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Nady [450]
3 years ago
11

On October 10, Jayson Company receives an order for a $700 TV which it will deliver to the customer on October 17. The customer

pays the full amount in cash at the time of the order. Besides recording the receipt of $700 cash, what else should Jayson record on October 10?
a. Record $700 revenueb. Record some of the $700 as revenue now and the rest on delivery of the TV
c. Record a $700 liability d. Make no record at this time; record revenue and receipt of cash on delivery of TV
Business
2 answers:
MArishka [77]3 years ago
4 0

Answer:

C.

Explanation:

It is the company's liability until the customer takes posession.

GalinKa [24]3 years ago
4 0

Answer:

Option "C" is the correct answer to the following statement

Explanation:

In the following situation, Jayson Company should record a liability of $700 until the customer gets his or her TV.

the customer gives order and full payment to Jayson Company of $700 on October 10 and receive his or her order on October 17.

So, $700 is a liability for Jayson Company and assets for the customer.

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What is one drawback of pure competition compared to monopolies?
frutty [35]

Answer:

D. Pure competition spreads resources between many different

firms.

Explanation:

Pure competition is a market structure with many suppliers and many buyers. All the suppliers sell a homogeneous product. There is intense business competition among the suppliers. Other characteristics of pure competition include

  • There are no dominant suppliers.
  • There is ease of entry and exit into the market
  • Suppliers/firms are price takers.

In pure competition, resources are shared among the many competing firms in the industry, unlike in a monopoly that has only a single supplier. Resources include raw materials and profits.

8 0
3 years ago
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Bledsoe Company received $15,000 cash from the issue of stock on January 1, 2013. During 2013 Bledsoe earned $8,500 of revenue o
kati45 [8]

Answer:

Total assets is increased by $18,100

Explanation:

The computation is shown below:

= Cash received from the issue of stock + revenue earned on account - cash paid for operating expenses

= $15,000 + $8,500 - $5,400

= $18,400

This positive amount shows that there is an increase in the total assets for $18,100

The cash collected from the account receivable is not relevant. Hence ignored it

5 0
2 years ago
Sharon had some insider information about a corporate takeover. she unintentionally informed a friend, who immediately bought th
yawa3891 [41]

This is an example of insider trading, which is using private company data or information to make improper gains.

7 0
3 years ago
Typical cash flows from investing activities include each of the following except: Group of answer choices Proceeds from collect
Alinara [238K]

Answer:

Proceeds from collecting the principal amount of accounts receivable arising from customer sales.

Explanation:

Cash flow can be defined as the net amount of cash and cash- equivalents that is flowing into (received) and out (given) of a business. There are three components of the cash flow;

1. Operating cash flow: all cash generated from the business activities of an organization.

2. Financing cash flow: all payments made by an organization and profits from issuance of debts and equity.

3. Investing cash flow: costs associated with purchasing of capital assets and investments of cash resources in other businesses.

This ultimately implies that, cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.

Generally, investing activities comprises of purchasing physical assets, investing in securities and the sale of assets or securities associated with the company.

Hence, typical cash flows from investing activities include each of the following;

I. Payments to purchase property, plant and equipment or other productive assets (excluding inventory).

II. Payments to acquire held-to maturity securities of other entities, except cash equivalents.

III. Proceeds from the sale of equipment.

IV. Payments to buy intangible assets.

4 0
2 years ago
Social security and medicare are progressive taxes. payroll taxes. local taxes. corporate taxes.
kipiarov [429]

Answer:pay roll

Explanation:

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3 years ago
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