Answer:
December:
Dr cash $16,000
Cr subscription revenue $16,000
Dr cash $216,000
Cr unearned revenue $216,000
January 2017:
Dr unearned revenue $18,000
Cr subscription revenue $18,000
Explanation:
The sales of 4000 copies at the newstand means that revenue of $16,000($4*4000) has been earned in December,which means that cash would debited with $16,000 and sales revenue credited with the same amount.
In December,the subscriptions received in advance for 2017 of $216,000($36*6000) would be debited to cash and credited to unearned revenue account.
At the end of January,the unearned revenue would be debited with $18,000($216,000/12) in respect of subscription earned as a result of the Magazine been mailed to subscribers in the month,which now entitles the company to one month subscription as earned sales revenue.
Answer:
Under last in, first out (LIFO) inventory method, the units purchased last are used to determine the cost of goods sold. This doesn't mean that exactly the last units purchased will be sold first, it is just used as an accounting tool.
In this case, the last unit purchased costed $20, and the immediately previous one costed $15. Under LIFO, these 2 units would have been sold (COGS = $35), and the ending inventory = $10 (the price of the "oldest" unit).
Answer:
The answer is Option D.
Explanation:
The answer is Option D.
The direct costs (materials and labor) will change if the production level varies. They are defined as the costs that are strictily related with the production of the product or service.
The fixed manufacturing overhead will vary independently of the variations of the production level. This is an example of indirect cost.
Answer and Explanation:
The answer is attached below
Explanation:
the rent start on February first and paid 400 the expense rent are for 29 days on 13.7 USD per day
