Answer:
B: $1,500 is recognized this year, $ 9,000 next year and $ 7,500 in last year of contract.
Explanation:
Steven has adopted the accrual method in recording its revenue.
Accrual is an accounting concept which means expenses and revenues are recorded by a business when they are incurred not when cash is received or paid.
Accrual basis of accounting gives more accurate and true results as compare to cash basis accounting.
The payment received in September of $ 18,000 was the income for 24 months so it was wrong to record the whole amount as an income in September.
In the first year 2 months of income is recorded for November and December ($ 18,000÷24 = $750 per month) $750 × 2 = $1500.
In the second year 12 months revenue will be recognized ($750 per month × 12 = $ 9,000)
In the last year 10 month remained out of 24 months so the income recognized was ( $750 × 10 = $ 7,500)
The right answer for the question that is being asked and shown above is that: "a cooperative a nonprofit organization." a semi-independent business that pays fees to a parent company in return for the exclusive right to sell a certain product or service in a given area called <span>a cooperative a nonprofit organization</span>
Answer:
A. Ad extensions
Explanation:
Automatic bidding is a bid technique by Google Ads to optimize outcomes based on your campaign objectives. Google automatically determines bidding amounts based on the probability that a click or conversion would result on your ad.
Answer:
Net income = $688
Explanation:
If Nu elects FIFO, we have:
Cost of good sold = Cost of goods available for sale - Ending inventories = 2,490 - 1,260 = $1,230
Gross profit = Net sales - Cost of good sold = 2,870 - 1,230 = $1,640
Net operating income = Gross profit - Operating expenses = 1,640 - 780 = $860
Tax = $860 × 20% = $172
Net income = $860 - $172 = $688
Treat the kids as if they were their own and treat them equally with the other as well as help out the spouse with bills and other things