Answer:
The amount of revenue recognizable in 2021 is $84000 as shown below
Explanation:
Since the revenue spans over two years,8 months in the year 2021 and the remaining 4 months relate to 2022, the revenue should be recognized on proportional basis.
The revenue in 2021 =total revenue*months in the year/12 months
=$126000*8/12
=$84000
This amount is recorded on monthly basis by crediting revenue with one month sales revenue value $10500($126,000/12) and debiting to deferred revenue.
At the end of the year four months worth of revenue amount would be left in deferred revenue account as revenue for 8 months would have been recognized.
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Answer:
(A) 22,222.22
(B) 57,142.86
Explanation:
we will divide the deposit by the reserve requirement to know how much will expand the money supply.
4,000/0.18 = 22,222.22
4,000/0.07 = 57,142.86
The reasoning behind this multiplier effect is the following:
you deposit 4,000
the bank leave 18% = 920
And lend the remaninder: 3,080
Then, when this are deposit, again takes the minimun reserve and lend the remainder:
3,080 x 18% = 554.4
3,080 - 554.4 = 2,525.6
This process is repeated giving diminished amount to money available to lend. Thus, finding a limit on the division between fund and reserve requirement.
4,000/0.18 = 22,222.22
Answer:
Apparent Authority
Explanation:
Based on the information provided within the question it seems that the authority that Charlene has given Megan is Apparent Authority. This term refers to a subtle authority given to an individual which a reasonable third party would understand that they are an agent acting on behalf of their employer. Such an example would be an employee driving a UPS truck, any reasonable person would see the UPS truck as a sign that the individual driving has authority to act on behalf of the UPS company. The UPS truck is similar to the business card that Megan has, giving her apparent authority to act on behalf of Thrift City.
An agreement is any understanding or arrangement reached between two or more parties. A contract is a specific type of agreement that, by its terms and elements, is legally binding and enforceable in a court of law.
