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3 years ago

If a company is using the accrual basis accounting method, when should it record its earned revenue?

Business

1 answer:

BigorU [14]3 years ago

4 0

Answer: b

Under the accrual basis of accounting, expenses are matched with the revenues related to it and/or are reported when the expense occurs, and not just when the cash is paid. The company should record its earned revenue when services are rendered. Payment may come at a later date.

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Dillan contracts with Al's Tree Service for the purchase and installation of six maple trees along the edge of his property line

Lapatulllka [165]

Answer:

Option A. The UCC because it is a mixed contract predominately for the sale of goods.

Explanation:

The Universal Commercial Code deals with all the transactions that are connected with the transaction of goods that have physical existence. If the transaction also includes the share of services which forms part of contract and are minor in amount then it is also governed by the UCC otherwise it is out of the scope of the Universal Commercial Code.

In the given question, transactions are predominantly for purchase of goods which also includes the installation service is within the scope of UCC.

Furthermore, if the mixed contract was predominantly for services then it is out of the scope of UCC. So the right answer is option A.

4 0

3 years ago

roxy’s average monthly expense for her dog is $ 180 . roxy spends an average of $ on food each month. even though roxy spent mor

erica [24]

The SMART goals for Roxy will be illustrated as:

Specific: Roxy wants to start saving for an emergency fund.

Measurable - Roxy simply needs to measure the amount of money that she is getting every month and how much she uses for necessities.

Achievable- Roxy should think deeply whether she can keep up with it and if it is doable. Can she contiously put money into the fund every time she gets paid?

Realistic- Roxy's goal is what she could need in the future, she needs to think if this goal is something she needs for the future. Is this something that is realistic for her to do?

Timely - The goal should be timely. This is important for the accomplishment of the goal.

<h3>What is SMART?</h3>

The acronym S.M.A.R.T. provides guidelines for setting goals and objectives for better results in project management, employee performance management, and personal development, among other areas. George T. Doran first coined the phrase in the Management Review issue from November 1981.

In this case, the SMART goals for Today have been explained above.

Learn more about SMART on:

brainly.com/question/8986181

#SPJ1

Creating a Personal Budget

The amount of money used for basic personal expenses such as housing, food, transportation, and taxes is called the cost of living. The cost of living for a city indicates how expensive or inexpensive it is to live there. Explore the cost of living for a few different cities.

Roxy is planning to move to Fort Lauderdale, Florida, and work as a nurse. She has one dog and no children. She uses public transportation and plans to rent an apartment when she moves. The new company she’ll work for pays employees bimonthly, which means twice a month. In this activity, you’ll help Roxy make a budget.

Part A

Roxy decides that she wants to set a financial goal of saving for an emergency fund. Write about some of the ways Roxy could make her financial goal a SMART goal.

Remember, a smart goal adheres to the SMART acronym:

Specific

Measurable

Achievable

Realistic

Timely

6 0

1 year ago

A local partnership has assets of cash of $5,000 and a building recorded at $80,000. All liabilities have been paid. The partner

DaniilM [7]

Answer:

$28,000

Explanation:

we need to calculate the loss on the sale of the building:

sales price - basis = $50,000 - $80,000 = ($30,000)

Harry = ($30,000) x 40% = ($12,000)
Landers = ($30,000) x 40% = ($12,000)
Waters = ($30,000) x 20% = ($6,000)
total loss = ($30,000)

the partners basis:

Harry = $40,000 - $12,000 = $28,000
Landers = $30,000 - $12,000 = $18,000
Waters = $15,000 - $6,000 = $9,000
total = $55,000

Since the partners' basis ($55,000) equal the total available cash ($5,000 cash and $50,000 proceeds from sale = $55,000), then each partner will receive an amount equal to their basis.

Harry = $28,000
Landers = $18,000
Waters = $9,000

4 0

2 years ago

A recent meta-analysis of 124 studies by jane kroger and her colleagues found that a large portion of individuals were _____ by

ozzi

The correct words to fill in the blank are:

<u>“not identity achieved”</u>

<span>What Jane Kroger meant by not identity achieved was that in his meta-analyses, a large portion of youths exiting tertiary education or reaching their twenties have not yet constructed a sense of their own identity.</span>

3 0

3 years ago

Brent called insurance companies and got insurance quotes for the three trucks. Both the 1996 Ford F150 and the 1998 Chevy 1500

Reika [66]

The sources that one could use to gather some more reliable information regarding the insurance companies are;

Annual Reports
Magazines
Newspaper
Television Advertisement
Websites.

<h3>What is a paced decision making process?</h3>

P - Problem - there is a need to make a choice

A - Alternatives - The alternatives here are two insurance companies

C - Criteria - We need to establish the company that is more reliable

E - Evaluate - This is the process of comparing information obtained about both companies

D - Decision making - This is the process of making a decision to go with the best insurance company.

Learn more about Paced Decision making:
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4 0

2 years ago