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
mixer [17]
3 years ago
8

In the Month of March, Digby received orders of 123 units at a price of $15.00 for their product Deal. Digby uses the accrual me

thod of accounting and offers 30 day credit terms. Digby delivers 123 units in April. They received payment for 62 units in March, and 62 units in April. In the March income statement, how much revenue is recognized on the March income statement from this order
Business
1 answer:
ValentinkaMS [17]3 years ago
7 0

Answer:

The amount of revenue is recognized on the March income statement from this order is $1,845.00.

Explanation:

Accrual accounting can be described as a method of accounting in which revenue or expenses are recorded at the time of the transaction rather than when payment is received or made.

Since this transaction occurred in March, the total revenue of orders of 123 units received in the month of March will be recognized on the March income statement from this order. That is:

Amount of revenue to recognized in March = 123 * $15.00 = $1,845.00

Therefore, the amount of revenue is recognized on the March income statement from this order is $1,845.00.

You might be interested in
Vint and Gracie are married and will file a joint tax return. For 2020, their modified adjusted gross income was $110,000. Graci
masya89 [10]

The amount that Vint and Gracie can claim for 2020 lifetime learning credit is <em>D. $600</em>.

Explanation:

Joint Modified Adjusted Gross Income for 2020 = $110,000

Tuition for the fall semester paid by Gracie = $3,000

Limit placed on lifetime learning credit = $2,000

Rate of lifetime learning credit = 20% of the first $10,000

Allowed lifetime learning credit = $600 ($3,000 x 20%)

<u>Answer Options</u>:

A. $0

B. $200

C. $400

D. $600

Thus, the amount that the couple can claim for 2020 lifetime learning credit is <em>D. $600</em>.

Learn more: brainly.com/question/14263483

7 0
3 years ago
Consider the following transactions: Issued common stock for cash. Purchased equipment by signing a note payable. Provided servi
Mashutka [201]

Answer:

The answer is: The only transaction that increases the company's liabilities is; Purchased equipment by signing a note payable.

Explanation:

By issuing common stock, you increase the company's equity and the cash account.

If you provide services on account, you are generating revenue and creating an asset; accounts receivable.

If you collect cash from customers, you are increasing the cash account and decreasing the accounts receivable account, both are asset accounts.

5 0
3 years ago
Silence will operate as acceptance in the following circumstances except:
schepotkina [342]
Silence will operate as acceptance in the following circumstances except when the offeror indicates that silence will operate as acceptance
3 0
3 years ago
The consumer confidence index published by the conference board measures consumer:_______
ziro4ka [17]

The consumer confidence index published by the conference board measures consumer <u>a. sentiment</u>.

The confidence index is posted by means of the conference Board and measures investor outlook on the financial system and the markets - hence it is a measure of patron sentiment.

The confidence index will tell you how positive you may be that your remedy may have an equal effect (as befell in your experiments) on the whole population. it is a conference for scientists to document their facts with a p-value, and even though it is much like a confidence index, it is not identical.

A patron self-belief index (CCI) is an economic indicator posted through numerous agencies in numerous countries. In easy terms, elevated customer confidence shows a financial increase in which clients are spending cash, indicating higher consumption.

Learn  more about the confidence index  here brainly.com/question/4300488

#SPJ4

6 0
2 years ago
At the beginning of the year (January 1), Buffalo Drilling has $10,000 of common stock outstanding and retained earnings of $6,4
rjkz [21]

Answer:

Total Stock Holder equity=$27900

Explanation:

Amount in the beginning:

Common Stock=$10000         Retained earnings=$6400

Stock Holder equity=Common Stock+ Retained earnings

Stock Holder equity=10000+6400

Stock Holder equity=$16400

During the year:

Net Income=$6700,     Dividends=-$1400 (-ve shows less from total)

Additional Common Stock=$6200

Total Common Stock=$10000+$6200

Total Common Stock=$16200

Total Retained Earning=$6400+$6700-$1400

Total Retained Earnings=$11700

Total Stock Holder equity=Total Common Stock+Total Retained Earnings

Total Stock Holder equity=$16200+$11700

Total Stock Holder equity=$27900

4 0
3 years ago
Other questions:
  • Apple has been working on what it believes is a revolutionary new technology. CEO Tim Cook is finally ready to showcase this tec
    8·1 answer
  • Suppose you deposit ​$1 comma 700 cash into your checking account. By how much will the total money supply increase as a result
    14·1 answer
  • E20.5 (LO 3) (Application of Years-of-Service Method) Andrews Company has five employees participating in its defined benefit pe
    10·1 answer
  • When using the wet method, holding the spray nozzle too close to the brake surface may cause asbestos fibers to
    14·1 answer
  • Jake is in the stands at a football game with his girlfriend. He decides that he needs to ask her something very personal, so he
    8·2 answers
  • Jose and Zola want to purchase their first home. Jose makes $23.50 an hour and works 40 hours per week. Zola makes $21.50 an hou
    10·1 answer
  • A broker has a single agency relationship with the seller. Any REQUIRED property condition disclosure would be completed by the
    13·1 answer
  • The blueprint of a design is shown to the client at what point in the process
    6·1 answer
  • Brainlest???
    11·1 answer
  • In 2017, almost ________ of americans only used a mobile device to access the internet.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!