Answer: the correct answer is $210,000. The months is which the service was given were June, July, August, September, October, Nevember, December. The total service is $360,000 which means it is $30,000 monthly. (360,000 divided by 12). $30,000 times 7 months is $210,000.
Explanation: If a company is using the accrual basis accounting method it has to record its earned revenue when services are rendered, even though cash may be received at a later date..
Answer:
hi
Explanation:
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Explanation:
Answer:
$85 per share and $35 per share
Explanation:
According to the scenario, computation of the given data are as follow:-
We can calculate the par of shares by using following formula:-
Corporation’s Preferred Stock‘s Par Value is
= Preferred Equity ÷ No. of Preferred Outstanding Shares
= $85,000 ÷ 1,000
= $85 per share
Corporation’s Common Stock‘s Par Value is
= Common Equity ÷ No. of Common Outstanding Shares
= $140,000 ÷ 4,000
= $35 per share
Answer:
Cash Anders received from the sales of equipment was $37,000
Explanation:
The equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000
In Anders Company
The carrying amount of the equipment = book value of equipment = $40,000
The equipment was sold at a loss of $3,000. Therefore:
The carrying amount of the equipment - Sales price (Cash Anders received from the sales) = $3,000
Cash Anders received from the sales = The carrying amount of the equipment - $3,000 = $40,000 - $3,000 = $37,000
