Refer to the Numder of this question add with the second number hope this helps.
Answer:
A.
Debit Unearned Revenue $11,250
Credit Sales $11,250
Explanation:
B. It is an income for the company. Prepaid subscription is an expense for the company. Therefore, it is incorrect.
C. It is contradictory as the company already recorded the first quarter transaction. Therefore, Unearned revenue should be debit. So, it is also incorrect.
D. According to the revenue recognition, revenue is recognized when they are earned. Therefore, the company acquired the cash when the company received last year. So, it is incorrect.
E. Again, cash cannot be credit. Therefore, it is incorrect.
A is the correct answer. As, when the company received the payment, unearned revenue was credit. As the income is now recorded for the first quarter, $(45,000/4) = $11,250 of unearned revenue becomes earned. So, it is debit. Since it is a sale of a company, the sale becomes credit.
Answer:
a. franchisee
Explanation:
Franchisee -
A franchises referred to a small business , and is very common method of doing any business .
The owner of the business i.e. , franchises , is referred to as the franchisee .
The franchisee has the right to take decision of the business like , using trademark of the business , proprietary knowledge , sell the brand and associated brands .
They are responsible to pay the franchise fee.
Hence , from the given statement of the question,
The correct option is a. franchisee .
Answer:
Answer is a) debit, actual
Manufacturing Overhead account has a debit balance and applied manufacturing overhead is greater than the actual manufacturing overhead
Explanation:
Overheads are applied to product costs using budgeted overhead rates. Budgeted rates are used because the delays in obtaining actual overhead affects timeous product valuation for profit purposes
Over applied situation occurs when the applied overheads exceeds the actual manufacturing overhead.
<em>The Manufacturing Overhead Account will have the following entries:</em>
Transfer to work in Progress figure - credit (with applied overheads)
Bank - debit (actual overhead)
Balancing figure or shortfall - debit (over-applied)
