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
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.

You might be interested in
"Evan lives in an apartment building. The land and structures are owned by a corporation, with one mortgage loan covering the en
julsineya [31]

Answer:

co-operative ownership

Explanation:

Cooperative ownership is an apartment ownership  is the process where by a buyer receives shares of stock in the building corporation and a lease of the apartment being sold as the case of Mr Evan.

5 0
3 years ago
What does compounding interest mean??
ivolga24 [154]
Compounding interest is interest on top of interest.

For example, say you put 100 bucks in the bank.
You get 10% interest compounded daily on that 100 bucks.

That means that you get 10% interest not only on those 100 bucks, but all the money you make after.

So your interest would go from 10% on 100 bucks, to 10% on 110 bucks and so forth.

I hope this helps and please press that ❤ under my reply, it really helps!
7 0
3 years ago
When managing your human resources, _____________ is the process of deciding who should be hired, under legal guidelines, to ser
UkoKoshka [18]

Answer:

Interview

Explanation:

An interview is an official conversation between an interviewer and interviewee. The purpose of the interview is to asses whether the interviewee qualifies to hold the position. The interview process usually takes place on the employer premises. Apart from academic and work experience, the recruiting manager assesses other qualities that would make the candidate suitable to work in that organization. Such traits may include teamwork and leadership.

When conducting interviews, an employer will invite several qualified candidates.  The interviewer or the interviewing panel scores each candidate and selects the best. The interview presents the candidate with an opportunity to learn fine details about a potential employer. Specific detail about the job, such as the terms and conditions, are disclosed.  

3 0
3 years ago
An increase in the price of gasoline will reduce the amount of gasoline purchased. This is
nekit [7.7K]

Answer:

<h2>In this case,the answer is option is B. or a positive economic statement.</h2>

Explanation:

  • In Economics or any Social Science,a positive statement basically refers to an assertion,proposition,fact etc. that can be practically tested or evaluated by examining statistical or empirical data,information and/or facts.
  • In this instance,the statement given represents an economic relationship between two economic variables,that is,price of gasoline and its consumption level.
  • Therefore,this is a general statement that can be verified or evaluated by collecting and examining relevant numerical data or facts on the price of gasoline and its consumption level at various parts of the country.
  • Following the data or numerical fact collection on both price of gasoline and its consumption or purchase level,a basic correlation study can be conducted between the two concerned variables to determine whether the gasoline price has any practical impact on its consumption level.
5 0
3 years ago
The ability to automatically detect the occurrence of an abnormality, thereby helping achieve quality at the source, is?
Sever21 [200]

 The ability to automatically detect the occurrence of an abnormality, thereby helping achieve quality at the source, is jidoka

Therefore, Jidoka's definition is best understood as "automation". This means manual automation or autonomous automation. The origin of Jidoka can be traced back to Toyota Motor Corporation, which was founded by Sakichi Toyoda as a textile manufacturer.

A famous example of Jidoka is his Model G for Toyoda Automatic Loom, invented and patented in 1925 by Sakichi Toyoda (1867–1930). This is one of the many looms invented by this inventor, but perhaps his most famous. This loom could be operated almost unmanned. Jul 31, 2018

Automation is a commonly used term in Lean Manufacturing, widely considered one of the pillars of the Toyota Production System, the other being Just in Time (JIT). The term "Jidoka" is often used to impress others, but the idea behind it is less common outside of Toyota.

Learn more about jidoka here

brainly.com/question/162683

#SPJ4

3 0
2 years ago
Other questions:
  • Budweiser is a popular brand of beer. Part of this company's market research of U.S. consumers looked at education levels of bee
    6·1 answer
  • In order to understand how a specific business firm uses information systems, you need to know something about the history and c
    12·1 answer
  • Kostelnik Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours
    8·1 answer
  • What can I do to make money with no money and no credit?
    9·2 answers
  • E-Flix rents DVDs that are mailed out to customers upon demand. E-Flix has identified three activities involved in getting the v
    14·1 answer
  • Ryan wants to sell personal website services to American soldiers in Afghanistan. Because of the difficulty of communicating wit
    13·1 answer
  • Describe business transaction that will do the following.
    11·1 answer
  • I want to become either a rapper or an artist in arts. how do i follow my dream.
    10·2 answers
  • Dennis Kozlowski, John Thain, and Raj Rajaratnam are former CEOs mentioned in the text that have been involved in corporate gove
    7·1 answer
  • An investment that has earned a high rate of return over the last 5 years will necessarily continue to perform well in the futur
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!