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Lelechka [254]
3 years ago
12

Revenue is traditionally recognized in the accounting records when A. Cash is received. B. Services are rendered. C. It's incurr

ed. D. None of the above balance.
Business
1 answer:
sukhopar [10]3 years ago
4 0

The correct answer is choice b.

Revenue is normally recognized when the services are rendered. At this point in the accounting cycle you would make an entry to record the sale. It would be a credit to Sales/Revenue and a debit to either cash or accounts receivable.

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During the course of your examination of the financial statements of Trojan Corporation for the year ended December 31, 2015, yo
SVETLANKA909090 [29]

Answer:

<em>adjusted income:  92,830</em>

<em>adjusted income:  92,830</em>

<em>adjusted income:  92,830</em>

Explanation:

a) 20,400 contract for a year

20,400 / 12 = 1,700 value per month

from Oct 1st to Dec 31th:  3 months for a total of 5,100 expense

b) we should decrease revenue by 3,400

c) we should reverse 2,450 supplies expense and post under supplies

d) principal x rate x time = interest

64,000 x 0.09 x 4/12 = 1,920 interest expense

94,000 - 5,100 insurance expense + 3,400 unearned revenue +2,450 reversing of supplies expense - 1,920 interest expense

<em>adjusted income:  92,830</em>

6 0
3 years ago
Polar Containers makes​ high-end coolers for camping. The total task time needed to make a cooler is 310 ​seconds, with the long
Degger [83]

Answer:

TAKT time: 840 seconds

maximum output:  315 coolers.

Explanation:

The takt time refers to matching the production pace with the demand

\frac{availalbe-working-time}{customer \: or \: firm \: demand}

To produce 30 coolers per 7-hours day we need an outpot of:

7 hours x 60 minutes x 60 seconds = 25,200

output of 30 coolers

takt: 25,200 / 30 = 840 seconds

producing a cooler every 840 seconds is the takt time.

Maximum output:

If the company does several cooler in parallel it will have a bottle neck in the longest individual task so, this time determinates the maximum output.

25,200 second of working time available

80 second longest task to complete a cooler:

25,200 / 80 = 315 coolers.

7 0
3 years ago
The Doak Company has projected the following quarterly sales amounts for the coming year:
tester [92]

Answer: Check attachment

Explanation:

The cash collection was calculated as:

a. (90-45)/90 = 1/2

Q1 = 1700 + (1/2 × 3900)

= 1700 + 1950

= 3650

Q2 = 1950 + (1/2 × 4700)

= 1950 + 2350

= 4300

Q3 = 2350 + (1/2 × 4300)

= 2350 + 2150

= 4500

Q4 = 2150 + (1/2 × 3600)

= 2150 + 1800

= 3950

Check the attachments for further information.

6 0
3 years ago
g Let D1 represent the demand curve for premium seats to the Broadway hit Hamilton, and let S1 represent the supply curve for th
natali 33 [55]

Answer:

(a) $ 1200

(b) $ 702.5

Explanation:

In the demand and supply curve, the price of goods and services changes with respect to market conditions such as scarcity and consumers' needs. In the problem, if the producers charge about $497.50, the scalper will definitely charge a price higher than that of the producers, in this case, $1200. Thus, this is $702.5 (i.e. $1200 - $497.50) more than the producers' charge.

3 0
3 years ago
Uncle Fred recently died and left $280,000 to his 45-year-old favorite niece. She immediately spent $80,000 on a town home but d
Marrrta [24]

Answer:

6.06%

Explanation:

The computation of the rate of return is shown below:

Given that

NPER = 20 years

PV = ($280,000 - $80,000) = $200,000

PMT = $0

FV = $75,000 × PVIFA factor at 10% for 21 years

= $75,000 × 8.6487

= $648,652.50

The following formula should be applied

= RATE(NPER;PMT;-PV;FV;TYPE)

The present value comes in negative

After applying the above formula, the rate of return is 6.06%

7 0
3 years ago
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