Answer:
$1,560 and $0
Explanation:
According to the accrual method of accounting, the revenue should be recognized when it is realized or when the sale is made not when the cash is received
Since Digby delivers 104 units in April
So for the March income statement, the amount is
= 104 units × $15
= $1,560
And, for the April income statement, it would be zero as the total units order received in March only
I think the answer is C hope this helps!
Answer: A. The $250 will come directly off of the amount of taxes the teachers owe.
Explanation:
When given a tax credit of a certain amount, it means that you can deduct that amount from the taxes you owe which means that the taxes you are to pay will be reduced. If you received a tax credit of $500 for instance and you owed taxes of $2,000, your taxes would become $1,500.
In this scenario therefore, with the teachers receiving a tax credit of $250, taxes that the teachers owe will be reduced by $250.
Answer:
They should not pay any more than the original price plus the contribution margin.
Explanation:
Since there's already unfilled demand for the products, paying extra in the form of contribution margin is not much. But any additional costs over the original cost price plus added contribution margin should not be accepted as this will greatly increase the cost of the product thereby making the sale of extra units of the three products unprofitable. Barrow company purchase price ceiling should be at initial cost plus contribution margin.
Answer:
A) The balance sheet will report the note receivable of $8,400
Explanation:
Notes receivables and promissory notes are part of the Notes Receivables account, which is an asset account in the balance sheet. They are recorded as follows:
- Dr Notes Receivable account 8,400
- Cr Accounts Receivable account 8,400
Both accounts are asset accounts, but notes receivable is replacing accounts receivable. Therefore since notes receivable is increasing, it should be debited, and since accounts receivable is decreasing, it should be credited.
You don't record any interest, only after the interest is paid, you should record it as interest revenue.
