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maks197457 [2]
3 years ago
7

According to generally accepted accounting principles (GAAP), revenue is recognized as income when:

Business
1 answer:
bogdanovich [222]3 years ago
4 0

Answer:

the transaction is complete and the goods or services are delivered.

Explanation:

According to generally accepted accounting principles (GAAP), the revenue should be recognized when the goods or services are delivered and the transaction is completed in all respects.  

The revenue recognition principle applies when the revenue is realized or earned whether cash is received or not plus it also follows the accrual basis of accounting. Here, realizable means that customer received the product but the payment is made at the later date

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Stone Co. begins operations in 20X9 and reports $225,000 in income before income tax for the year. Stone's 20X9 tax depreciation
Crazy boy [7]

Answer:

The answer is: Stone can report $8,750 as deferred income tax liability

Explanation:

Deferred income tax liability: income tax owed by a business that is put off into future years because a difference exists between GAAP accounting (in this case book depreciation) and income tax accounting.

The deferred tax liability is based on the difference on depreciation. Since 20x9 is Stone Co.'s first year of operations, the depreciation difference in this year must equal the net future depreciation difference.

To calculate the deferred tax liability balance we take the difference in depreciation and multiply it by the future tax rate: $25,000 x 35% = $8,750.

8 0
3 years ago
Horatio can produce either a combination of 15 bird houses and 25 wind chimes or a combination of 30 bird houses and 15 wind chi
romanna [79]

Answer:

So 10 wind crimes has an opportunity cost 15 bird houses

or 1.5 per unit.

Explanation:

The opportunity cost is the cost of the goods it could been produced instead of the current output.

For the 10 wind chimes it will be the decreases in the birdhours production.

When Horatio moves to 25 from 15 wind chimes his bird house production fall to 15 from 30 Therefore, it decreases by 15

So 10 wind crimes has an opportunity cost 15 bird houses

we can do this metric by unit:

15/10 = 1.5 each additional wind chimes cost 1.5 bird house.

4 0
3 years ago
A client is losing motivation to exercise, so his trainer recommends spending 15 min before his next session thinking about the
11111nata11111 [884]

Answer:

The answer for the question is Imagery

Explanation:

The trainer wants him to get motivated for next session as much as the previous session that he is already motivated to train. Therefore, trainer wants him to remember how he felt in previous session. To made him remember, trainer uses his feeling by make him imagine that he is taking the previous session again.

8 0
3 years ago
Which finance option requires the most debt obligation to the person taking it? loan
Semmy [17]
I think the answer is a loan
8 0
3 years ago
Drag each event to the correct location on the chart.
saul85 [17]

Answer

Increase- a popular new diet prescribes

only olive oil for weight loss

Increase- a report in news stating that

consumption of olive oil

improves health

Decrease- a decrease in the price

of other vegetable oil

Decrease- research shows that olive oil

consumption leads to hair loss

Explanation:

4 0
3 years ago
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