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katrin [286]
3 years ago
15

Provides​ house-sitting for people while they are away on vacation. Some of its customers pay immediately after the job is finis

hed. Some customers ask that the business send them a bill. As of the end of the​ year, Peaceful Home has collected $ 1,000 from​ cash-paying customers. Peaceful Home ​'s remaining customers owe the business $ 1,400 . How much service revenue would Peaceful Home have for the year under the a. cash​ basis? b. accrual​ basis?
Business
1 answer:
GalinKa [24]3 years ago
7 0

Answer:

a. $1,000 will be recognized as service revenue using the cash basis.

b.  $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.

Explanation:

Given that as of the end of the​ year, Peaceful Home has collected $ 1,000 from​ cash-paying customers while Peaceful Home ​'s remaining customers owe the business $ 1,400.

Revenue to be recognized using;

  • Cash basis

$1,000 will be recognized as service revenue using the cash basis.

  • Accrual basis

On accrual basis, revenue is recognized when the service has been provided irrespective of whether cash has been collected or not.

A total of $2,400 ($1000 plus $1400) will be recognized as service revenue using the accrual basis.

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In January, Dieker Company requisitions raw materials for production as follows: Job 1 $970, Job 2 $1,520, Job 3 $810, and gener
USPshnik [31]

Answer:

Dieker Company

<u>Job Cost Sheet of </u>

                        Job1                             Job2                                   Job3

Materials        $970                            $ 1520                                 $ 810

Factory Labor  $2390                      $ 1730                                  $1560

General Factory

Indirect material  $ 660                     $ 660                                 $ 660

<u>Indirect labor      $ 1920                     $ 1920                                $ 1920</u>

<u>Total                   $ 5940                      $5830                             $  4950</u>

Cost of Job 1

Materials          $ 970

Factory Labor $ 2390

G. Factory        <u>  $ 2580</u>

Total                 $ 5940

Cost of Job 2

Materials          $ 1520

Factory Labor $ 1730

G. Factory        <u>  $ 2580</u>

Total                 $ 5830

Cost of Job 3

Materials          $ 810

Factory Labor $ 1560

G. Factory        <u>  $ 2580</u>

Total                 $ 4950

7 0
3 years ago
The williams family just bought a new van. the cost of the van is $26,857.00. state sales tax is 6% on the cost of the van. in a
KonstantinChe [14]
<span>Solution:
 Total cost of van = market cost of van + 6% sales tax on market cost + document verification fees
 6% sales tax on market cost = market cost x 0.06 = 26857 x 0.06 = 1611.42 Total cost of van = 26857 + 1611.42 + 250 = 28,718.42
 20% of total cost of van = 5843.684
 Remaining amount = Total cost of van - initial financing = 22,974.74 dollars Hence 22,974.74 dollars is the total amount that Williams family is financing.</span>
8 0
3 years ago
Division X makes a part with the following characteristics:
rodikova [14]

Answer:

If Division X refuses to accept the $19 price internally and Division Y continues to buy from the outside supplier, the company as a whole will be:_________.

c. worse off by $28,600 each period.

Explanation:

The $28,600 loss the company incurs is from the lost contribution that Division Y's purchase of Division X's parts could have brought to the company if it buys parts inhouse.  This is calculated as follows:

Division X's variable cost per unit = $17

Division X's selling price to outside customers = $23

Division Y's offered buying price = $19

The contribution = $2 ($19 - $17)

7 0
3 years ago
Michael is the owner of a restaurant in downtown Buffalo and recently signed a long-term lease with the building's owner. Since
Schach [20]

Answer:

The answer is trade fixtures

Explanation:

Trade fixtures are a tenant's installments which become a part of the land during the leasing contract period but they are not belong to the landlord thereafter. The tenant reserves the right to remove the the installments at the end of the contract term.

8 0
3 years ago
Read 2 more answers
Which of the following is an example of a strategic action?
Pavlova-9 [17]

Answer:

Option D. Entry into the European market by Home Depot.

Explanation:

The reason is that the strategic actions are long term actions and are market based moves which bounds the organizational resources for implementation and are also very difficult to reverse.

So here use of coupons, fare increases and two for one offers are easily reversible, requires fewer organizations resources for implementation and short term decisions which means these are tactical actions.

Whereas the decision to enter european market by Home Depot is long term decision, bounds organization resources for implementation and is very difficult to implement or reverse the actions once taken, so it is strategical action of Home Depot.

8 0
2 years ago
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