Answer:
a. July 31
Explanation:
According to the revenue recognition principle, the revenue is recorded when the revenue is realized or earned not when the cash is received. There is no effect on cash receipt in this principle
Whether cash is received or not, the revenue is recognized when the service is provided to a customer
According to the given scenario, the service is performed so it is on July 31
Answer:
Option D; WATER HAS A LARGE HEAT CAPACITY.
Explanation:
Heat capacity is the amount of energy required to raise the temperature of a substance by 1°C. This activity demonstrates that water has a higher heat capacity than water.
A large body of water has a higher heat capacity than land, meaning it takes more energy to warm and cool the temperature of water.
Everyday, the land heats much faster than the sea and every night the land cools faster. When the land heats up, the air above it heats up as well. On the other hand, the ocean heats up and cools down relatively slowly. Therefore, areas near the ocean generally stay cooler during the day and have a more moderate temperature range than inland areas.
The characteristic of water that accounts for the fact that coastal regions do not experience such large temperature variations as landlocked areas is that WATER HAS A LARGE HEAT CAPACITY.
Annual depreciation is
Cost of equipment÷useful life
1.2m÷4 years=0.3m
The average contribution to net income across all four years is
0.5m−0.3m=0.2m
The answer is 0.2m
