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11111nata11111 [884]
3 years ago
9

The following transactions occurred during July:1. Received $1,200 cash for services performed during July.2. Received $6,400 ca

sh from the issuance of common stock to owners.3. Received $600 from a customer as payment for services performed during June.4. Billed $4,100 to customers for services performed on account in July.5. Borrowed $2,900 from the bank and signed a promissory note.6. Received $1,600 from a customer for services to be performed during August.What is the amount of revenue that will be reported on the income statement for the month ended July 31?This question was already posted but the response was answered in a manner in which could not be read and half the response was cut off. Please post within the limits of the space we are given so the work can be read.
Business
1 answer:
nikklg [1K]3 years ago
7 0

Answer:

The amount of revenue that will be reported on the income statement for the month ended July 31 is equal to $5,300.

Explanation:

The applicable accounting concept here is accrual concept.

Accrual concept states that revenue is recognized when it is earned and expenses are also recognized when they are incured no matter when cash is received or paid.

Based on the accrual concept, only transactions 1 and 4 will be used in calculating the amount of revenue for July as follows:

July revenue = Cash received for services performed during July + Billing of customers for services performed on account in July = $1,200 + $4,100 = $5,300

Therefore, the amount of revenue that will be reported on the income statement for the month ended July 31 is equal to $5,300.

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Arthur is an unskilled worker who is currently unemployed. He has been offered a job that pays $40 a day, but he is currently re
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Answer:

Structurally.

Explanation:

Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;

1. Cyclical unemployment rate (CU).

2. Frictional unemployment rate (FU).

3. Structural unemployment rate (SU).

Structural unemployment can be defined as an involuntary unemployment that arises as a result of the incompatibility between a worker's skills set and requisite skills an employer seeks from the workers or due to technological changes.

In this scenario, Arthur chooses not to accept a minimum wage job offer but rather chose to continue looking for a better job.

Hence, Arthur is structurally unemployed.

8 0
2 years ago
Suppose that a property can generate cash flows of $10,000 per year for eight years and can sell for $80,000 at the end of the i
Valentin [98]

Answer:

$90,669.85

Explanation:

Present value is the sum of discounted cash flows.

Present value can be calculated using a financial calculator

Cash flow each year year from year one to seven = $10,000 

Cash flow for year in year eighth = $10,000 + $80,000 =$90,000

Discount rate = 10%

Present value = $90,669.85

To find the PV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

5 0
2 years ago
A project to put on a major international sporting competition has the following major deliverables: Sports Venues, Athlete Acco
11Alexandr11 [23.1K]

Answer  & Explanation:

Deliverable I choose is Event.

Answer is explained and draw in attached document.

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7 0
3 years ago
An example of a capital budgeting decision is deciding: Group of answer choices how many shares of stock to issue whether or not
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whether or not to purchase a new machine for the production line

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Capital budgeting decision is the process by which a company sets aside money for the purchase of capital assets such as new machinery, new plants, research and development, and new product.

Capital budgeting is considered to be both a financial decision and an investment decision. Apart from cost incurred by making a purchase, the company considers the future cash flows the capital asset will generate.

Purchasing a new machine for the production line is a capital budgeting decision

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3 years ago
An encyclopedia is an example of a periodical.<br> O True<br> O False
saveliy_v [14]
True I believe that it is true
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2 years ago
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