Answer:
d. $9,000; $9,000
Explanation:
As cash received on January 1 in advance to provide service in one year which is completed on December 31. So all the Unearned revenue is recognized because service for 12 month has been performed so whole amount will be reported in Income statement for the year ended December 31. Only cash received is from the service revenue activity so, it is also reported as $9,000. correct option is d. $9,000; $9,000.
Answer:
Garza's net sales equals $143250.
Explanation:
Net sales = gross sales - sales return - sales discount
= $149,000 - $3,525 - $2,225
= $143250
Therefore, Garza's net sales equals $143250.
Answer: Please see answer in explanation column
Explanation:
a)Account titles and explanation Debit Credit
Warranty Expense $30,000
Warranty Payable $30,000
Calculation :
2 % x $1,500,000 =$30,000
b) Account titles and explanation Debit Credit
Warranty Provision $445
Materials $325
Salaries Payable $120
In some cases, supply curves are vertical, which means that for any price from 0 up to infinity, the quantity will stay the same.
This is very true for supply of an authentic painting in auctions, where there may only be 1 single painting, and people state the highest price they are willing to pay for the painting. Regardless of the price, there will only be 1 authentic painting for that price.
Hope this helps! :)
