Answer:
b. Debit Unearned revenues for $400.
Explanation:
When money is received in advance for a service that is yet to be rendered, the money is accounted for as a liability called deferred or unearned income.
The entries are
Dr Cash
Cr Deferred revenue
when the service is rendered, revenue is said to be earned with the following entries passed
Dr Deferred revenue
Cr Revenue
Hence when $1,000 for services was received on December 1 and was recorded as a liability
Dr Cash $1,000
Cr Deferred revenue $1,000
when $400 had been earned
Dr Deferred revenue $400
Cr Revenue $400
Option b is right
b. Debit Unearned revenues for $400.
Answer:
$1,010,000
Explanation:
Calculation of Pension Expenses
Particulars Amount
Service cost $520,000
Add: Amortized prior service expenses $105,000
Add: Settlement amount ($665,000) ($6,650,000*10%)
Less: Expected return <u>($280,000)</u> ($3,500,000*8%)
Pension Expense for 2021 <u>$1,010,000</u>
The asset turnover = 1.84
<u>Explanation:</u>
Asset Turnover = Sales / Average total assets
First, we will calculate average total assets as below:
Average total assets = Beginning assets + Ending assets / 2
Beginning assets = assets on 12/31/2014 = $65173
Ending assets = assets on 12/31/2015 = $100676
Average total assets = = = $82924.5
Sales / Revenue = $152633
Now, putting these values in the asset turnover formula, we get,
Asset Turnover = Sales / Average total assets
Asset turnover = = 1.84
Answer: Professional benefits.
Explanation:
The illustration given in the question describes the professional benefit of listening. Cheyenne listened to her subordinates, which enabled her to identify the challenge her employees were facing and she was now able to solve the challenge, leading to a better work environment.
Answer:
Option d (reduction in the rate of inflation) is the appropriate option.
Explanation:
- Disinflation seems to be a decline throughout the pace of price growth that happens traditionally throughout a recession because this availability of commodities exceeds the threshold value for themselves.
- Although unlike deflation, whenever consumer prices inevitably decline, disinflation income levels don't collapse, perhaps the inflation rate appears zero.
Some other choices being made aren't connected to the circumstance offered. So the answer above is the right one.