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Mekhanik [1.2K]
3 years ago
5

The Jack Frost Law Firm prepays for advertising in the local newspaper. On January​ 1, the law firm paid $ 11 comma 000 for ten

months of advertising. How much advertising expense should Jack Frost Law Firm record for the two months ending February 28 under the
a. cash​ basis
b. accrual basis
Business
1 answer:
Svet_ta [14]3 years ago
8 0

Answer:

a. $11,000

b. $2,200

Explanation:

According to the cash basis accounting, the cash is recorded when actual cash is received

But as per the accrual basis of accounting, the revenue is recorded when it is realized or earned whether cash is received or not                      

So,

a. Cash basis = $11,000

b. Accrual basis

= $11,000 ÷ 10 months × 2 months

= $2,200

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Answer:

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4 0
3 years ago
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6 0
2 years ago
Happinessistheroad Corp. has the following information available regarding its labor: Managers expected to pay $11 per direct la
777dan777 [17]

Answer:

The actual labor rate per hour is $12

Explanation:

First and foremost, we need to understand that a direct labor spending variance of $990(unfavorable) means that the firm spent an additional $990 compared to what was expected.

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spending variance=(actual labor rate-standard labor rate)*actual labor hours

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8 0
2 years ago
) Service variability means that ________. A) the evaluation of services is subjective and changes from customer to customer B)
gavmur [86]

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3 years ago
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7 0
3 years ago
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