1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
DochEvi [55]
3 years ago
13

On November 1, 2021, Taylor signed a one-year contract to provide handyman services on an as-needed basis to King Associates, wi

th the contract to start immediately. King agreed to pay Taylor $4,440 for the one-year period. Taylor is confident that King will pay that amount, but payment is not scheduled to occur until 2022. Taylor should recognize revenue in 2021 in the amount of Multiple Choice $4,440. $740. $2,220. $0.
Business
1 answer:
Vesna [10]3 years ago
3 0

Answer:

The correct answer is $740

Explanation:

The amount which will be recognized by Taylor as revenue in the year 2021 is computed as:

Amount = Agreed amount to pay × Number of months/ Total months

where

Agreed amount to pay is $4,440

Number of months is 2 months (that is November and December)

Total months in a year is 12

Putting the values above:

Amount = $4,440 × 2/12

Amount = $740

This arrangement qualifies for the recognition of revenue over the time as the customer consumes the advantage of the seller service as the seller offers. Therefore, Taylor would be acknowledge the revenue of $740 .

You might be interested in
In the context of robert merton's strain theory of deviance, _____ is a mode of adaptation in which people do not expect to be r
NeTakaya

Answer:

Ritualism

Explanation:

In this passage the term being mentioned is called Ritualism. This is a concept of Merton's Strain theory of deviance, that refers to the daily rituals that individuals experience every day throughout their lives even though they may not accept the values that are part of those daily tasks. This can be seen in students, as they go to school daily, not to get rich, but to be able to obtain and keep a job in order to survive.

7 0
3 years ago
How would the Supply of cars change, given an increase in the price of steel.
lana [24]

Answer:

car production would decrease or slow down rapidly due to most car parts being made of steel, such as steering and suspension parts

5 0
2 years ago
12. Charlotte was not hungry that morning, so she just had a smidgen of cake at the office birthday party.
OLEGan [10]
The answer is C because smidgen means a small amount, and if she was not hungry then she would have only had a little bit.
6 0
3 years ago
Ckson's Programming paid its June of $500 cash. demonstrate how to use the accounting equation to record the transaction by comp
Dvinal [7]

Answer:

Decrease <u>Cash </u>and Increase <u>Expense</u>

Explanation:

Jackson Programming paid $500 as rent for the month of June.

The accounting equation is is the basis of the double entry accounting principle system. It is an equation that stipulates that the balance sheet must remain balanced meaning every entry on the debit should be followed with a corresponding credit. It also means for every decrease there should be a corresponding increase.

In Jackson Programming;

A decrease is recorded in CASH because cash was paid, while an increase is recorded in EXPENSE because there is a corresponding increase in rent expenses.

5 0
3 years ago
The Valentine Company has decided to buy a machine costing $14,750. Estimated cash savings from using the new machine amount to
Illusion [34]

Answer:

16%.

Explanation:

The cost of machine is $14,750 and it can save up to $4,500 per year.

= $14,750 / $4,500 = 3.278

Suppose the company has a constant cash flow of $4500 for 5 years

16% is the write answer because at 16% net present value is zero.

4 0
3 years ago
Other questions:
  • ( WILL GIVE BRAINLIEST!!!) Type the correct answer in the box. Spell all words correctly.
    6·1 answer
  • According to the Federal Housing Finance Board, the mean price of a single-family home two years ago was $299,500. A real estate
    8·1 answer
  • Which statement is the converse of the given statment
    7·1 answer
  • Chiquita produces bananas for an average explicit cost of $0.25 per banana and sells 1 million bananas per week for a price of $
    12·1 answer
  • Quizlet:Suppose the demand for a Czech novel translated into English is perfectly inelastic. Assume the initial price of the tra
    12·1 answer
  • After you are done taking notes from a speaker, you should _____.
    15·1 answer
  • Vaughn Manufacturing purchased equipment for $39200. Sales tax on the purchase was $2352. Other costs incurred were freight char
    6·1 answer
  • anta Corporation issued a bond on January 1 of this year with a face value of $1,000. The bond's coupon rate is 6 percent and in
    15·1 answer
  • If Japan has a comparative advantage in the production of microchips,how would that affect their international trade?
    11·2 answers
  • Managing diversity is ________________________________. the use of dramatization and role playing to identify and remedy problem
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!