1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nookie1986 [14]
3 years ago
11

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.

You might be interested in
In order to create a budget, you should _____.
True [87]
List your income and your assets and find the total. Iam not really sure that's the answer, but it sounds right.
5 0
3 years ago
Read 2 more answers
Miramar Industries manufactures two products, A and B. The manufacturing operation involves three overhead activities - producti
PolarNik [594]

Answer:

General overhead= $3.81 per direct labor hour

Explanation:

Given the following information:

General Overhead $80,000 Number of direct labor hours

Number of direct labor hours 9,000 12,000= 21,000

<u>To calculate the activity rate, we need to use the following formula:</u>

Activity rate= estimated costs / total amount of allocation rate

General Overhead= 80,000 / 21,000

General overhead= $3.81 per direct labor hour

8 0
3 years ago
Jacob wanted a parking space in a nearby lot. He filled out an application and a computer generated his choices. This is an exam
Andrej [43]

Answer: lottery

Explanation:

3 0
2 years ago
During 2018, its first year of operations, Pave Construction provides services on account of $154,000. By the end of 2018, cash
seraphim [82]

Answer:

Bad debts expenses                                        Debit                $ 11,750

Allowance for uncollectible receivables        Credit                                $ 11,750

Explanation:

The allowance for uncollectible accounts receivables balances are calculated as a percentage of the receivable balance.

The receivable balances as at December 31, 2018 is

Services provided on account                          $  154,000

Cash collections received                                 <u>$  107,000</u>

Receivables from services uncollected           <u>$    47,000</u>

Estimated percentage considered uncollectible     25 %

Allowance for uncollectible accounts   $ 47,000 * 25 % = $ 11,750

6 0
3 years ago
Robert started his company in his parents' garage because he could not afford to rent an office space. Most of his finances were
Levart [38]

Answer:

having lower overhead costs.

Explanation:

Robert started his company in his mother's garage so he did not have to pay rent or lease at the initial stage of his business. This gave him the opportunity to put his finances in essential aspects of his business.

Therefore he had an opportunity to reduce his overhead cost.

4 0
3 years ago
Other questions:
  • A city government is considering two types of​ town-dump sanitary systems. Design A requires an initial outlay of ​$400000 with
    6·1 answer
  • Managers are a critical part of any successful organization because​ ________.
    7·1 answer
  • Dr. Ruiz shares equal responsibility and liability with her colleagues in their small business, which is a medical practice. Her
    15·1 answer
  • When problems arise, you may talk to your supervisor or use the company’s ___________. A. Employee benefits B. Litigation policy
    5·1 answer
  • Three Bears Manufacturing produces an autominus quartz watch movement called OM362. Three Bears expects to sell​ 20,000 units of
    11·1 answer
  • You work for a Europe-based company that is interested in doing business internationally. As a top manager of the firm, you want
    13·1 answer
  • Which management program aims to reduce manufacturing defects to only 3.4 per million? reengineering total quality management ma
    7·1 answer
  • Marina Inc. sells and services sailboats. On April 1, Marina financed the purchase of its entire inventory with ACE Finance Comp
    5·1 answer
  • ​GEICO, the​ number-two auto insurer with ​$18 billion in revenue last​ year, spent ​$0.9 billion on advertising that year and p
    6·1 answer
  • Professional etiquette suggests you should send a(n) ____ to each person who agrees to meet with you in support of your career e
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!