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3 years ago

The following represents the five steps in the revenue recognition model, in random order:

Business

1 answer:

rosijanka [135]3 years ago

3 0

Answer:

The correct order is 5-4-1-3-2

Explanation:

Revenue Recognition is a Generally Accepted Accounting Principle which outlines the specific conditions in which revenue must be recognized and also stipulates ways and when to account for it. The order of the revenue recognition model is:

Identify the contract with a customer.
Identify the performance obligations in the contract.
Determine the transaction price.
Allocate the transaction price to the performance obligations in the contract.
Recognize revenue as the entity satisfies performance obligations.

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__________are products that are designed and produced from the start to meet unusual customer needs or requirements. They repres

Crazy boy [7]

Answer:

Engineered to order.

Explanation:

Is a type of a manufacturing process where the products are designed and are finished to meets the needs, and requirement of the customer.

And are highly customized in nature in order to meet the specif needs of the order. And has a substantial quantity of design and needs the engineering analysis.

8 0

3 years ago

Your company obtains a short term loan on September 1st, 2019 to cover costs to purchase inventory. The loan is for $50,000, the

artcher [175]

Answer:

a. Journal Entry on September 1st, 2019:

Dr: Cash/ Bank $50,000

Cr: Short Term Loan $50,000

b. Journal Entry to accrue interest on December 31st, 2019 is:

Dr: Interest Expense $1,333.33

Cr: Accrues Interest Expense $1,333.33

c. Interest Expense on March 31st, 2020 is :

$1,000

d. The Total cash company will pay back on March 31st 2020:

52,333.33 (50,000 principal + 2,333.33 interest)

Explanation:

b. Annual Interest is $50,000×8% = $4,000 per annum.

The annual interest rate is prorated for 4 months (Sept 2019 -Dec 2019)

$4,000 *4/12 = $1,333.33

c. Interest expense for next fiscal year up till March 2020 is calculated by prorating annual interest expense for 3 months (Jan 2020- Mar 2020)

$4,000×3/12 = $1,000

8 0

3 years ago

What can a speaker do to ensure that they are respectful of their audience, especially when speaking to a skeptical audience or

ololo11 [35]

ANSWER

Always state the facts pertaining to your speech.

Always avoid stereotypes during a speech.

Never bash or be bias.

Remain objective.

Have respect for the people and their values as well as beliefs .

Explanation:

8 0

3 years ago

"In the __________ strategy, you can manipulate _________ to match supply and demand. a. Chase; inventory level b. Chase; invent

makkiz [27]

Answer:

a. Chase; inventory level

Explanation:

Chase Strategy is one of the two aggregate planning methods where the production is set according to demand forecasts. Hence in this type of aggregate planning, the inventory level may be increased for a certain duration to cater for higher demands while it can also be lowered through low production for low forecasts. Hence Inventory level may be manipulated to match supply and demand.

7 0

3 years ago

Read 2 more answers

In lean operations, input resources arrive for processing only after the preceding batch has been completed. question 10 options

JulijaS [17]

The correct answer would be TRUE, In lean operations, input resources arrive for processing only after the preceding batch has been completed.

6 0

3 years ago