Answer:
The revenue principle requires the revenue to be recorded by the company on January 3, 2020.
Explanation:
Revenue recognition principle states that income is recorded when it is earned irrespective of when the cash is received.
Earning of Income neither means receiving of order as on December 15, 2019 nor commitment of completing the order as on December 28, 2019.
The customer pays for the services on January 6, 2020. This date will not be considered as the date of income earning.
Date of Income earning is when the services are rendered that is on January 3, 2020.
The Consumer Financial Protection Bureau (CFPB) is a governmental agency in the U.S whose aim is to protect the consumers through the management of financial products and services- credit cards and the like. Other objectives include acquainting the people of clever financial decisions.
Answer:
C. Adding the desired ending inventory of raw materials to the raw materials needed to meet the production schedule and subtracting the beginning inventory of raw materials.
Explanation:
In a budget workflow for raw materials, the relationship between the opening balance, purchase, requirement for production and ending balance may be stated as
opening + purchases - required = closing balance
Hence the raw materials to be purchased
purchases = closing balance + required - opening
C. Adding the desired ending inventory of raw materials to the raw materials needed to meet the production schedule and subtracting the beginning inventory of raw materials.
I don’t know what the password is but it was like a password for Amazon but if you want internet internet it will work on your
Answer:
$133,600
Explanation:
Straight line depreciation expense = (cost of asset - salvage value) / number of year
Cost of asset = $340,000 + $14,000 + $40,000 = $394,000
($394,000 - $60,000) / 5 = $66,800
The amount of accumulated depreciation at December 31, 2018 = $66,800 x 2 = $133,600
