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dybincka [34]
2 years ago
10

During December, Mainzel Interior Design Corporation redecorated the reception areas of a local hotel. The project was completed

on December 31 with payment due in 30 days. Payment was received on January 21 of the following year. When should Mainzel recognize the related revenue using accrual accounting?
Business
1 answer:
AysviL [449]2 years ago
5 0

Answer:

On December 31, related revenue should be recognized

Explanation:

According to the accrual basis of accounting, the recording of the transactions is done when expenses are incurred, and services are rendered to the customers in return the revenues are earned.

It matches the revenues and expenses to a particular year based on weekly, monthly or yearly

In the given case, the projected was completed on December 31 but the payment was received on January 21. So, the revenue should be recognized when the project was completed i.e December 31.

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Internal processes of a company contribute to the company's overall effectiveness. Identifying ways to improve internal processe
Contact [7]

Answer:

Explanation:

Internal processes of a company contribute to how effective the company runs. Looking for areas and ways to improve the internal processes will aid in building an organization that is highly efficient. The major causes needs to be known.

Ways of identifying the root causes might not be possible until basic analysis is carried out or sometimes it might be visible depending on the major problem facing the organization internally.

Internal process of a company increase the effectiveness of such company, identifying how to improve these internal processes helps to build an organization that is highly efficient.

6 0
2 years ago
The Boeing Company buys $3 million worth of steel, $2.5 million worth of computer hardware and software, and $1 million worth of
astraxan [27]

Answer:

The value added by Boeing is equal to:A)$3.5

Explanation:

Value added is the difference between the price of product or service and the cost of producing it.

Steel           3,0M

Computer    2,5M

Tools            1,0M

  Value Add 3,5M

Boeing          10 M  

3 0
2 years ago
Which of the following statements is true? Question 8 options: Always shake hands in an interview as it is the polite thing to d
SVETLANKA909090 [29]
I think the answer would be A. It definitely would not be B or C and D seems kind of rude so I think that A. would be the most courteous and kind. Hope this is helpful for you! :)
7 0
3 years ago
Read 2 more answers
brainly Stuart Manufacturing Company was started on January 1, year 1, when it acquired $89,000 cash by issuing common stock. St
HACTEHA [7]

Answer:

Stuart Manufacturing Company

Assets = $107,200

Explanation:

a) Data and Calculations:

Cash Account

Common stock $89,000

Furniture            (32,000)

Equipment         (40,000)

Salaries               (12,000)

Wages                (21,000)

Raw materials   (26,000)

Sales                   72,000

Cash balance  $30,000

Inventory:

Cost = $26,000

Units produced = 10,000 units

Cost per unit = $2.60 ($26,000/10,000)

Cost of goods sold = 8,000 * $2.60 = $20,800

Ending inventory = 2,000 * $2.60 = $5,200

Sales Revenue = 8,000 * $9 = $72,000

Assets:

Cash                     $30,000

Ending inventory     5,200

Furniture               32,000

Equipment            40,000

Total                  $107,200

b) An asset is something that brings in future cash flows to the business entity.  It is made up of Cash and Cash Equivalents, Inventories, Property, Plant, Equipment, and other business investments.  Assets are funded from finance provided by creditors and the equity owners, and they generate economic values.

5 0
2 years ago
Three categories of activities (operating, investing, and financing) generate or use the cash flow in a company. In the followin
Marat540 [252]

Answer:

a. Yum Co. uses cash to repurchase 10% of its common stock. (Financing activity)

b. DigiInk Printing Co. buys new machinery to ramp up its production capacity. (Investing activity)

c. D and W Co. sells its last season’s inventory to a discount store. (Operating activity)

d. A company records a loss of $70,000 on the sale of its outdated inventory. (Operating activity)

Explanation:

Cash flow statement shows how cash is used and obtained in a business. There are different activities that influence cash flow. Below are the activities:

- Operating activities are those that include normal business operations like buying and selling of inventory, interest payments, and salaries.

- Investing activities involves use of cash for investment like purchase or sale of assets, merger and acquisitions payments, and purchase of equipment.

- Financing activities includes cash used to purchase or sell equity such as shares, payment of dividends, and repayment of principal from debt

3 0
2 years ago
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