Answer:
The cattle industry began in the far west and furnished the great plain areas with livestock. The cattle industry progressively lost its relevance because of the excessive westward expansion, resulting in competition for the industry. There was too much cattle, but not enough food and land to sustain such great populations of livestock.
Answer:
Debit Cash account (with the amount received)
Credit Accounts receivables (with the amount received)
Explanation:
Revenue is not recorded until the recognition criteria for the recognition of revenue has been met and this includes;
- the corresponding cost incurred in generating revenue can be reliably measured
- the goods or service has been delivered
Given that the service was performed in May, when half of the fee was received in April, the required entries then was
Debit Cash account
Credit Unearned revenue (with the amount received being half payment)
when the service was performed in May,revenue was earned
Debit Unearned revenue (with the amount received being half payment)
Debit Accounts receivable (with the amount yet to be received being half payment)
Credit Revenue (with the amount agreed for the service)
In June when the final payment is received,
Debit Cash account (with the amount received)
Credit Accounts receivables (with the amount received)
Answer:
$1,311,000
Explanation:
The computation of the operating cash flow is shown below:
As we know that
Operating cash flow = Cash flow from assets + capital spending - change in net working capital
where,
Cashflow from Assets = Cashflow to Creditors + Cashflow to Stakeholders
Cashflow to Creditors = Interest paid - Change in long term debt
= $140,000 - ($2,950,000 - $2,700,000)
= -$110,000
Now
Cashflow to Stakeholders
= Dividends paid - New issuance of the equity
= $500,000 - (($500,000 + $3,500,000) - ($460,000 + $3,200,000))
= $160,000
So,
Cashflow from Assets is
= -$110,000 + $160,000
= $50,000
Now
Operating cashflow is
= $50,000 + $1,320,000 + (-$59,000)
= $1,311,000
Answer:
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Answer:
$300
Explanation:
Given:
Society A
Society B
Society A will pay $140 per unit
Society B will pay $160 per unit
Commonly pay $140 for two units produced.
Computation:
Society will pay total amount for the public goods = $160 + $140
Society will pay the total amount for the public goods = $300
Therefore, $300 Is the total amount paid by society.
