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RideAnS [48]
3 years ago
7

Under cash-basis accounting, if a company provides services to a customer in the current year but does not collect cash until th

e following year, the company should report the revenue in the current year.
A. True
B. False
Business
1 answer:
PIT_PIT [208]3 years ago
3 0

Answer:FALSE

Explanation:CASH BASED ACCOUNTING is an accounting that is considered only when the money payment is effected. It does not take in account cash which has not been received. In the financial statements it will only include cash received during the year or period under review. This makes it different from Accrual based accounting which also includes cash not yet received but are been expected.

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What is a public good?
Pie

I believe your answer is B

A public good is a product or service that one consumer cannot present another consumer from using, and is accessible without  payment

7 0
2 years ago
Greg and Joyce have an adjustable rate mortgage on their home. What is the key feature of this type of loan?
vladimir1956 [14]

Answer: Interest rate can vary

Explanation: Based on the description of Greg's and Joyce's mortgage loan, the key term is the adjustable nature of the loan used to finance the mortgage. Being adjustable simply means not fixated. Hence, the interest on the loan is bound to change throughout the entire period of the loan. This type of mortgage loans are called ADJUSTABLE RATE MORTGAGE or FLOATING mortgage. The change in the interest rate applied on the outstanding balance of is usually at intervals which could be annually, semianually or monthly basis as the case may be.

6 0
2 years ago
A firm has a weighted average cost of capital of 11.68 percent and a cost of equity of 15.5 percent. The debt-equity ratio is 0.
asambeis [7]

The firms Cost of Debt is 9.62%.

Data and Calculations:

Weighted average cost of capital = 11.68%

Cost of equity = 15.5%

Debt-Equity Ratio = 0.65

Without taxes, the firm's Weighted Cost of Debt (WACC) = WACC - Weighted Cost of Equity

= 11.68% - (15.5% (1 - 0.65)

= 11.68% - 5.425%

= 6.255%

Unweighted cost of debt = 6.255%/0.65

= 9.62%

Thus, the firm's cost of debt is 9.62% while the weighted cost of debt is 6.255%.

Learn more: brainly.com/question/23044852

6 0
2 years ago
On june 1, 2022, spk company signed a $100,000, one-year, 6 percent note payable. Interest and principal are due at maturity. Wh
posledela

$3500 sum will spk record for interest expense in their december 31, 2022

Interest = $ 6000 for 12 months.

From June to December there will be 7 months due,

therefore 7/12x6000 = $ 3500

An interest expense is the fetched brought about by an substance for borrowed reserves. Intrigued cost may be a non-operating cost appeared on the salary explanation. It speaks to intrigued payable on any borrowings—bonds, credits, convertible obligation or lines of credit. It is basically calculated as the intrigued rate times the exceptional foremost sum of the obligation. Interest expense on the income statement represents interest accrued during the period covered by the financial statements, and not the amount of interest paid over that period. While interest expense is tax-deductible for companies, in an individual's case, it depends on their jurisdiction and also on the loan's purpose.

Learn more about Interest expense here

brainly.com/question/14185533

#SPJ4

6 0
1 year ago
Landrum Corporation is considering investing in specialized equipment costing​ $250,000. The equipment has a useful life of 5 ye
aalyn [17]

Answer: ARR = Average profit/Initial outlay x 100

               ARR = $19,000/$250,000 x 100

               ARR = 7.60%

The correct answer is C

               

               Depreciation = Cost - Residual value/Estimated useful life

                                       = $250,000 - $20,000/5 years

                                       = $46,000 per annum

               Average profit = Total profit/No of years

                                         = $325,000/5

                                         = $65,000

                                                                       $

              Average profit                           65,000

        Less: Depreciation                           46,000

       Average profit after depreciation   19,000

Explanation: In determining the accounting rate of return of the investment, there is need to calculate depreciation using straight line method. The amount of depreciation would be deducted from the average profit so as to obtain the average profit after depreciation. The average profit would be divided by the initial outlay in order to obtain the accounting rate of return.

5 0
2 years ago
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