Answer: Debit Unearned Fees, $8,145; Credit Fees Earned, $8,145.
Explanation:
The $32,580 are for 36 months so the amount per month would need to be calculated.
= 32,580/36
= $905
The subscriptions were paid on the 1st of April which means that only 9 months (April to December) of the first year will have revenue recognized for them.
= 905 * 9
= $8,145
Correct entry would be to debit the Unearned fees account as it is a liability that needs to reduce to reflect that fees have now been recognized.
Credit the Fees Earned account to recognize revenue.
Debit Unearned Fees, $8,145; Credit Fees Earned, $8,145.
Answer:
Purchases= $1,091,000
Explanation:
Giving the following information:
Beginning Raw materials inventory = $549,000
Ending Raw materials inventory= $612,000
The raw materials used in production= $1,028,000.
<u>To calculate the raw material purchased, we need to use the following formula:</u>
Purchases= production + ending inventory - beginning inventory
Purchases= 1,028,000 + 612,000 - 549,000
Purchases= $1,091,000
Answer:
When we get too hot, sweat glands in the skin release more sweat. The sweat evaporates, transferring heat energy from the skin to the environment.
Tier 1 enterprise resources planning ...................................... due to OPPORTUNITIES FOR CORPORATE-WIDE STANDARDIZATION.
A tier 1 enterprise resource enterprise refers to companies that are direct suppliers for an original equipment manufacturer. Companies prefer dealing with such companies due to the opportunities attached.
Dividends paid to common stockholders cannot be deducted from the payer's taxable income for tax purposes.
<h3>What is Dividend Payments?</h3>
Dividends are paid only on outstanding shares of common stock. Since the payments are the distribution of a company's profits to its shareholders, dividend payments decrease both the cash and the shareholders' equity balance shown on the issuing corporation's balance sheet.
Since they are paid on each share, the amount of cash distributed to each shareholder is based on the amount of shares they own.
<h3>Are dividends paid to common stockholders?</h3>
Dividends are paid only on outstanding shares of common stock.
A common stock dividend is the dividend paid to common stock owners from the profits of the company. Like other dividends, the payout is in the form of either cash or stock. The law may regulate the size of the common stock dividend particularly when the payout is a cash distribution tantamount to a liquidation.
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