Answer: The correct answer is B. debit Fees Revenue and credit Unearned Fees Revenue, $3,000
Explanation: As at 1 April 2016, the $12,00 Johnson Bookkeeping received should have been a debit to cash and credit to unearned fees revenue. Since that was a misposting and considering the fact that 9 months had already passed, the firm has to prorate the fees that has been earned by 9/12*$12,000=$9,000 (this stays in fees revenues at (31 December 2016). Remember the fees received is for a 12-month period (1 April 2016 to 31 March 2017). So, we have to report $3,000 ($12,000 minus $9,000) as unearned fees as at 31 December 2016.
However, Johnson Bookeeping would experience a spike in revenue in April 2016 management reporting due to the misposting and subsequently there would a decline, all other things held constant, in revenue. On a normal day, if the posting was accurately done to unearned fees revenue, the firm would amortize over 12 months to fees revenue, that is $1,000 every month.
My best estimate is 23% or lower.
Answer:
For the first year, Griffith will record a revenue of $522. So, option a is the correct answer.
Explanation:
The amount received on 1 April for 36 month subscription is the unearned subscription revenue that will be earned evenly throughout the coming 36 months period starting from April.
The month subscription revenue is,
Monthly subscription revenue = 2088 / 36 = $58 per month
The calendar year ends on 31 December. Following the accrual principle, we will record the revenue as subscription revenue for the period of 9 months from April to December for the year.
The amount of revenue that is to be recorded for the first year is,
Revenue = 58 * 9 = $522
In a perfectly competitive market, the marginal revenue will be equal to the price. In a perfectly competitive market, there will be a large number of buyers and sellers selling their goods at the same rate. The goods will be homogenous and there will be no difference in the goods sold. In such a case the marginal revenue will be equal to the price of the goods.
Let us assume a perfectly competitive market. A seller will be able to sell whatever quantity he wants at that rate. If the price of the goods is increased he will not have customers. There is no use in reducing the price as the customers are willing to buy the goods at a higher rate. The market is also able to buy all the goods sold by the seller so their marginal revenue will not decrease.
In a perfectly competitive market, the marginal revenue line is a horizontal line. this line will be equal to the price of the goods in the market.
1. Learn more about the perfectly competitive firm from:
brainly.com/question/14939269
2. Learn more about marginal revenue here:
brainly.com/question/12342976
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Your answer is...............d. If you were starting college all over again, what courses would you take?