Answer:
Dividends - <em>Statement of Changes in Retained Earning</em>
Dividends are payments to shareholders from a company's net income. They are derived from the Statement of Changes in Retained Earning because this is where Net Income is sent to. After they are deducted from Retained Earnings, the Earnings form part of Equity.
Differed Revenue - <em>Balance Sheet</em>
Differed Revenue refers to money that was received from a customer or client for goods and/or services that have not yet been delivered. The business will treat them as a liability until they are delivered so they will go under Current Liabilities in the Balance Sheet assuming they are to be fulfilled in 12 months or less which is usually the case.
Service Revenue - <em>Income Statement</em>
These are revenue that the business earns for providing a service when their main source of revenue is by selling goods. It is listed in the Income Statement just after Revenue and is added to Revenue to get Total Revenue.
Answer:
Contribution Margin for each corporate customer= $ 67.5
Explanation:
Intricate Computer Solutions
<u><em>Corporate Business Segment Individual Business Segment</em></u>
Revenue. $ 60, 000 $ 45,000
<u>Variable costs $ 33, 000 $ 25,100</u>
<u />
<u>Contribution Margin $ 27,000 $ 20,000 </u>
Less
<u>Fixed costs $ 7, 500 $ 7, 500 </u>
<u>Operating Income $19,500 $12,500</u>
Contribution Margin for each corporate customer= Contribution Margin/ No Of Customers =$ 27000/ 400= $ 67.5
The
necessary adjusting entry to record inventory shortage would be:
“Cost of
Merchandise Sold debit $5,000; Merchandise Inventory credit $5,000.”
Cost of Merchandise
Sold is the cost of goods and services that correspond to sales made to
customers. In this case, we need to decrease ending inventory by the quantity
of these goods ($5,000) that either were shipped to customers or assigned as
being customer-owned under a certain agreement. Meanwhile, the merchandise inventory is the cost of goods on hand and is available for sale ($5,000).
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