Answer and Explanation:
According to the scenario, computation of the given data are as follow:-
Total Sales = No. of Subscription Sold × Advance Price of Subscription
= 500 × $60 = $30,000
August Month Received Amount = (No. of Subscriber × Paid Amount) ÷ (1÷12
)
=(350×$60)÷1÷12
= $21,000 ÷ 12
= $1,750
Balance Sheet
Particular Assets($) Liabilities($) Stockholder Equity($) Income($)
Cash 36,000
Unearned revenue 36,000
Earned revenue -1,800 -1,800
Total 36,000 34,200 -1,800
Income Statement
Income Amount ($) Expense ($) Amount ($)
Earned Revenue -1,800
DONT TRUST THAT LINK! IT IS USED TO STEAL PERSONAL INFORMATION! Report any links people give you.
Answer for your question!
Because one asset increases and another decreases by the same amount, the accounting equation remains unchanged and in balance, suggests Principles of Accounting. For example, if you collect $100 from an account receivable, cash increases by $100 and accounts receivable decreases by $100.
Answer:
$3,168
Explanation:
We will receive $4000 in future (after 4 years time) which means all we want to know is the amount that we Derek must deposit today.
This present value of the $4000 payment received after 4 years from today can be calculated using the following formula:
Present value = Future Value / (1 + r)^n
Here
Future Value is $4000
r is 6%
n is 4 years
So by putting values, we have:
Present value = $4000 / (1 + 6%)^4 Years
Present value = $3,168
Answer:
assets on the balance sheet.
Explanation:
Reserves are percentages of deposits that are required for depository institutions to keep to meet unforeseen contingency. they are usually kept in bank vaults
they are assets and they cannot be lent out
Services are now the largest single component of the supply side of gdp, representing over half of gdp.
