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N76 [4]
3 years ago
9

For each of the following transactions, determine if Raymond Corporation has earned revenue during the month of May and, if so,

how much has been earned.Customer A paid Raymond $1,500 for work Raymond will perform in June.Customer B purchased $6,000 in inventory with the total payment expected to be received in four weeks. Those items had cost Raymond $3,600 in February.Raymond performed a service for Customer C and was paid $3,400 in cash.Customer D paid Raymond $2,300 for inventory that was purchased previously in April.
Business
1 answer:
kompoz [17]3 years ago
6 0

Answer:In the month of May, Revenue was only earned from Customer C $3,400 and customer D, $2,300. Revenue was not earned from Customers A and B in the month of May. Therefore, total revenue is $5,700.

Explanation:In accordance with the principle of revenue recognition,Revenue will only be recognised when it is earned and services when they are fully rendered. For Customer A, the service has not been rendered, Therefore, the revenue is not yet earned.

For customer B, Although agreement has been reached and goods delivered, since payment hasn't been received, revenue is not recognised.

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A false statement of material fact regarding ownership of business property that results in a loss of sales is referred to as __
fomenos

Answer:

D. Slander of title.

Explanation:

Slander of title occurs when someone publishes an untrue and disparaging statement about another person’s real property -- meaning a home, building, or parcel of land -- and the statement could have a negative impact on the property's value.

6 0
3 years ago
Barry and his wife mary have accumulated over $4 million during their 45 years of marriage. they have three children and five gr
jolli1 [7]

Answer:

49

Explanation:

You just add them together

6 0
3 years ago
Gabriel put $6000 in a 2-year CD paying 4% interest, compounded monthly. After 2 years, he withdrew all his money. What was the
NeTakaya
First, we calculate for the effective annual interest given the interest in the scenario. 
                          ieff = (1 + i/m)^m - 1
Substituting the values,
                          ieff = (1 + 0.04/12)^12 - 1 = 0.0407
The effective interest is equal to 4.07%. 

The future amount after 2 years,
                         F = ($6000) x (1.0407)^2 = $6498.86
5 0
3 years ago
Read 2 more answers
An investor's portfolio has a beta coefficient of 0.85. If the overall market declined by 10% over the course of a year, the por
marusya05 [52]

Answer: decreased by 8.5%

Explanation:

The beta coefficient of a stock is simply used to measure the volatility of a stock which is relative to the market.

From the question, we are informed that investor's portfolio has a beta coefficient of 0.85 and that the overall market declined by 10% over the course of a year.

Based on the information above, the value of the portfolio would have decreased by:

= 0.85/10

= 0.085

= 8.5%

5 0
3 years ago
Please research employment opportunities in the accounting field and provide insight into the relevance and usefulness of Excel
Travka [436]

Answer:

Following are the responses to the given question:

Explanation:

The progress throughout the financial sector does not take a confined path. One can move to more responsible roles when you're on the broad route to changing industries, receiving certificates, or switching disciplines — without even being derailed. Select from the range of staff inside the broad fields of public accountancy. You could be a lead financial official or a partner in a company of qualified checksum. A height of your career.

Although the accounting foundation is founded upon consistent accounting practices, the accountants can apply this theory in many various ways.

Employment accounts governmental and non-profit:

  • Accounting Fund
  • Jobs of IRS

Public Accounting Jobs:

  • Estimated Cost
  • Forensic Accountable Enrolled Agent
  • Immobilien Assessor
  • Accountant Taxation
  • Fiscal Prosecutors
  • Preparing tax

Jobs in private accounting:

  • Clerk of Accounting
  • Payable/Deputy Clerk Accounts
  • System Accounting Specialist
  • Actuarial accountant/accountant insurance
  • Bookkeeping
  • Analyst for the budget
  • Accountant of capital
  • Financial Controller/Control Office
  • Accountant costs
  • Measurement of environmental accountant/sustainability
  • Accountant payroll

Fiscal Services:

  • Specialist in Business Valuation
  • Certificated Financial Planner
  • Fiscal Analyst
  • Advisor on taxes

Accounts only include the cash that can be represented financially. Some individuals call accountancy "the language of business," as well as its objective is to allow accountancy users to make better choices

This included many tasks performed by the CPAs for its clients:

  • Asset records collection and maintenance
  • Assess banking transactions and make key management for optimum financial practices
  • Reviewing accounting system and financial accounting to verify that they are effective and conform with approved accounting standards and procedures
  • Tax documents and related tasks
4 0
2 years ago
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