Answer:
$833
Explanation:
As per accrual basis of accounting, an income is recognized when it is earned and not when cash is received for it.
In the given case, customer purchased a service for 3 months.
The position as on 31st Dec is that only one third i.e 1 month of services out of 3 months has been provided and 2 months of services is due which is yet to be provided against the collective cash received.
Hence, the spa should recognize 2500/3 i.e <u>$833 </u>in revenue on it's December 31st, 2022 financial statements.
Money is a <u>medium of exchange</u> between individuals, corporations, and households for the exchange of any goods or services.
<h3>How money is a medium of exchange?</h3>
Money is known as the medium of exchange due to the fact cash is an extensively widely widespread token that may be used for the exchange of any <em>good</em> or service.
In antique days, the barter system changed into used as a medium of exchange and later it changed into gold.
Money performs several functions, but first and foremost it is a <u>medium of exchange.</u>
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When Toyota announces a product recall on its Camry model due to a faulty igniter, they are using reverse logistics to coordinate with dealers and car owners.
The reverse logistic is the process<span> of planning and controlling the flow of raw materials,</span><span>from the point of consumption. the goal is recapturing value or proper disposal.</span>
Answer:
The government should increase the rate of inflation.
Explanation:
In adaptive expectations, agents shape their future expectations based on what has happened in the past. Thus, if the central bank intends to reduce unemployment, it should, for example, institute an active monetary policy. This is because, as the Phillps Curve shows, inflation variation and unemployment are inversely correlated, so decreasing unemployment requires increasing inflation.
Answer:
a. $265,300
b. $449,600
Explanation:
Product costs are all the costs incurred in directly manufacturing a product (direct labor and direct materials), while period costs are indirect costs and include overhead, S&A expenses, etc. Period costs occurrence is directly related to the passage of time, e.g. equipment will depreciate whether it is used or not.
product costs:
- Direct labor $93,400
- Direct materials $171,900
-
total = $265,300
period costs:
- Marketing salaries $54,500
- Property taxes, factory $12,500
- Administrative travel $103,400
- Sales commissions $53,800
- Indirect labor $43,700
- Advertising $140,300
- Depreciation of production equipment $41,400
- total = $449,600