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4 years ago

At the start of this year 18 months rent was paid. At the year's end how will this affect the balance sheet

Business

2 answers:

Soloha48 [4]4 years ago

5 0

The correct answer to your questions is "Assets will be decreased."

NemiM [27]4 years ago

4 0

At the end of the year the item of the prepaid rent which included in the current assets would be decreased by 12 months rent of the year and would be shown the balance of 6 months rent for the coming year

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Superior Construction Co. was contracted to plaster all the buildings of a historical preservation project for $2,500,000 over t

Cerrena [4.2K]

Answer:

Gross Profit in Year 1 = $200000

so correct option is B. $200,000

Explanation:

given data

historical preservation project = $2,500,000

time = 2 year

estimated costs = $2,000,000

Actual costs Years 1 = $800,000

Actual costs Years 2 = $900,000

to find out

what amount of gross profit would Superior report in Year 1

solution

we find here first Percentage Completion that is express as

Percentage Completion = Cost to date ÷ Estimated Total Cost .............1

put her value we get

Percentage Completion = $\frac{800000}{2000000}$

Percentage Completion = 40%

and

Revenue Recognized will be here

Revenue Recognized = Percentage Completion × Total estimated Revenue ...............2

Revenue Recognized = 40 % × 25000000

Revenue Recognized = 1000,0000

so here Gross Profit in Year 1 will be

Gross Profit in Year 1 = Revenue Recognized - Cost to date of year 1 ..............3

Gross Profit in Year 1 = 1000,0000 - v800000

Gross Profit in Year 1 = $200000

so correct option is B. $200,000

3 0

4 years ago

Hich correlation coefficient is one most likely to find between hours spent studying each week and cumulative gpa among college

8090 [49]

<u>".30"</u> is one most likely to find between hours spent studying each week and cumulative gpa among college students.

The correlation coefficient is a statistical measure that figures the quality of the connection between the relative developments of the two factors. The scope of qualities for the relationship coefficient limited by 1.0 on a flat out esteem premise or between - 1.0 to 1.0. In the event that the relationship coefficient is more prominent than 1.0 or not exactly - 1.0, the connection estimation is inaccurate. A connection of - 1.0 demonstrates an immaculate negative correlation, while a connection of 1.0 demonstrates a flawless positive correlation. A connection of 0.0 shows zero or no connection between the development of the two factors.

3 0

3 years ago

Selected financial information for Thornton Company for 2019 follows: Sales $ 2,000,000 Cost of goods sold 1,400,000 Merchandise

frutty [35]

Answer:

7.80 times

Explanation:

First of all we have to calculate the average inventory

Opening inventory= 159,000

Closing inventory= 200,000

Average inventory= (opening inventory+closing inventory)/2

= ( 159,000+200,000)/2

= 359,000/2

= 179,500

The next step is to find the merchandise inventory turnover which is calculated as

= Cost of goods/ Average inventory

Cost of goods= $1,400,000

Average inventory= 179,500

= 1,400,000/179,500

= 7.799 times

= 7.80 times (to 2 decimal places)

Hence the merchandise inventory was turned over 7.80 times in 2019

7 0

3 years ago

Read 2 more answers

4. Part of delivering an effective slide presentation is making sure you present your material in a logical order. Before you be

grandymaker [24]

Answer: Arranging them in an orderly manner, easy to understand by the audience and when presented

Explanation:

When arranging your slide for presentation, it's necessary that they are arranged in a logical manner, one of the things to have in mind is your objectives, when this is understood, you begin the arrangement of your presentation with your with table of contents, introduction, abstract, would be followed by the chapters, your conclusion and references, all tailored in an orderly manner driving your point home to your audience.

5 0

3 years ago

Dan saves a portion of his income in an interest-earning account. in the loanable funds market, dan is:________

AlexFokin [52]

Answer:

Dan is the "supplier" of the funds

Explanation:

Given their willingness to lend their money, savers in this marketplace are on the supply side of the economy.

What is the loanable fund market?

The market that connects savers and borrowers is the loanable funds market.

Model of the market for loanable money

To make what occurs in the economy when borrowers and savers interact more understandable, the loanable funds market model is utilized. A modification to the market model for commodities and services is the market model for loanable funds. In this hypothetical scenario, the exchange of money takes the place of a good and the interest rate replaces the price. In essence, it describes how loans are made and borrowed money is exchanged between borrowers and lenders.

To know more about the loanable fund market visit:- brainly.com/question/15851247

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3 0

2 years ago