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aalyn [17]
3 years ago
15

In October of the current year, Jasmine received a $15,520 payment from a client for 32 months of rent. The rental period begins

on September 1 of this year. This amounts to $485 per month. Jasmine is a calendar-year taxpayer. What amount of the $15,520 payment, if any, must Jasmine recognize this year if she uses the accrual method of accounting
Business
1 answer:
serg [7]3 years ago
5 0

Answer:

Jasmine recognize $1,940 this year if she uses the accrual method of accounting.

Explanation:

The Accrual or Matching Concept in accounting requires revenues and expenses to be recorded in the period i which they occur or incur.

The entry to record the receipt of payment is :

Cash $15,520 (debit)

Unearned Rental Income $15,520 (credit)

By the end of the year on 31 December, 4 months rent income starting September will have been earned and entries are as follows :

Unearned Rental Income $1,940 (debit)

Rental Income $1,940 (credit)

Rental Income calculation = $15,520 × 4 / 32

                                           = $1,940

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The Haskins Company manufactures and sells radios. Each radio sells for $76.00 and the variable cost per unit is $40.00. Haskin'
nevsk [136]

Answer:

The answer is $36.00

Explanation:

Contribution margin per unit is when variable cost per unit is subtracted from selling price per unit. Contribution is that part of revenue that was not used by variable costs and was used to cover fixed costs

selling price per unit = $76.00

variable cost per unit = $40.00

Therefore, contribution margin per unit is $76.00 - $40.00

= $36.00

5 0
2 years ago
Gabriele Enterprises has bonds on the market making annual payments, with twelve years to maturity, a par value of $1,000, and s
wariber [46]

Answer: 6.01%

Explanation:

To solve this question, we.will use the financial calculator. Based on the information given, then we will have:

FV = Future Value = $1,000.00

PV = Present Value = -$960.00

Bonds yield = 6.50

N = Number of years = 12

Therefore, CPT > PMT = Payment will be = $60.0973

Then, Coupon rate will be:

= Payment / Face Value

= 60.0973 / 1000

= 6.01%

3 0
2 years ago
If abc company earned $280,000 in net income and paid cash dividends of $40,000, what are abc's earnings per share if it has 80,
Nadya [2.5K]
<span>To find earnings per share, simply divide the company's net income by the number of shares that are outstanding. In this case, the values are $280,000/80,000. This gives a value of $3.50 for the earnings per share outstanding. Dividends, in this case, are not necessary for the calculation.</span>
3 0
3 years ago
Financial statements are influenced by five important forces that determine a company's competitive intensity: (A) industry comp
Ivan

<u>Full question:</u>

Financial statements are influenced by five important forces that determine a company's competitive intensity: (A) industry competition, (B) buyer power, (C) supplier power, (D) product substitutes, and (E) threat of entry.

Select one:

True

False

<u>Answer:</u>

Financial statements are influenced by five important forces that determine a company's competitive intensity - True

<u>Explanation:</u>

Michael Porter’s five forces of rival(s) can be applied to monitor and investigate the competitive edifice of an industry by attending 5 forces of opposition that impact and form profit potential.   Supplier power. An evaluation of how simple it is for suppliers to force up prices.  Buyer power. An estimation of how accessible it is for buyers to push prices dropping.

Competitive rivalry. The principal driver is the quantity and ability of competitors in the market.  The threat of substitution. Where close alternate goods endure in a market, it improves the likelihood of customers shifting to alternatives.  The threat of new entry. Favorable markets bring new entrants, which decays profitability.

3 0
3 years ago
A community college might grant all of the following degress except
klio [65]
I would say a technical program certificate, i hope i helped, have an amazing day :)
3 0
3 years ago
Read 2 more answers
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