What is one thing you can do to help remember a new business contact? Write______________

The question of when revenue should be recognized on the income statement according to GAAP is addressed by the:

sleet_krkn [62]

Answer:

a. Revenue recognition principle

Explanation:

The revenue recognition principle refers to the principle in which the revenues are recorded when it is realized or earned. It follows the accrual basis of accounting

It is not recorded when the cash is actually received.

When the sale is made, the same is to be shown in the books of accounts

Therefore as per the GAAP, the revenue should be addressed by revenue recognition

hence, the correct option is a.

4 0

3 years ago

Sam, age 35, and kathy, age 33, are married and have a son, age 1. sam is employed as an accountant and earns $60,000 annually.

shusha [124]

Sam, age 35, and Kathy, age 33, are married and have a son, age; The Financial stands resolve will be

To the extent that Sam's wife qualifies for OASDI payments in the event of his death due to an automobile accident, she will receive them.

Kathy's vocal cord is a significant contributor to her income since she is a teacher, but she can only get disability benefits if she has been selected for them.

Kathy will be eligible for temporary disability benefits under the United States' social insurance program since she was injured on the job and has opted into the program.

Sam's benefits will be reduced by $1 for every $2 he earns over the $17040 level in 2018; however, he will not see a decrease in his benefits if his income is between $45,306 and the maximum allowable amount of $45,306.

Sam's desire for a greater salary is not a qualifying cause for unemployment insurance.

<h3>Who is a financial planner?</h3>

Generally, a financial planner is simply defined as one form of a financial adviser, the financial planner, focuses on helping clients develop and implement strategies for achieving their long-term financial objectives.

In conclusion, Finance is managing substantial resources, as practiced by governments or major corporations.

Read more about finances

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6 0

2 years ago

How do u know charmed life caitlin's lucky charm is fiction?

Diano4ka-milaya [45]

I don't know that book, but you know something is fiction when it's something that simply can not happen in real life, also if it's based on a character, like Sammy took a bath when he finished playing soccer, unlike dolphins are mammals, which is nonfiction. Hope this helps! Please rate brainiest answer!

7 0

3 years ago

Forrester Company is considering buying new equipment that would increase monthly fixed costs from $276,000 to $544,500 and woul

REY [17]

Answer:

The correct answer is E.

Explanation:

Giving the following information:

Forrester Company is considering buying new equipment that would increase monthly fixed costs from $276,000 to $544,500 and would decrease the current variable costs of $60 by $15 per unit. The selling price of $100 is not expected to change.

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 544,500/ [(100-45)/100]

Break-even point (dollars)= $990,000

6 0

3 years ago

Read 2 more answers

Use the starting balance sheet and the list of changes to create an updated balance sheet and to answer the question.

anastassius [24]

Answer: $3,300,000

Explanation:

Accounting formula:

Assets = Equity + Liabilities

Total equity and liabilities on March 31 is:

= Beginning balance - decrease in liabilities + Increase in Equity

= 5,000,000 - 100,000 + 400,000

= $5,300,000

Assets therefore has to be $5,300,000 on the same date.

Assets = New cash balance + Other assets

5,300,000 = (2,200,000 - 200,000) + Other assets

Other assets = 5,300,000 - 2,000,000

= $3,300,000

4 0

3 years ago

What is one thing you can do to help remember a new business contact? Write_______________