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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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When a home is hit with a assessment to pay for an improvement in the neighborhood such as sidewalk repair, or paving a road, or
enyata [817]

Answer:

Brokers must disclose the information regarding the improvement and the fact that the property's taxes will increase the next year. Neighborhood improvements are paid by  Special Assessment Districts adding taxes to existing properties or increasing sales taxes. Buyers need to know what property taxes they are expected to pay, and in this case, the current property taxes must be adjusted to show the real amount that will  be paid in the future.

This isn't something necessarily bad because you are going to pay higher taxes, but your neighborhood is also improving.

8 0
3 years ago
Sillytime Park competes with Splash World by providing a variety of rides. Sillytime sells tickets at $ 60 per person as aâ one-
horsena [70]

Answer:

BEP 378,000

Explanation:

\frac{Fixed\:Cost}{Contribution \:Margin \:Ratio} = Break\: Even\: Point_{dollars}

\frac{Contribution \: Margin}{Sales \: Revenue} = Contribution \: Margin \: Ratio

Sales \: Revenue - Variable \: Cost = Contribution \: Margin

60 - 24 = 36 contribution margin

every units contribution $36 dollars

36 / 60 = 0.6 CM ratio

each dollar of sale generate 60 cents of contribution

226,800 fixed cost / 0.6 CMR = 378,000 BEP  in dollars

3 0
3 years ago
In the long run equilibrium, a monopolistic competitor will produce to the point at which A) actual average total costs are at t
Artemon [7]

Monopolistic competition is the economic market model with many sellers selling similar, but not identical, products. The demand curve of monopolistic competition is elastic because although the firms are selling differentiated products, many are still close substitutes, so if one firm raises its price too high, many of its customers will switch to products made by other firms. This elasticity of demand makes it similar to pure competition where elasticity is perfect. Demand is not perfectly elastic because a monopolistic competitor has fewer rivals then would be the case for perfect competition, and because the products are differentiated to some degree, so they are not perfect substitutes.

Monopolistic competition has a downward sloping demand curve. Thus, just as for a pure monopoly, its marginal revenue will always be less than the market price, because it can only increase demand by lowering prices, but by doing so, it must lower the prices of all units of its product. Hence, monopolistically competitive firms maximize profits or minimize losses by producing that quantity where marginal revenue equals marginal cost, both over the short run and the long run.

3 0
3 years ago
Please help!! URGENT! Question & answers in photo
FinnZ [79.3K]

Answer:

its black? or is it just mine

Explanation:

8 0
2 years ago
Read 2 more answers
You have 40 years left until retirement and want to retire with $5 million. Your salary is paid annually, and you will receive $
Marat540 [252]

Answer:

16.67%

Explanation:

Calculation to determine what percentage of your salary must you save each year

First step is to calculate the Annual savings

Annual savings=$5 million*[(10%-3%)/(1+0.1)^40-(1+0.03)^40]

Annual savings=$5 million*0.07/(1.1^40-1.03^40)

Annual savings=$8333.88

Now let determine the percentage of the salary you must save each year

Proportion of savings=$8333.88/$50,000

Proportion of savings=0.1667*100

Proportion of savings=16.67%

Therefore the percentage of your salary that you must save each year is 16.67%

5 0
3 years ago
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