1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
erma4kov [3.2K]
2 years ago
14

Athens Delivery Service is hired on October 31, 2018 to perform services, beginning on November 1, 2018. The delivery services w

ill be performed for six months at a rate of $3300 per month. Athens' fiscal year ends on December 31. What amount of service revenue should be recorded as an adjusting entry on December 31, 2018?
Business
1 answer:
solmaris [256]2 years ago
7 0
  1. Answer: $6600  Explanation: Athens' entered into a contract to deliver services from November 1. This contract is valid for 6 months. Their fiscal year ends on December 31. This means that only 2 months worth of services will be delivered in 2018. Even if Athens received cash for the full 6 months they can only record the revenue when they have fulfilled the obligations and rendered the service.  Because only 2 months were rendered in 2018, they can only record $6600 ($3300 × 2 months) in the 2018 fiscal year. The outstanding 4 months' balance will remain in income received in advance account until these 4 months' services are actually rendered and the obligation is fulfilled by Athens.
You might be interested in
XYZ Corp owns a 3-year $10 million par floating rate bond. The coupons on the bond are 12-month LIBOR. XYZ would like to hedge a
malfutka [58]

Answer:

 2.45%

Explanation:

The computation of the fixed rate is shown below:

Years to maturity   Zero coupon  bond price  YTM      Forward rate

1                                 0.99                     1.01%  

2                                      0.97                             1.53%       2.06%

3                                      0.93                            2.45%     4.30%

The fixed rate should be equivalent to the YTM of the 3 year bond i.e. 2.45% the same is to be considered

3 0
3 years ago
Vulcan Materials stock price soared in the days following the election of President Trump. Vulcan's products, such as asphalt an
aev [14]

Answer:

<h2>Spending on infrastructure projects is an example of <u>Discretionary Fiscal Policy</u> aimed at increasing real GDP and employment.</h2>

Explanation:

  • A discretionary fiscal policy basically refers to the manipulation or adjustment of various fiscal instruments by the government such as public taxes and government spending.
  • The aim of discretionary fiscal policy is to adjust the overall macroeconomic condition in any country based on the existing or current situation or scenario.
  • Now,infrastructural spending is part of fiscal policy or instrument to adjust the macroeconomic condition of the country as reflected by necessary modification in the GDP and employment level.Hence, higher infrastructural spending by the government would expectedly increase the residential and commercial construction projects in the country thereby,enhancing the GDP and the employment level in the country and boost the overall economy.
8 0
3 years ago
On Jan. 2, Callie Company received a $700 payment from a customer previously billed for services performed. The journal entry to
Lerok [7]

Answer:

Cash and equivalents $700 Debit*

Accounts Receivables $700 Credit*

Explanation: The cash represents a debit because we are receiving the cash from a sale already made and the credit is made accounts receivable, because the product was previously sold only that a payment term was given to the person who is currently fulfilling, then the account receivable becomes cash as part of the company's operating cycle.

7 0
3 years ago
your organization entered into an interoperability agreement (ia) with another organization a year ago. as a part of this agreem
Nadusha1986 [10]

The term "Interoperability Agreement" refers to a contract between MDTA and one or more other toll account providers that outlines the protocols and arrangements

under which the parties agree to pay each other for all toll transactions that comply with the agreement's requirements for transmission, debiting, and payment and that must be included in the current payment cycle. Both the IAG and regional interoperability agreements are part of these accords.The Metropolitan Clearing Corporation of India Ltd. (MCCIL), Metropolitan Stock Exchange of India Limited (MSE), NSE Clearing Limited (NCL), National Stock Exchange of India Limited (NSE), Indian Clearing Corporation Limited (ICCL),

learn more about interoperability agreements  here:

brainly.com/question/20738512

#SPJ4

8 0
1 year ago
Barbara is a producer in a monopoly industry. Her demand curve, total revenue curve, marginal revenue curve and total cost curve
andrey2020 [161]

Answer:

22

Explanation:

A monopoly will maximize profit at MR = MC ( marginal revenue = marginal cost)72

MR =MC

40 -0.5 Q = 4

-0.5 Q = 4 - 40 = -36

Q = -36 / -0.5 = 72

The price of the her product

Q = 160 - 4P

4P =  160 - 72 = 88

P = 88 / 4 = 22

4 0
3 years ago
Other questions:
  • Creative task performance involves employee responses to task demands that are novel, unusual, or, at the very least, unpredicta
    7·1 answer
  • Computer chips are a normal good. suppose the economy slips into a recession so that income falls. as a​ result, the demand for
    9·1 answer
  • Define the term partnership as a type of business
    11·1 answer
  • All else​ equal, if job turnover has people leaving jobs and finding new jobs in the same​ industry, this will: A. increase the
    11·1 answer
  • Blossom Corp. incurred $710000 of research and development costs to develop a product for which a patent was granted on January
    6·1 answer
  • Which of the following are true?
    15·1 answer
  • Your client submits an application to rent a condo unit. He has excellent credit and has had the same job for a long time. He us
    15·1 answer
  • Marigold Inc. has decided to raise additional capital by issuing $184,000 face value of bonds with a coupon rate of 9%. In discu
    13·1 answer
  • Gloria works as a freelance software developer with Ticki-Tacker Limited, a social media firm based in the city of London. She h
    9·1 answer
  • if there is an increase in the demand for a good, what will happen to the equilibrium price and quantity of the good exchanged?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!