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rodikova [14]
4 years ago
12

Question 4 (5 points)

Business
2 answers:
Georgia [21]4 years ago
8 0
500,000 to 1 million
melamori03 [73]4 years ago
4 0

Answer:

$500,000 to $1 million

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Steven operates a landscaping service on the accrual method. In September of this year Steven received a payment of $18,000 for
aleksandr82 [10.1K]

Answer:

B: $1,500 is recognized this year, $ 9,000 next year and $ 7,500 in last year of contract.

Explanation:

Steven has adopted the accrual method in recording its revenue.

Accrual is an accounting concept which means expenses and revenues are recorded by a business when they are incurred not when cash is received or paid.

Accrual basis of accounting gives more accurate and true results as compare to cash basis accounting.

The payment received in September of $ 18,000 was the income for 24 months so it was wrong to record the whole amount as an income in September.

In the first year 2 months of income is recorded for November and December ($ 18,000÷24 = $750 per month) $750 × 2 = $1500.

In the second year 12 months revenue will be recognized ($750 per month × 12 = $ 9,000)

In the last year 10 month remained out of 24 months so the income recognized was ( $750 × 10 = $ 7,500)

3 0
4 years ago
Will the government extend student loan forbearance.
viva [34]
No Decision have been made
5 0
3 years ago
What are the benefits if you pay off all your high-interest debt such as credit cards and store cards?
disa [49]

You can save more money.

8 0
4 years ago
Which individual would deserve credit for the success of american imperialist policies?
Leviafan [203]

Answer:

American imperialism

Explanation:

is a term that refers to the economic,military and cultural influence of the United States on other countries.

8 0
3 years ago
Road Master Shocks has 15,000 units of a defective product on hand that cost $80,000 to manufacture. The company can either sell
VikaD [51]

Answer:

If the units are reworked, net income will increase by $5,000.

Explanation:

Giving the following information:

Number of units= 15,000

Sell as-is:

Selling price= $6 per unit

Rework:

Selling price= $9

Total cost= $40,000

The original production costs ($80,00) should not be taken into account because they remain constant for the two options.

<u>Now, we will determine the effect on the income of both choices:</u>

Sell as-is:

Effect on income= 6*15,000= $90,000 increase

Re-work:

Revenue= 15,000*9= 135,000

Total cost= (40,000)

Effect on income0 $95,000 increase

If the units are reworked, net income will increase by $5,000.

3 0
3 years ago
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