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Mice21 [21]
3 years ago
7

On September 1, Year 1, Great Lakes Equipment receives $24,000 from a customer for work to be performed evenly over the next 2 y

ears. What is the amount of revenue that Great Lakes Equipment should recognize on the income statement for the year ending December Year 1?
Business
1 answer:
posledela3 years ago
7 0

Answer:

Great Lakes should recognize on the income statement for the year ending December Year 1 $4,000

Explanation:

The income statement only recognize the amount of money that was generated during the period of the income statement.

If the company invoiced by month, it only recognize the total amount for the last four months of the year.  

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Let S(x) denote "x obeys the speed limit," where the domain is the set of all drivers. Express the negation of the proposition "
Ira Lisetskai [31]

Answer:

Using Quantifiers: ¬∃x¬S(x)≡ ∀xS(x)

English Language: All drivers obey the speed limit

Explanation:

The domain is the set of all drivers i.e. the domain of drivers

Let S(x) be the predicate “x obeys the speed limit.”

The above statement can be written as ∃x¬S(x),

The negation is represented by ¬∃x¬S(x)≡ ∀xS(x)

In English Language, it is ->, all drivers obey the speed limit

8 0
2 years ago
The open innovation technique that involves generating insights based on ideas from massive numbers of people is called Blank___
cricket20 [7]

According to the research, crowdsourcing is the open technique that involves generating insights based on ideas from massive numbers of people.

<h3>What is crowdsourcing?</h3>

It refers to a massive collaboration provided by individuals who are not part of an entity or institution.

It is an open modality of joint work of an indefinite number of people, who contribute their ideas for the development of a certain project.

Therefore, we can conclude that according to the research, crowdsourcing is the open technique that involves generating insights based on ideas from massive numbers of people.

Learn more about crowdsourcing here: brainly.com/question/14490967

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5 0
2 years ago
Valuation of a swap during its life will least likely involve the:
crimeas [40]

Valuation of a swap during its life will least likely involve in the application of the principle of no arbitrage.

<h3>What is Swap?</h3>

Swap involves two individual that exchanging properties or money. This individual use different tools for the exchange as desired by them.

Arbitrage allows for sale of goods or property at the highest asking price and valuation will most like involve in it.

Therefore, valuation of a swap during its life will least likely involve in the application of the principle of no arbitrage

Learn more on swap below,

brainly.com/question/22298763

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3 0
1 year ago
A customer with a moderate income from a secure job is in the 28% tax bracket. She has a small diversified portfolio and has $10
Fofino [41]

Answer:

a or b is the answer I am not sure so I gave two options

7 0
2 years ago
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,800 $ 35,625 $ 37,
Ede4ka [16]

Answer:

Simon Company

1-a) Current ratio =                          1.88            2.52             2.87

= Current assets/Current liabilities

1-b. The current ratio worsened over the three-year period.

2-a) Acid-test ratio =                      1.02            1.43             1.81

= (Current assets - Inventory)/Current liabilities

2-b) The acid-test ratio worsened over the three-year period.

Explanation:

a) Data and Calculations:

At December 31                        Current Yr     1 Yr Ago       2 Yrs Ago

Assets

Cash                                             $ 31,800    $ 35,625        $ 37,800

Accounts receivable, net              89,500        62,500          50,200

Merchandise inventory                112,500        82,500          54,000

Prepaid expenses                          10,700          9,375            5,000

Total current assets                 $244,500    $190,000      $147,000

Plant assets, net                         278,500     255,000       230,500

Total assets                            $ 523,000   $ 445,000    $ 377,500

Liabilities and Equity

Accounts payable                   $ 129,900     $ 75,250      $ 51,250

Long-term notes payable secured by

 mortgages on plant assets      98,500        101,500        83,500

Common stock, $10 par value 163,500       163,500       163,500

Retained earnings                      131,100       104,750         79,250

Total liabilities and equity    $ 523,000   $ 445,000   $ 377,500

1-a) Current ratio =                          1.88            2.52             2.87

= Current assets/Current liabilities

=  Total current assets                 $244,500    $190,000      $147,000

    Accounts payable                   $ 129,900     $ 75,250      $ 51,250

1-b. The current ratio worsened over the three-year period.

2-a) Acid-test ratio =                      1.02            1.43             1.81

= (Current assets - Inventory)/Current liabilities

Current assets - Inventory       $132,000    $107,500      $93,000

Accounts payable                   $ 129,900     $ 75,250      $ 51,250

2-b) The acid-test ratio worsened over the three-year period.

3 0
3 years ago
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