The Company recorded 660 x 74 = $48,840 in deferred revenue. This is a liability account that means they still owe the service or good which they have been paid for.
Every month, the company records an adjusting entry, recognizing one twelfth of the 48,840, 4,070, because they have earned another month of that deferred revenue by providing the magazine.
The journal entry on December 31, 2018, will be
Deferred Revenue 4,070
Revenue (4,070)
If this is the first time they've made the entry, then they will recognize earned revenue for Sep, Oct, Nov and Dec,
Deferred Revenue 16,280
Revenue (16,280)
<span>their primary difference can be defined as two companies that have different : business models
Amazon provide a medium so other sellers could sell their books through their sites. This way, they won't need any space for their house cause they sell other's product.
Meanwhile, barnes and nobles is a book retailer, which means they produce and put their own books to the stores.</span>
Answer:
B. French wines will become more expensive in the United States.
Explanation:
Exchange rate is the rate at which one currency can be exchanged for another during international trade. The strength of a currency determines how much of the other countrie's goods it can purchase.
When the strength of a countrie's currency is high it will purchase more of the other countrie's goods. If however the currency is weak, it will take more to buy the other countrie's goods.
In this case if the dollar falls against the euro, it will take more dollars to buy French wine than before.
For example if a bottle of French wine was $500, after the fall the price may now be $800.
Answer:
C. Nicholas is not required to recognize gross income, but must reduce his cost basis in the land to $130,000
Explanation:
Answer:
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