreement with a customer by a vendor to discharge a service or provide goods that are distinct from each other. The accounting for this obligations will therefore be recorded and recognized separately.
It is also important to note that the services or goods must be separately identifiable and the customer must be able to derive from each goods on individually or jointly.
The rule is to
- Recognize the contract and invoice amount with the customer as Deferred Income.
- Identify the distinct obligations and services to be provided.
- Identify the transaction amount for each service or good.
- As each obligation is met, the revenue is finally recognized and transferred from Deferred income.
Answer:
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Explanation:
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Answer:
Cover letters can also provide insight and explanation into sensitive information that your resume cannot, such as lapses in employment, career changes and layoffs.
Explanation: I put this as my answer and got it right. :)
