Answer:
$1,300
Explanation:
Given that,
On November 15, 2021
sold gift cards = $1,950
Of the gift cards sold in November,
Redeemed in November = $195
Redeemed in December = $455
Therefore, the deferred revenue is as follows
= November sales - Redemptions
= November sales - (Redeemed in November + Redeemed in December)
= $1,950 - ($195 + $455)
= $1,950 - $650
= $1,300
Answer:
<u><em>Social Audit</em></u>
Explanation:
The Pak-It-Way Company makes custom packaging of all kinds . The firm has evolved into a big business due to quality and innovative work . Recently , top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and also to list negative occurrences that supervisors observed . Top management is essentially conducting a <u>social</u> <u>audit.</u>
<em>Social audit is an audit to examine how an organisation is behaving or working for its employees , society and environment.</em>
Social audit helps in encouraging the participation of the community , it also helps in encouraging the local democracy, it promotes the decision making and helps in developing the human resources.
Social audit has wide coverage , it is evaluated very systematically , it is always conducted in a regular period of time , it measures the social performance of the organisation towards its employees society and the environment. But social audit is difficult to conduct.
Answer:
D. $ 55 comma 000
Explanation:
The computation of the total revenue is shown below:
= Provided services for cash + Provided services on account
= $20,0000 + $35,000
= $55,000
In order to find out the total revenue, we considered only that transactions at which the revenues took place. So, only two transactions are relevant for the computation part
Answer:
d. Ensure that net income or net loss and dividends for the period are closed into the retained earnings account.
Explanation:
Temporary accounts are closed at the end of accounting period so that net income, net loss and dividends for the period are closed into retained earnings account.
All the expenses and gains or income of kind accounts must be closed at the end of the year and in order to close them, they are transferred to either Trading Account or profit and loss Account.
