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3 years ago

The new ASC Topic 606 for revenue recognition:

Business

1 answer:

denpristay [2]3 years ago

5 0

Answer:

addresses when and how revenue should be recognized in contracts that provide both goods and service to customers.

Explanation:

ASC 606 is a new standard that provides guidance on revenue recognition to the companies that provide goods and services to its customers. This standard is for both public and private entities. Earlier there were some variations in the revenue recognition process across different companies. The new standard has now simplified standardization in financial reporting.

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An algebra class has 20 students and 20 desks. for the sake of variety, students change the seating arrangement each day. how ma

Delicious77 [7]

I'm really not sure this is the right answer, but there are 20! ways to arrange 20 students in different orders. 20! is a VERY large number haha but that's how I'd do it :/

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3 years ago

In 2012, a nation’s population was 10 million, its real GDP was 1.21 billion. By 2013, its the population had increased to 12 mi

julsineya [31]

No no it’s not going on
Yes yes I will
A

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3 years ago

The Safe-T Airbag Company manufactures airbags that are used in automobiles. Fly Motor Company manufactures automobiles in which

melamori03 [73]

Answer:

(A)Requirements Contract

Explanation:

A requirements contract is defined as a contract in which one party agrees to supply as much good/service as desired by the other party. In exchange, the other party implicitly promises that it will obtain its goods or services exclusively from the first party.

Since Fly Motor Company agrees to purchase all the airbags it will need from Safe-T. Airbag company, the requirement of exclusive purchase is satisfied.

6 0

3 years ago

Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions

balu736 [363]

Answer:

Gram Co.

Statement of cash flows

For the month ended May 31, 202x

Cash flows from operating activities:

Net income $5,590

Adjustments to net income:

Increase in accounts payable $80

Net cash flow from operating activities $5,670

Cash flows from investing activities:

Purchase of office equipment ($2,020)

net cash flow from investing activities ($2,020)

Cash flows from financing activities:

Issuance of common stock $43,500

Paid dividends ($1,600)

Net cash flow from financing activities $41,900

Net cash increase during May $45,550

Initial balance of cash account $0

Ending balance of cash account (5/31) $45,550

Explanation:

operating cash flows:

rent expense ($2,400)

cleaning services ($780)

service revenue $5,300 + $2,400 + $3,200

assistant's salary ($790)

accounts payable increased by $80

assistant's salary ($790)

utilities bill ($550)

total revenue = $10,900

total expenses = $5,310

net income = $5,590

investing cash flows:

purchased equipment for $1,940

purchased office equipment $80

financing cash flows:

Issuance of common stock $43,500

paid dividends ($1,600)

7 0

3 years ago

Which activity is an example of differentiated marketing? A. An automobile company promotes small family cars and sports utility

bogdanovich [222]

Answer: A. An automobile company promotes small family cars and sports utility vehicles to a specific demographic.

Explanation:

Differentiated marketing is a form of marketing that occurs when the advertisement that is done by a particular company appeals to some particular target audiences or segments. Thus is usually done by the company to get ire customers and also enhance the brand awareness.

In this case, the activity that is an example of differentiated marketing will be option A. "An automobile company promotes small family cars and sports utility vehicles to a specific demographic".

7 0

3 years ago