Answer and Explanation:
for Accounts Receivable. At year-end, the L. Cole Company has completed services of $23,500 for a client, but the client has not yet been billed for those services:
accounts receivable is debited and service revenue is credited for $23,500 because the company has provided service to customer and so company would recognize revenue by crediting service revenue for increase in revenue and since the payment is not yet made accounts receivable being asset is debited for increase in balance.
for Interest Receivable. At year-end, the company has earned, but not yet recorded, $570 of interest earned from its investments in government bonds:
interest receivable is debited and interest income is credited for $570 because the company has earned interest and so interest is income for the company and so interest income is credited for increase in revenue. The interest is yet to be received by the company and therefore interest receivable being asset is debited for increase in balance.
for Accounts Receivable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,660 of work.:
accounts receivable is debited and service revenue is credited for $1,660 because the company has provided service to customer and so company would recognize revenue by crediting service revenue for increase in revenue and since the payment is not yet made accounts receivable being asset is debited for increase in balance.
Answer:
1. I grouped the costs into explicit and implicit costs below
2. accounting profit = 89000
3. economic profit = 3000
4. daniel should stay in the piano business
Explanation:
<u>explicit costs include</u>:
1. The wholesale cost for the pianos that Darnell pays the manufacturer at $452000
2. The wages and utility bills that Darnell pays at $301000
<u>the implicit costs include:</u>
1. The salary Darnell could earn if he worked as an accountant at $48000
2. The rental income Darnell could receive if he chose to rent out his showroom at $38000
<u>accounting profit</u><u>:</u>
842000-452000-301000
= 89000
<u>economic profit</u><u>:</u>
842000-452000-301000-48000-38000 = 3,000
<u>as an accountant economic profit</u><u>:</u>
48000+38000-89000
= -3000
so he should stay in the piano business so that economic profit would be maximized.
The member is assigned to wrote the final decision to the court
Answer:
<u>a. It can be a source of competitive advantage.</u>
<u>Explanation:</u>
<em>Remember</em>, a diverse workplace is one where you find a diverse range of individuals from different cultures, gender, race, age, sexuality, language, educational background, etc all working together to achieve the goals of the organization.
By having this diversity in the workplace an organization can rightly tap into the wealth of experience of its staff in understanding how to better position their products or services into the market.
Answer:
d income statement
Explanation:
this statement shows profit/loss
