1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
trapecia [35]
3 years ago
14

In 2017, Costello Company performs work for a customer and bills the customer $10,000; it also pays expenses of $3,000. The cust

omer pays Costello in 2018. If Costello uses the accrual-basis of accounting, then Costello will report:_____
a. revenue of $10,000 in 2018.
b. revenue of $10,000 in 2017.
c. net income of $7,000 in 2018.
d. expenses of $3,000 in 2018.
Business
1 answer:
IRINA_888 [86]3 years ago
7 0

Answer: revenue of $10,000 in 2017

Explanation:

Accrual basis of accounting is a method that is used in accounting whereby the revenue or expenses have to be recorded when the transaction is made and not when the payment dor the transaction is made or received.

Since we are told that Costello Company performs work for a customer and bills the customer $10,000 in 2017, therefore if Costello uses the accrual-basis of accounting, then Costello will report revenue of $10,000 in 2017.

You might be interested in
What is a subsidy wedge? the combined reduction in consumer surplus and producer surplus that results from a subsidy the amount
solmaris [256]

Answer:

the difference between the price that sellers receive and the price that buyers pay, resulting from a subsidy government cheese.

Explanation:

In Economics, subsidy can be defined as the amount of money or benefits such as tax reduction given by the government to sellers in order to sustain production and enable the buy to continuously purchase the product.

A subsidy wedge can be defined as the difference between the price that sellers receive and the price that buyers pay, resulting from a subsidy government cheese.

8 0
4 years ago
What is the similar about negative growth rate and zero growth rate?
kifflom [539]
The similarity of negative growth rate and zero growth rate is that there is no growth towards a positive output. For example, if the business is currently in either state, it is not earning. It may be very stagnant (for zero growth rate) or losing (for negative growth rate). Which either the case may be, it is not beneficial to the business owner. 
3 0
3 years ago
Read 2 more answers
In a market economy, a. households decide which firms to work for and what to buy with their incomes. b. firms decide whom to hi
expeople1 [14]

Answer:

d. Both a and b are correct.

Explanation:

Under a market economy the agents are free in both ways, they can arrenge their decision in open negociation with their supplier/employeer and can choose between the goods produced in the economy which ones to consume or not.

While in a communist economy it is a central planner who decide the output and payment for the families job.

3 0
4 years ago
Tom lives in an apartment where he pays $8,000 a year in rent. Sarah lives in a house that could be rented for $10,000 a year. H
Misha Larkins [42]

Answer:

these housing services contribute to GDP =   $18000

Explanation:

given data

Tom pay rent = $8000

Sarah house  rented = $10,000

solution

housing services contribute to GDP is express as

housing services contribute to GDP = Tom pay rent + Sarah house rented ............1

As GDP include both rent and estimate rent owner occupy home

put here value in equation 1 we get

housing services contribute to GDP =  $8000 + $10000

housing services contribute to GDP =   $18000

5 0
3 years ago
Shelly manages a jewelry store that offers a range of different designs to customers. She recently received new inventory of som
sweet-ann [11.9K]

Answer:

The correct option is D

Explanation:

As Shelly who manages the jewellery store received an inventory, which wants to display in her store. So, in order to make the design visible to every customer who visit her store or passes by her store, will see the design. Therefore, she should place the design at the eye level so that every customer could easily see the design.

4 0
3 years ago
Other questions:
  • Loyal customers are price _____________ compared to brand-shifting patrons.
    7·1 answer
  • Tom Klem is the controller of Watson Manufacturing, Inc. He estimates that the company’s breakeven point in sales dollars is $2
    5·1 answer
  • Which of the following statements is true?
    15·1 answer
  • Resale price maintenance occurs when: a. the manufacturer suggested retail price. b. minimum prices are enforced. c. consignment
    10·1 answer
  • airline tickets may be charged directly to the organization, or the traveler may pay and be reimbursed by the company?
    13·1 answer
  • What are the causes of xenophobia​
    15·2 answers
  • On April 1, a patent with an estimated useful economic life of 12 years was acquired for $1,500,000. In addition, on December 31
    15·1 answer
  • Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional
    5·2 answers
  • If the quantity demanded of a good does not change much when the price change, the good is relatively
    7·1 answer
  • Austin Company uses a job order cost accounting system. At the beginning of the year, the company's executives estimated that di
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!