Answer:
Accounts Receivable (Dr.) $87,000
Bonus receivable (Dr.) $29,000
Service Revenue (Cr.) $116,000
Explanation:
Expected Value at contract inception is :
($87,000 * 8 months + $29,000) * 80% = $580,000
($87,000 * 8 months - $29,000) * 20% = $133,400
Total = $713,400
$725,000 / 8 = $89,175
The service revenue is estimated to be 116,000 if there is no probability estimate. When the expected value is incorporated the service revenue will be $89,175.
Answer:
Aug 2 2013 Notes Receivable 6000 Dr
Accounts Receivable 6000 Cr
Oct 31 2013 Interest Receivable 180 Dr
Interest Revenue 180 Cr
Oct 31 2013 Cash 6180 Dr
Notes Receivable 6000 Cr
Interest Receivable 180 Cr
Explanation:
When the note is received, the customer account will be closed and accounts receivable will be credited while a new asset of notes receivable will be created and notes receivable is debited.
The interest on notes receivable is calculated assuming a 360 day year and the 12% is annual interest rate.
The interest on note is 6000 * 0.12 * 90/360 = $180
The interest is income so wull be credited while as it is receivable, the interest receivable will be debited.
On 31 October when the note is honored and cash is received, it will be total of principal + interest so cash = 6000 + 180 = 6180
As a result, the assets notes and interest receivables will be closed and credited against cash.
Answer:
Walking or using of bicycle
Explanation:
Use of legs are needed in both method of commuting. Leg muscles will be worked up and it also produces sweat that is equivalent to gym exercise
Answer:
The correct answer is (D) Add a mobile-app extension to her ad.
Explanation:
Application extensions allow you to link to an application for mobile devices or tablets from your text ads. People click on the title of your ad to go to your site or on the link to go to your application. Application extensions are an excellent way to provide access to your website and application from a single ad.
