Answer:
C. The company will recognize $5000 of revenue in year 1 and $5000 of cash flow from operation in year 2
Explanation:
As, the company is using accrual based accounting, that means that if the services are rendered the company needs to record the revenue regardless of the company is getting cash or not. So, in year 1 the company provided $5000 of services. The company will record $5000 of revenue in its income statement in year 1. But the thing is, company is not getting cash in year 1. Guadalupe is getting cash in year 2. company record the inflow and outflow of cash in cash flow statement when there is actually the cash transaction involved.
Cash inflow in year 2. so, $5000 of cash flow from operation in year 2.
Answer:
The first closing entry transfers credit balances in revenue ( and gain ) accounts to the income summary accounts.
Dec 31 Fees Earned $56,000 Dr
Income Summary $56,000 Cr
We bring account credit balances to zero by debiting them. The entry closes revenue accounts and leaves them with zero balances. The accounts are now ready to record revenues when they occur in the next period.
Answer: The probability that fewer than 50% of the students surveyed will express support for paying student government officers is 8.501 × 10^-65
Explanation:
Since fifty two percent (52%) of the surveyed students support the idea of paying student government officers, it consequently means that 48% (100% - 52%) of students are against the idea or not in support of it.
To find the probability that less than or fewer than fifty percent (< 50%) of the 400 surveyed students are in support, we must obtain the actual number of students that represent 50% of the individuals surveyed.
= (50/100) × 400
= 200 students.
Therefore, we are to find the probability that less than 200 of the surveyed students are in support of the payment. This means that at least, 201 of the surveyed students are not in support of the payment.
Since, 48/100 generally represents the percentage of students that are not in support of the idea, then we multiply 48/100 by itself up to 201 times. The opinions of the other 199 surveyed students doesn't matter
= (48/100)^201
= 8.501 × 10^-65
<span>If the federal reserve sells securities on the open market, purchases of US financial assets by foreigneres will increase which will increase interest rate and appreciate international value of dollar. So my answer would be : increase / increase</span>
