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Ber [7]
3 years ago
15

In the month of March the Digby Corporation received and delivered orders of 189,000 units at a price of $15.00 for revenue of $

2.835mil for their product Deal. Digby uses the accrual method of accounting and offers 30 day credit terms. By the end of May Digby had collected payments of $2.835mil for the March deliveries. How much of the collected $2.835mil should Digby show on the March 31st income statement and how much on the May 31st income statement?
Business
1 answer:
Basile [38]3 years ago
4 0

Answer:

$2.835 in March and $0 in May.

Explanation:

As per the data given in the question,

The actual method of accounting is that the revenue is not recognized in the period when the actual cash is received but the period in which it is earned.Hence, May-31 income statement will not recognize any part of revenue and March-31 income statement will recognize the whole revenue of $2.835 million.

Hence, $2.835 in March and $0 in May.

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According to the erosion model of organizational commitment, the employee with the fewest emotional bonds is the most likely to
Likurg_2 [28]

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The erosion model explains that an organization's employee who have less or fewer emotional bonds tend to quit the organization because they do not feel or get involved in the organization, or they don't feel any attachment to it.

Here the social influence model states that suppose when two employees are closely related or have good terms, so if one of them quits their work, then the other one is more likely to follow them and leave the organization.

Hence, the erosion model suggests that employees with fewer bonds will be most likely to quit the organization.

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4 0
2 years ago
Current Attempt in Progress
Allisa [31]

Answer:

Net Increase in cash = $124,200

Explanation:

Note: The correct value for Year 2021 inventory is $510,300 not $10,300.

Also note: See the attached excel file for the statement of cash flows for 2022.

In the attached excel file, the following workings are used:

Workings:

w.1: Increase in accounts receivable = Account receivable in 2022 - Account receivable in 2021 = $237,600 - $205,200 = $32,400

w.2: Decrease in inventory = Inventory in 2022 - Inventory in 2021 = $450,900 - $510,300 = -$59,400  

w.3: Decrease in accounts payable = Accounts receivable 2022 - Accounts receivable 2021 = $105,300 - $116,100 = -$10,800

w.4: Disposal of land = Land in 2021 - Land in 2022 = $270,000 - $216,000 = $54,000

w.5: Purchase of equipment = Equipment in 2022 - Equipment in 2021 = $702,000 - $540,000 = $162,000

Download xlsx
3 0
3 years ago
How do I make ice cream
dedylja [7]
Stir sugar, cream and milk into a sauce pan over low heat until sugar has dissolved  Heat just until mix is hot and a small ring of foam appears around the edge. 2. Transfer cream mixture into a pour able container such as a large measuring cup. Stir in vanilla extract and chill mix thoroughly, at least two hours. 3. pour cold ice cream mix into an ice cream container, turn on the machine, and churn according to the manufacturers directions.  20 to 25 min. 4. When ice cream is softly frozen, swerve immediately or place a plastic wrap  directly on the ice cream and place in freezer to ripen, 2 to 3 hrs <span />
8 0
3 years ago
Read 2 more answers
What is capacity budgeting​
irga5000 [103]

Answer:a company's ability to utilize money and workforce when producing goods or offering a service.

Explanation:

5 0
3 years ago
Tanuja Singh is a CPA and operates her own accounting firm (Singh CPA, LLC). As a single-member LLC, she reports her accounting
AnnyKZ [126]

Answer:

Tanuja is not entitled to a QBI deduction in 2019.

Explanation:

Tanuja has QBI from her accounting firm of $540,000

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4 years ago
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