Answer:
D.
Explanation:
To accrue means to grow or to accumulate over time. In accrual accounting, if the revenue recognition criteria are met in the current period, revenue will need to be accrued in the current accounting period even if cash will not been received until a later accounting period.
Accrued revenues is a type of account that require adjustment, to register the unrecorded revenues that have been earned and for which cash has not yet to be received.
The accrual journal entry to record the sale involves a debit to the accounts receivable account and a credit to sales revenue. If the sale is for cash, debit cash instead. The revenue earned will be reported as part of sales revenue in the income statement for the current accounting period.
It is the same for accrued revenue and for revenue on account.
The value of the CPI in 2006 is 82.61.
<h3>What is the value of the CPI?</h3>
The consumer price index measures the changes in price of a basket of good. It is used to measure inflation. Inflation is when there is a persistent rise in the general price levels.
CPI = (cost of basket of goods in current period / cost of basket of goods in base period) x 100
2010 is the base year because its CPI is 100.
(19,000 / 23,000) x 100 = 82.61
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Answer:
Doubtful
Explanation:
The company will record the uncollectible $5,670 of its accounts receivable as a debit to uncollectible accounts expense and a credit to the DOUBTFUL account.
This is evident in the fact that the bad debt allowance method has three main principles which are:
1. Calculate uncollectible receivables
2. Debit bad debt expense and credit allowance for doubtful accounts in the journal entry
3. Debit allowance for doubtful accounts and credit the corresponding receivables account when it is time to write off the account.
Answer:
The correct answer is letter "A": The convenience yield is always positive or zero.
Explanation:
The convenience yield reflects the premium of possessing an asset instead of one of its derivates or contracts. This situation arises in front of inverted markets, where holding the asset itself may bring more profits than purchasing a derivate of the same asset.
<em>The convenience yield tends to be positive or zero because the prices of assets cannot fall below zero. In other words, they are not negative.</em>
Answer:
$12,000 and $6,000
Explanation:
For computing the dividend, first we have to find out the yearly dividend which is shown below:
= Number of shares × par value per share × dividend rate × number of years
= 1,000 shares × $100 × 6% × 2 years
= $12,000
Out of $18,000, the $12,000 will be paid to preferred stockholders and the remaining $6,000 will be paid to common stockholders
