Answer:
June 30
Explanation:
According to the revenue recognition principle, the transaction should be recorded in the books of accounts when the sale is made. It records that revenue which is earned and the possibility of the receipt of cash should be high.
It records that when the product and services are sold to the customer and in return customer received it. Whether the payment received later but the sale is made.
So, on June 30, the revenue should be recognized.
Answer:
The fans as they purchase tickets
Explanation:
The government has imposed a $2 tax per seat. The stadium management will increase the price of tickets per seat by at least $2. It means the customers (fans) will pay an extra amount per seat to cater for the taxes.
The stadium management will act as a tax intermediary. They will collect the $2 per seat tax from the ticket sales and remit it to the government.
Answer:
C. $ 0.
Explanation:
Provided that
Book value of the old machine = $81,300
The Fair value of the old machine = $91,400
So, we can see that there will be a gain of
= Fair value - book value
= $91,400 - $81,300
= $10,100
But this gain would not be recognized in case of lacking commercial substance. So, there would be zero gain or loss
After implementing a solution to a given work-related problem, the manager should EVALUATE THE OUTCOME OF THE SOLUTION.
The evaluation of the chosen solution is very important, it is needed to determine whether the solution chosen effectively take care of the problem or not. The evaluation process examines the effectiveness of the solution. <span />
Answer: Principle of contribution
Explanation:
The principle of value states that if the increase in the value of the real estate is more than the cost to renovate, the sellers would financially benefit by doing the renovation is referred to as the principle of contribution.
According to the principle of contribution, the worth of an improvement of a property has to do with its addition or contribution the the property's market value and not the cost of the improvement done.
