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gladu [14]
4 years ago
12

On January 15, 2021, Bella Vista Company enters into a contract to build custom equipment for ABC Carpet Company. The contract s

pecifies a delivery date of March 1. The equipment was delivered on March 31. The contract requires full payment of $75,000 30 days after delivery. The revenue for this contract should be recorded on
Business
1 answer:
ArbitrLikvidat [17]4 years ago
3 0

Answer:

31 March 2021

Explanation:

The contract should be recorded on 31 March 2021 because according to the US Generally Accepted Accounting Principles, revenue should be recognize in the book only when service has been rendered to the customer, the selling price of product is fixed and confirmation of service arrangement and amount to be collected.

With regards to the above scenario, since the equipment was not delivered until 31 March, then 31 of March will be recognized.

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I believe the answer is A hope this help have a good day
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3 years ago
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Obenve one urgent social problem in your Community & conceptualise cocial Enterprise that can can solve the problem and make
atroni [7]

Correct question is-

Observe one urgent social problem in your Community & conceptualize social Enterprise that can can solve the problem and make at the same time.​

<u> What Is a Social Problem?</u>

A social problem is any condition or conduct that has negative consequences for large numbers of human beings and that is generally recognized as a condition or behavior that wishes to be addressed. This definition has both an objective component and a subjective thing.

<u>A current example is climate change: </u>

Although the overwhelming majority of climate scientists say that weather change (adjustments within the earth’s weather because of the accumulation of greenhouse gases inside the ecosystem) is actual and extreme, fewer than two-thirds of American citizens (64 percent) in a 2011 poll said they “think that global warming is occurring”

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8 0
2 years ago
Lester lent money to The Corner Store by purchasing bonds issued by the store. The rate of return that he and the other lenders
Alexxx [7]

Answer:

The correct answer is letter "E": cost of debt.

Explanation:

The cost of debt is the interest a company pays on its borrowings. It is expressed as a percentage rate. Also, the cost of debt can be calculated as a before-tax rate or an after-tax rate. Before interest is deductible for income taxes, the cost of debt is usually expressed as an after-tax rate.

7 0
3 years ago
Clooney Corp. establishes a petty cash fund for $200 and issues a credit card to its office manager. By the end of the month, em
AURORKA [14]

Answer:

1.Dr Postage expense $47

Dr Delivery expense $72

Dr Supplies expense $37

Dr Entertainment expense $25

Cr Petty cash $181

2.

Dr Petty cash $181

Cr Cash $181

Explanation:

Preparation of the Journal entry to record all employee expenditures and the entry to replenish the petty cash fund.

1.Since we were told to record all employee expenditures this means that the employee expenditures Journal entry will be recorded as:

Dr Postage expense $47

Dr Delivery expense $72

Dr Supplies expense $37

Dr Entertainment expense $25

Cr Petty cash $181

($47+$72+$37+$25)

2. Since we were told to record the entry to replenish the petty cash fund, this means that the petty cash fund will be recorded as:

Dr Petty cash $181

($47+$72+$37+$25)

Cr Cash $181

8 0
4 years ago
Similarities between organized Sector and Unorganised sector​
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The sector which is registered and follows government rules and regulations, having employees and employee unions is called as an organised sector. ... The sector that comprises of small-scale enterprises or units and is not registered with the governmen

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3 years ago
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