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Genrish500 [490]
3 years ago
15

Flyer Co. billed a client for flying lessons given in January. The payment was received in February. Under the accrual basis of

accounting, when should Flyer record the revenue?
Business
1 answer:
blondinia [14]3 years ago
7 0

Answer:

Under the accrual basis of accounting the Flyer should record the revenue in January.

Explanation:

Under accrual basis of reporting revenue or income is recorded when earned. For example in case of manufacturing companies sales are recorded when the product is delivered.

Revenue is recorded on basis of performance obligation. The company shall record revenue on satisfcation of his performance obligation. If the payment is not received the company can record revenue against receivable.

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Joe Carie, head accountant, is using the indirect method and the account balance from the balance sheet and income statement to
natita [175]

Answer: c) increase cash flow from operating activities.

Explanation:

If there is a decrease in the Accounts Receivable, this means that some receivables have settled their debt to the company which means that the company got cash. Cashflow therefore increases.

Accounts receivables relate to Sales which is part of the operations of the business so this is an increase in cashflow from operating activities.

7 0
3 years ago
The standard quantity of materials allowed is computed as a.Unit Quantity Standard × Normal Output. b.Unit Quantity Standard × A
SpyIntel [72]

Option B

The standard quantity of materials allowed is computed as  Unit Quantity Standard × Actual Output.

<h3><u>Explanation:</u></h3>

A standard is a benchmark or "pattern" for ranking production. In managerial accounting, standards associated with the price and quantity of inputs utilized in producing goods or rendering services. The "standard quantity provided for the actual output" indicates the number of the input that should have been practiced to generate the actual output of the session.

It is measured by squaring the standard amount of input per unit of output by the actual output. To scale production, actual quantities accepted are related to standard quantities enabled.

8 0
4 years ago
When an organization evaluates people based on the economic or productive potential of their knowledge, experience, and actions
Kryger [21]

Answer:

Human Capital.

Explanation:

When an organization evaluates people based on the economic or productive potential of their knowledge, experience, and actions they are viewing them as human capital which is termed as an intangible asset for any organization but not present on an organization's balance sheet. Human capital is the economic value of the employees skills, expertise and experience which comprises of their training, education, health, intelligence, punctuality, values, ethics, corporate citizenship and loyalty etc.

5 0
4 years ago
Both production lines can produce all the different types of nozzles. The bronze machines needed for the bronze sprinklers requi
dsp73

Answer:

Demand for plastic sprinklers for year 1 Year 2 Year 3 and Year 4 is 98 (33 + 14 + 51) , 111 , 133, 136.  

Explanation:

The Production line capacity requirement for the next four years will be equal to the demand for the next four years. The production line needs to meet the annual demand for the plastic sprinklers. The production line is extended and economies of scale is introduced with helps the company save additional cost of extension in the production line.

5 0
3 years ago
Lupe's recorded balance was off by $43, and she thinks that it’s because she made a mistake in her records. What mistakes did sh
Ymorist [56]

Lupe entered her paycheck in the wrong column. She also forgot to record one of her purchases.

i'm doing this assignment rn too lol

7 0
3 years ago
Read 2 more answers
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