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joja [24]
3 years ago
5

Kline Corp. recognizes revenue over time to account for long-term contracts. The contract price is $5 million, total constructio

n costs are $3.75 million, actual costs incurred during the first year are $1.5 million, and the revenue recognized is $2 million. The journal entry to record revenue during year 1 is: (Select all that apply.) Credit: Revenue $2 million.
Business
1 answer:
dlinn [17]3 years ago
7 0

Answer:

The journal entry which is to be recorded is shown below:

Explanation:

Contract Price A/c...................................Dr    $500,000

Cost of constructionA/c.........................Dr   $150,000

                 Revenue A/c................................Cr   $2,000,000

As the company recording the revenue, so the revenue account is credited. It involves the cost of construction which is debited and the contract price account is debited.

Note: The options are missing. So, proving the journal entry in the answer.

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Ariel wants to compare the salaries for positions she was offered at two companies. What should she consider in this process?
german

Answer:

  • <em>She should research the cost of living of different locations to compare against the offered salaries.  </em>
  • <em>She should research the benefits included in each offer. </em>
  • <em>She should research the average salary of similar positions to see if the offers are fair. </em>

Explanation:

  • Remember, the cost living at the different locations is good basis to determine how much the actual value of he salary will be worth. For instance if location A pays her $5000 a month and her living expenses from the location takes about $4500, while location B pays her $3500 a month with a living expense of $1000, then she rather goes for location B she has more extra income.

  • Secondly, the benefits included in salaries is also to be considered. Does it includes medical insurance, transport allowance etc.?

  • Third the average industry pay level would also help Ariel know whether to accept any of the offers or not.

8 0
4 years ago
Read 2 more answers
Purchase furniture to srija rs 30000​
lorasvet [3.4K]

Answer:

rs 30000

Explanation:

rs 30000 = $407.47

Hope this helped!

4 0
4 years ago
The South Division of Wiig Company reported the following data for the current year. Sales $3,018,000 Variable costs 1,979,808 C
hram777 [196]

Answer:

(a) Compute the return on investment (ROI) for the current year.

Current ROI 8.72%

Explanation:

Sales 3,018,000

- Variable Cost 1,979,808

- fixed cost 594,600

Operating Income 443,592

Operating assets 5,087,200

Return on Investment

\frac{operating \: Income}{Average \: Assets}

ROI = 433,592/5,087,200 = 0.087197 = 8.72%

5 0
3 years ago
A causal approach should be used when:_____.
Gnesinka [82]

The correct answer is D. 4

Explanation:

In research, a causal approach is a research method used when the variables the researcher is studying have a cause/effect relationship. This means one of the variables originates the other (cause) or it is the consequence (effect). For example, if the researcher is studying the effects of literacy rate in access to job opportunities, the approach is causal. In this context, to use to approach it is key that the researcher wants to show one variable or factor determines the other through a cause/effect relationship. Thus, this is used when "the researcher must show that one variable determines the values of another variable".

6 0
3 years ago
Suppose that salsa sells for $4 in year 1 and $5 in year 2. A bag of tortilla chips sells for $6 in year 1 and $5 in year 2. Fur
kumpel [21]

Answer:

$3,200

Explanation:

With 200 jars of salsa and 400 bags of tortilla chips sold in year 2,

Nominal GDP in year 2, is the value of total sales using year 2 prices

Therefore, Nominal GDP = (200 * 5) + (400 * 5)

= 1,000 + 2,000

= $3,000.

Real GDP in year 2 is the value of total sales using the prices of the base year (year 1, in this case)

Therefore, real GDP = (200 * 4) + (400 * 6)

= 800 + 2,400

= $3,200.

6 0
3 years ago
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