Answer:
See explanation section
Explanation:
(a) December 1 Cash Debit $18,000
Unearned revenue Credit $18,000
<em>Note: The company received the money in advance for a contract to do during December to April. Therefore, they received cash while a liability increased due to receiving advance money.</em>
(b) December 31 Unearned revenue Debit $3,600
Service revenue Credit $3,600
<em>Note: As the company started performing, after the completion of 1st month, i.e., December 1 to December 31, the advance money started expiring because of providing services. Moreover, as the service is performed evenly for 5 months, the 1st month's revenue = $(18,000/5) = $3,600.</em>
Answer:
Who want to rent a boat? 8 person
Explanation:
Carry 1500 pounds
Carry 200 pouns
Average 150 pound /person
Additional10 pounds/person
1500-200=150x
+10x
1300=160x
x=1300÷160
x=8,12
8 person Aditional Gear
150 10
8 8
1200 80 200 1480
Answer:
C. the period of time in which at least one factor of production is fixed.
Explanation:
- The short-run is a condition, were some controls and market are not in fair equilibrium, some factors like the variables and other that are foxed have limited entry or exit to the industry.
- In the macroeconomics a long run is a time when the general price, and contractual wage rates, along with the expectations are adjusted entirely to the states of the economy. and this contrast to the short-run where the variable is not fully fixed or adjusted.
- <u>The short-run for a firm will increase the production of the marginal costs is less than the marginal revenue. The transition from the short to the long-run market equilibrium may be done on considering the supply and demands.</u>
Answer:
When Manufacturing of a Product involves several processes.
Explanation:
When several processes are involved in manufacturing a product, costs need to be accumulated in these processing departments. Thus, A process cost accounting system is most appropriate