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
lawyer [7]
3 years ago
8

Rhonda Company enters into a contract with Petersburg, Inc. on March 5. According to the contract, Rhonda is scheduled to delive

r 100 units of Product 1 at a sales price of $60 per unit and 150 units of Product 2 to Petersburg, Inc. by June 30 at a sales price of $75 per unit. Rhonda agrees to deliver both Products 1 and 2 before being entitled to any payments. The following deliveries are made by Rhonda to Petersburg: On March 25, Rhonda delivers 100 units of Product 1.On June 20, Rhonda delivers 150 units of Product 2. What amount(s) relating to this contract should Rhonda report on its March 31 balance sheet?
Business
2 answers:
rusak2 [61]3 years ago
8 0

Answer:

Rhonda should report Account Receivable of $6,000 in its balance sheet at 31st March.

Explanation:

According to commonly-applied accounting principles/standards; income should be recorded when they are earned ( in this case, when the product is delivered), rather than the cash payment is received.

By March 31st, Rhonda had already delivered all 100 units of Product 1 as agreed in the contract. As a result, they are eligible to record a revenue ( credit side) of $6,000 ( 100 units x $60 each).

As the cash receipt of $6,000 is not received, the Account Receivable should be recorded up by $6,000 to reflect the amount due from customers regarding the contract.

Revenue will be reported in income statement while Account Receivable will be reported in Balance Sheet. Thus, Rhonda should report Account Receivable of $6,000 in its balance sheet at 31st March.

mixer [17]3 years ago
7 0

Anw12e1 2e dwqd ffef ewke

Explanation:

You might be interested in
Cashiers at the supermarket are allowed to adjust the price of an item up to a maximum of​ $5.0 without getting the​ manager's a
Alekssandra [29.7K]
I didn't even read it
8 0
3 years ago
In computations of weighted average of shares outstanding, when a stock dividend or stock split occurs, the additional shares ar
amm1812

Answer:

The correct option is 4

Explanation:

Weighted average shares outstanding, is the term which is described as the number of company shares evaluated after the adjustment for the variations in the share capital through the reporting year.

The shares of the company which are outstanding will not be constant and might change or vary through various times through the period.

While computing the weighted average of the shares outstanding, when the stock dividend happen, the extra shares are taken as outstanding at the starting of the earliest period.

8 0
3 years ago
The demand for a product is likely to be more​ elastic:
vivado [14]

The demand for a product is likely to be more elastic if there is a presence of more time passes which is letter c. As a demand of a product will likely be affected with the price changes over the period of time. It is because a demand elasticity occurs when there is a presence of change in regards to the demand for goods, such examples are the income of the consumer.

6 0
3 years ago
Corporate social responsibility: Group of answer choices
Misha Larkins [42]

Answer:

Letter e is correct.<em> Extends beyond ethics to include community, environment, and human rights</em>

Explanation:

Corporate social responsibility refers to the voluntary commitment that companies have to make a contribution to the development of the society in which it operates, in addition to reducing its environmental impacts and ensuring the preservation of human rights. This is when the company implements beneficial actions that exceed those required by law.

In a globalized world, there is legal pressure from consumers, institutions, NGOs and the media to make companies not only profitable but also voluntary contributors to building a more egalitarian society.

The benefits added to companies that practice corporate social responsibility are diverse, with emphasis on improving community value and improving stakeholder satisfaction and perception.

5 0
3 years ago
Explain the relationship between consumers and producers in economic growth and activity
Strike441 [17]

The economy consists of producers, who make and sell goods and services, and consumers, who buy the goods and services.

Producers rely on consumers to buy from them, and consumers rely on producers to provide the goods and services they want.

Money allows this relationship to work.

3 0
3 years ago
Other questions:
  • Spectrum Inc., an automobile manufacturer, is interested in measuring the customer satisfaction of car owners. It decides to col
    12·1 answer
  • What is the most common reason for failure to pay regular child support as indicated by the text?
    8·1 answer
  • Using the information below for Singing Dolls, Inc., determine the total manufacturing costs incurred during the year: Work in P
    15·1 answer
  • Use the following data to compute total manufacturing costs for the month: Sales commissions $ 10,800 Direct labor 39,600 Indire
    13·1 answer
  • An article in the Wall Street Journal discussed the views of Canadian Minister of Finance Joe Oliver on the effect of falling oi
    8·1 answer
  • Most successful organizations minimize the need for explicit rules, regulations, and other boundaries by
    11·1 answer
  • Priscella pursued a hobby of making bedspreads in her spare time. Her AGI before considering the hobby is $40,000. During 2019 s
    10·1 answer
  • Which of the following is an example of a content management system (CMS)?
    7·1 answer
  • in the search for​ profits, u.s. corporations have been forced to look beyond our​ country's borders. all of the following contr
    13·1 answer
  • Fiberone cereal costs about the same as apple jacks, boo berry, multigrain cheerios, cinnamon toast crunch, crispix, and corn fl
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!