Answer:
The Journal entry is as follows:
Cash A/c Dr. $288,000
To Unearned basketball ticket revenue A/c $288,000
(To record the sale of the season tickets)
Workings:
Given that,
Total number of tickets sold = 4,800
Selling price of ticket = $60 each
Cash = season basketball tickets sold × Selling price of each ticket
= 4,800 tickets × $60 per ticket
= $288,000
Five members of the board must hold valid cosmetology licenses and shall have been working as cosmetologists for at least five years in this state. This statement is TRUE.
- A seven-member Board of Cosmetology is established inside the department. Its members will be selected by the governor and confirmed by the Senate, and its job will be to carry out the terms of this act.
- The rest of the unexpired terms on the board may be filled by the Governor at any time.
- Each appointee must take the constitutional oath of office and submit it to the Department of State before beginning their duties as board members.
- The board will choose a chair and vice chair from among its members in the month of January.
- The board will hold as many meetings as it considers necessary throughout the year, one of which will be the annual meeting.
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Answer:
the Cash Received from Customers is $548,400
Explanation:
The computation of the cash amount received by the customers is as follows:
Cash Received from Customers is
= Sales + Decrease in Accounts Receivables
= $516,400 + $32,000
= $548,400
hence, the Cash Received from Customers is $548,400
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
B) making warranties easier to understand.
Explanation:
The Magnuson Moss Warranty Act of 1975 governs consumer product warranties. Manufacturers are not required to offer product warranties, but when they do, they are required to provide clear and detailed information about warranty coverage. This law applies only to products, it doesn't apply to services.
Answer:
Balance Sheet / Statement of Financial position is used to measure the current financial position of the company.
Explanation:
Balance Sheet / Statement of Financial position is used to measure the current financial position of the company. It shows the value of assets liabilities and capital invested in the company. It also provides the net financial value of the company after paying all the liabilities. On the other hand the Income statement or Statement of Financial performance shows the performance of the company in a specified period of time.