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2 years ago

At the end of the current year, $12,040 of fees have been earned but have not been billed to clients.

Business

1 answer:

PSYCHO15rus [73]2 years ago

4 0

Answer:

Date Account Title Debit Credit

XX-XX-XXX Accounts Receivable $12,040

Fees earned $12,040

b. No it would not have been.

If using the cash basis, the revenue would only be recognized when the cash is paid to the company. As the cash has not been paid, there would be no need to adjust for the revenue in the present period.

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Alicia and Kwame are conducting customer surveys to gather information for a report. This is an example of ______ research.

artcher [175]

Answer:

Primary

Explanation:

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2 years ago

Two types of value that are often contrasted are subjective value and: Group of answer choices A. inherent value B. reproduction

Ilia_Sergeevich [38]

Answer:

The correct answer is letter "C": objective value.

Explanation:

Subjective values are those provided by individuals based on their beliefs, perceptions, ideas, feelings, and reflections. Subjective values are biased. Objective values, on the other hand, are based on facts, statistics, evidence, and observations. Objective values are unbiased.

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2 years ago

During its first and second years of operations, Rogers Company, a corporation using a periodic inventory system, made undiscove

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Answer:

Net Income understated by $20,000

Explanation:

In the first year, closing inventory was overstated by $80,000. The implications of the above would be,

Net Income for the first year would be overstated by $80,000

In the Second year,

Opening Stock would be overstated by $80,000

Due to this, cost of production stands overstated by $80,000.

Now, given in the question that closing stock for second year is overstated by $60,000 i.e profits are overstated by $60,000.

This means, the net effect on profits would be, $80,000 less $60,000 i.e $20,000 understated profits for the second year.

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3 years ago

According to the Federal Housing Finance Board, the mean price of a single-family home two years ago was $299,500. A real estate

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Answer: A.There is sufficient evidence to conclude that the mean price of a single-family home has increased from its level two years ago of $299,500

Explanation:

From the question, we are informed that according to the Federal Housing Finance Board, the mean price of a single-family home two years ago was $299,500 and that a real estate broker believes that due to recent credit crunch, the mean price has increased since then and the result is that the null hypothesis is not rejected.

The conclusion based on the results of the test is that since the null hypothesis has been rejected, it simply means that there are sufficient evidence that there has been an increase in the mean price since two years ago.

Therefore, option A is the correct answer.

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3 years ago

Trade will take place: A. if the maximum that a consumer is willing and able to pay is less than the minimum price the producer

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Answer: (B.) If the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good.

Explanation:

A producer will only sell goods and services if the consumer is willing to pay as much as the asking price. i.e. The price that the producer is asking. For this to happen the consumer's willingness to pay must be greater than the minimum price.

Therefore , the trade will take place if the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good.

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2 years ago