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liberstina [14]
3 years ago
12

Cash received before services are performed may be recorded as a debit to a Cash account and a credit to a liability account is

calleda. an unearned revenueb. an accrued revenue.c. accounts payabled. None of these answer choices are correct.e. an unrecorded revenue
Business
1 answer:
Orlov [11]3 years ago
8 0

Answer:  An unearned revenue

Explanation: When any individual or entity receives money from customers for such service which has not been performed yet, then such income is termed as unearned revenue.

Unearned revenue is considered to be the liability of the recipient and and asset for the payee.

So from the above explanation we can conclude that right option is unearned revenue.

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A credit granted to a customer for returned goods requires a debit to a. Accounts Receivable and a credit to a contra-revenue ac
12345 [234]

Answer:

d. Sales Returns and Allowances and a credit to Accounts Receivable.

Explanation:

The entry to record credit granted to customer entails :

Decrease the Assets of Accounts Receivable (credit entry) and Decrease the Sales Revenue (debit entry).

The Recognition of Sales Return and Allowance decreases Sales Revenue.

5 0
3 years ago
What return do you expect earn if you buy the 3 years ,10% coupon bond today and sell it in exactly 1 year( if current price is
IrinaK [193]

Answer:

8.02%

Explanation:

Since corporate bonds pay coupons semiannually, it would be important to first all determine the semiannual yield to maturity of this bond using a financial calculator as shown below:

We need to set the calculator to its end mode before making the following inputs:

N=6(number of semiannual coupons in 3 years=3*2=6)

PMT=50(semiannual coupon=face value*coupon rate/2=1000*10%/2=50)

PV=-1051.45 (current price)

FV=1000(bond's face value)

CPT

I/Y=4.02%

After one year, there would 4 semiannual coupons left, we can compute the bond price as shown thus:

N=4

PMT=50

I/Y=4.02(without % sign)

FV=1000

CPT

PV=1,035.56

The expected rate of return over one year is computed thus:

N=2(number of semiannual coupons in 1 year holding period)

PMT=50(the amount of each semiannual coupon)

PV= -1051.45

FV=1,035.56(selling price after one year)

CPT=4.01%(on a semiannual basis)

annual rate of return=4.01%*2=8.02%

7 0
3 years ago
Given the following information about the economy of Pakistan, calculate Pakistan's GDP. Note that the currency of Pakistan is t
oksano4ka [1.4K]

Answer:

  • <u><em>Pakistan's GDP = 13.53 trillions of rupees.</em></u>

Explanation:

<em>GDP</em> is the gross domestic product. It is the value of all the goods and services produced by an economy (a country), in a period, which is normally one year.

The <em>GDP</em> can be calculated with the equation:

GDP = Consumption + Investment + Goverment spending + Net Exports

Where, Net Exports is the value of the exports less the value of the imports.

Thus, the values that you need to sue to calculate the GDP are:

  • Consumptiion
  • Investment
  • Goverment spending
  • Exports
  • Import

<u>Identify</u> the values that you need to incorporate in your formula. Here is the selection (all the amounts are in trillions of rupees):

  • Consumption = individuals consume: 10.40
  • Investment = businesses invest = 1.35
  • Government spending = goverment purchases = 2.80
  • Exports = Pakistan exports = 1.29
  • Imports: Pakistan imports: 2.31

Those are all. Other items, i.e. foreigners spend (0.60 trillions of rupees) and individuals save (5.00 trillions of rupees), do not count for the GDP.

<u>Compute</u> (in trillions of rupees):

  • GDP = 10.40 + 1.35 + 2.80 + (1.29 - 2.31) = 13.53

<u>Answer</u>: Pakistan's GDP = 13.53 trillions of rupees.

4 0
3 years ago
Which of the following are included in qualified business income (QBI)? (All income is effectively connected with a trade or bus
Elina [12.6K]

Answer:

The correct answers are letters "C" and "D": Jane's Schedule C net profit;  Qualified Publicly Traded Partnership (PTP) income.

Explanation:

The Qualified Business Income Deduction or QBI allows up to 20% of deductions for people who file small businesses taxes in personal statements.  The rule mainly applies to all those activities developed in a sole proprietorship. Capital gains, losses, dividends, and interest are not eligible for this type of deductions. A schedule C (form 1040) or a qualified Publicly Traded Partnership (PTP) income can be subject to this deduction.

3 0
3 years ago
The opportunity costs associated with the use of resources owned by a firm are
bazaltina [42]
The opportunity costs associated with the use of resources owned by a firm are implicit costs.
7 0
3 years ago
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