Answer:
a. Using the cash basis of accounting:
Cash received from customer $280,000
Cash received for future service <u>$12,000</u>
Total gross income <u>$292,000
</u>
b. Using the accrual basis of accounting:
Service revenue = ($280,000 - $40,000 + 60,000) = $300,000
Gross income $300,000
c) AI should use cash accural basis of accounting so that he will not have to pay income taxes on uncollected accounts receivable.
The appropriate response is operant conditioning. An individual changes its conduct due to the outcomes (results) of the conduct. The individual or creature takes in its conduct has a result. That outcome might be. Fortification: a positive or compensating occasion.
A. Extravert due to his very social personality
Answer:
Dr Petty cash $312
Cr Cash $312
Explanation:
Preparation of the journal entry to record the reimbursement of the fund on September 30
Since we were told that Havermill Co. establishes the amount of $450 as petty cash fund on September 1 in which the fund also had a balance of $138 which means the Amount required for reimbursement of the fund will be:
Amount required for reimbursement of the fund = The Beginning balance - The Remaining balance
Amount required for reimbursement of the fund = 450 - 138
Amount required for reimbursement of the fund = $312
Therefore the journal entry to record the reimbursement of the fund on September 30 will be :
September 30
Dr Petty cash $312
Cr Cash $312
Explanation:
Conversion costs = Direct labor + Factory overhead
7,800,000 = Direct labor + 5,400,000
Direct labor = $2,400,000
First option is the correct option.
I know this much only.