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3 years ago

If your income varies, you should

Business

1 answer:

MAXImum [283]3 years ago

7 0

Answer:

b. list the average amount.

Explanation:

If your income varies, you should "list the average amount".

When a particular set of values vary, an average value is used. Average value is actually the estimated value which is found in two or more varying values. It gives an idea of what an expected value will be.

So, when income varies, the average amount is expected to be listed. This is done in order compensate even the lowest amount. So if two income varies, the average amount can be determined by adding the highest amount to the lowest amount, and dividing the outcome by 2.

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Record journal entries for the following transactions. (a) On December 1, $18,000 was received for a service contract to be perf

Aliun [14]

Answer:

See explanation section

Explanation:

(a) December 1 Cash Debit $18,000

Unearned revenue Credit $18,000

Note: The company received the money in advance for a contract to do during December to April. Therefore, they received cash while a liability increased due to receiving advance money.

(b) December 31 Unearned revenue Debit $3,600

Service revenue Credit $3,600

Note: As the company started performing, after the completion of 1st month, i.e., December 1 to December 31, the advance money started expiring because of providing services. Moreover, as the service is performed evenly for 5 months, the 1st month's revenue = $(18,000/5) = $3,600.

5 0

3 years ago

Based on what you have read, what is the opportunity

Crazy boy [7]

Answer:a higher quality item

Explanation:

A higher quality them

5 0

3 years ago

Consider a bank that has the following balance sheet: Liabiiiies Reserves $200 Deposits $960 Loans $800 Equity $40 Suppose some

Andru [333]

Answer:

d) The value of equity is $0

Explanation:

Bank loans are classified as performing and nonperforming loans. Nonperforming loans that stay for over a long period (usually 12 months) are considered to be a loss.

When a bank makes a loss on loans (loan goes bad due to nonrepayment) they make provisions and debit the business equity for the loss.

The given loan amount is $800 and the bank had to provision 5% of that amount.

Loss from loan= 800* 0.05= $40

This is deducted from equity= 40- 40= $0

7 0

3 years ago

f the unemployment rate is 8 percent, this means: a. 8 percent of the population is unemployed. b. 8 percent of the population o

hodyreva [135]

Answer:

c. 8 percent of the labor force is unemployed.

Explanation:

The Unemployment Rate measures the percentage of the total labor force that is unemployed while actively seeking employment during the previous month. If the unemployment rate is 8 percent, this means 8 percent of the labor force is unemployed. That also means, out of all the people actively seeking employment during the previous month, 8 percent are still unemployed or jobless.

3 0

3 years ago

Tim is trying to compute how many salespeople his business needs for the upcoming year. He wants his salesforce to call on each

Vinvika [58]

Answer:

Tim's business should have 50 sales person

Explanation:

Number of customers = 1,000 customers

Call frequesncy to each = 50 times

Average Length of call = 2 hours

Average sales persons time = 2,000 hours per year

Total Time = Customers x Average time per call x Call frequesncy

Total Time = 1,000 x 2 x 50 = 100,000 hours per year

Number of Sales people required = Total time / Average time per sales person = 100,000 / 2,000 = 50 sales person

4 0

3 years ago

Read 2 more answers