Answer:
Aria Perfume, Inc.
There are two performance obligations involved in each sale of a box of soap.
Explanation:
a) Data and Calculations:
Number of boxes of white musk soap sold during January 2021 = 3,210
Sales price per box = $90
Performance Obligations:
Sale of box = $87.30 (97%)
Refund for returned boxes = $2.70 (3%)
Total Sales revenue to be accounted for = $280,233
Total refund expense to be accounted for = $8,667
Cash receipts should total = $288,900
b) The performance obligations are for the sale of a box of soap (97%) and refund (3%). With a sales price of $90 per box, the sales obligation should be $87.30 per box, while the refund obligation has $2.70 per box, which must be provided and accounted for separately.
Answer:
option (c) $35,556
Explanation:
Data provided in the question:
Assets = $200,000
Asset Adjusted Basis FMV
Inventory $25,000 $50,000
Equipment $60,000 $40,000
Supplies $20,000 $20,000
Building $80,000 $95,000
Land $10,000 $20,000
=========================================
Total $195,000 $225,000
=========================================
Now,
FMV is greater than Basis
thus,
Percentage FMV on Equipment =
or
Percentage FMV on Equipment =
= 17.77%
Therefore,
= Percentage FMV × Assets
or
= 17.77% × $200,000
= $35,555.56 ≈ $35,556
Hence,
The correct answer is option (c) $35,556
Certificates of deposit exist as funds that the bank keeps on hand that exists not loaned out or invested in bonds.
<h3>What are certificates of deposits?</h3>
Unsecured negotiable promissory notes, or certificates of deposit (CDs), are frequently issued by commercial banks and other financial organizations.
A certificate of deposit (CD) is a type of savings account where the issuing bank pays interest in exchange for holding a specified sum of money for a predetermined length of time, such as six months, a year, or five years. You will receive the amount you initially invested plus any interest when you cash in or redeem your CD.
Bonds and certificates of deposit (CDs) are comparable but not the same. Both of these securities are fixed-income investments that the holder keeps until the due dates. Investors invest money in bonds or CDs for a predetermined amount of time, and when that time expires, they receive their money back.
To learn more about certificate of deposit refer to:
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Answer:
false
His purchase left GDP unchanged
Consumption of non durables would increase.
Also, net export would decrease.
these effects would cancel out
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports