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Vika [28.1K]
3 years ago
5

Evans Ltd. publishes a monthly newsletter for retail marketing managers and requires its subscribers to pay $60 in advance for a

one-year subscription. During the month of August 2019, Evans Ltd. sold 500 one-year subscriptions and received payments in advance from all new subscribers. Only 350 of the new subscribers paid their fees in time to receive the August newsletter; the other subscriptions began with the September newsletter.
Use the horizontal model to record the effects of subscription fees received in advance during August 2019.
Business
1 answer:
Sav [38]3 years ago
3 0

Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

Total Sales = No. of Subscription Sold × Advance Price of Subscription

= 500 × $60 = $30,000

August Month Received Amount = (No. of Subscriber × Paid Amount) ÷ (1÷12 )

=(350×$60)÷1÷12

= $21,000 ÷ 12

= $1,750

Balance Sheet

Particular     Assets($)   Liabilities($)    Stockholder Equity($)   Income($)

Cash        36,000    

Unearned revenue      36,000  

Earned revenue       -1,800                                              -1,800

Total        36,000      34,200                                             -1,800

Income Statement

Income            Amount ($)                 Expense ($)      Amount ($)

Earned Revenue -1,800  

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Answer and Explanation:

An investment when it would be risk free in that case both the principal and the interest amount are to be paid within the prescribed time. Also when the U.S government bonds i.e. long term would be issued by the government have a lesser interest rate as compared with the other riskier securities available at the market place this is because as the government would default next to zero in case of the short term it would make the default when there are extreme situations arise.

Therefore in the short term it would be risk free

But in the long run, the person is based on the treasury bills returns so that he or she could equate the similar standard of living also it would not suffice when the inflation rises

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6 0
3 years ago
Douglas County sought bids for a construction project. Robert Taggart wanted to submit a bid but knew the project needed rock. H
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Answer:

No, there is no contract between the two parties because of withdrawal of offer (Revocation) before the acceptance of the other party.

Explanation:

When one party offers another party and after some time the offer maker withdraws the offer by communicating that they had revoked then the offer is no more available to the other party and is often termed as Revocation. So when the offer maker revokes before the acceptance of the offer by the other party then their is no offer at consideration to the other party, which means if there is no offer then their can not be an acceptance of an offer and of course when there is no acceptance then there is no contract.

The communication of revocation was held before the acceptance of the offer of the other party which agains says that the contract was not actually formed.

4 0
3 years ago
On December 31, Strike Company sold one of its batting cages for $20,000. The equipment had an initial cost of $310,000 and had
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Answer:

d.loss of $30,000

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Imagine that an exchange student from China visits your class. While your teacher discusses how the United States has a limited
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The point best highlights about the US government limited power is that limited government protects individual freedoms. Thus the option (C) is correct.

<h3>What is Government?</h3>

Government refers to the group of individual governing the nation. The main role of the government is the protect of its territory from the outsiders. It functions in various sectors such as health, education, defense, infrastructure etc.

As per the above scenario, a Chinese students asks his teacher that why the American government has the limited power the best reason for the limited power is government protects the individual freedom by diving the power into many hands.

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8 0
2 years ago
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Answer:

The correct answer is: reduce; not as highly valued as others.

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If the economic systems do not restrict the production of goods and services as much as they want it may lead to the production of those goods and services that are not as highly valued as others. This will cause wastage of resources, thus reducing the economic efficiency of the system.

8 0
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