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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

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Explanation:

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The goal of _____ is to make it convenient for consumers to find and purchase products at many locations and in many ways.
stepan [7]
The answer is C. intensive distribution. 
The goal of Intensive distribution is to make it convenient for consumer to find and purchase products at many locations and in many ways. This kind of distribution distributes their products on a many locations.
8 0
3 years ago
If the real output of a DVC increases from $200 billion to $260 billion and its population increases from 100 to 110 million, it
SCORPION-xisa [38]

If the real output of a DVC increases from $200 billion to $260 billion and its population increases from 100 to 110 million, its real per capita output will have increased by about $167. This is further explained below.

<h3>What is real per capita output?</h3>

Generally, The real gross domestic product per capita is a figure that is calculated by dividing the entire economic output of a nation by the total population of that country after adjusting for inflation.

In conclusion, If the actual production of a DVC goes from $200 billion to $260 billion and at the same time its population goes from 100 million to 110 million, then the real output per capita will have climbed by around $167.

Read more about real per capita output

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3 0
1 year ago
Which of the following best defines a SWOT analysis? Group of answer choices
Grace [21]

Answer:

The correct option is its aim is to review internal processes independently of the external industry environment

Explanation:

The first option is wrong because it only made mention of the internal strengths and weaknesses,there is no mention of external opportunities and threats

The second option is obviously wrong as SWOT has no direct link with classifying assets as tangible or intangible.

It is not conducted by regulatory agencies as it is not a regulatory requirement

Lastly ,internal processes refer to strengths and weakness while opportunities and threats emanate from the external industry environment

6 0
3 years ago
I'maGoldMiner has benefited from a record rise in gold prices in the global commodities market. While the price of its output is
Svetllana [295]

Answer:

I'maGoldMiner has benefited from a record rise in gold prices in the global commodities market. While the price of its output is highly influenced by market speculation, if it wants to increase production to take advantage of the current profit-maximizing opportunity, the company must accept market price for its physical capital input.

Explanation:

Actually, the market of gold is very speculative and in general  a "gold mines" has to accept market prices because they can't influence in them as in the case of I'maGoldMiner because it represents a small part of the market.

3 0
3 years ago
Waite Company's comparative balance sheet and income statement for last year appear below: The company declared and paid $24,000
zepelin [54]

Answer:

c. $86,000

Explanation:

The operating activities in the cash flow is the area where day to day business activities are recorded. This area mainly covers the cash incoming and outgoing due to regular business activities. The company paid dividends to its shareholders this will be considered as a financing activity as it is not of regular nature.

8 0
3 years ago
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