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dybincka [34]
3 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]3 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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What is the difference between a positive economic statement and a normative statement?
yaroslaw [1]

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e. A positive economic statement can be proved; a normative statement cannot.

Explanation:

A positive economic statement are objective statement that can be tested, amended or rejected by referring to available evidence.

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3 years ago
Phil's Dinor purchased some new equipment two years ago for $32,600. Today, it is selling this equipment for $22,000. What is th
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(C) $19,776.80

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3 0
3 years ago
What are the 4 targeting strategies a company can use to select a target market? Explain each one.
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Hope this helps!
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3 years ago
Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of
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Answer:

<em>As mothers with a school going children, they are packing a meal which is healthy as well as simple.</em>

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As the box color is bright yellow and the food which is inside the box is in a less quantity. <em>The target market for Kraft Lunchables is been considered very very likely </em><u>as mothers with a school going children, they are packing a meal which is healthy as well as simple</u>.  

<em>Because, as we can see in the question, the foods which are mentioned  there are very simple, hygienic and healthy, like a mom is packing a lunch-box for her school going child. </em>

<em>And we can also see the color of that box, the color also indicate the lunch-box that moms give to their child while the child is going to a school.</em>

3 0
3 years ago
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