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Dovator [93]
2 years ago
11

During 2019, Zigma Company earned service revenue amounting to $800,000, or which $645,000 was collected in cash; the balance wi

ll be collected in January 2020. Also in 2019, there were collections of cash prior to the delivery of goods/services totaling $11,100. What amount should the 2019 income statement report for service revenue
Business
1 answer:
timofeeve [1]2 years ago
8 0

Answer:

$800,000

Explanation:

Given that;

Sales revenue = $800,000

Cash collected = $645,000

Remaining amount cash collected in January = $155,000

And the delivery of goods is $11,100

Here, since the service revenue earned is $800,000 and same amount would be reported under the income statement, other items given would be ignored.

It therefore means that the sum of $800,000 should be the 2019 income statement report for service revenue.

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On January​ 1, Year​ 1, Gallagher Corporation issued 400 comma 000 stock options for 400 comma 000 shares to a division manager.
masha68 [24]

Answer:

$1,000,000

Explanation:

Gallagher Corporation

Stock option × Option estimated fair value /Numbers of years

Stock option $400,000

Option estimated fair value $10

Numbers of years 4

Hence:

($400,000 × $10) / 4 years

=$4,000,000/4years

= $1,000,000

Therefore pretax compensation expense for year 1 will be $1,000,000

4 0
3 years ago
Bell expects to produce 1 comma 800 units in January and 2 comma 155 units in February. The company budgets 3 pounds per unit of
Debora [2.8K]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Production:

January= 1,800 units

February= 2,155 units

The company budgets 3 pounds per unit of direct materials at a cost of $ 10 per pound.

Beginning inventory= 4,950 pounds.

Desired ending inventory= 20​% of the next​ month's direct materials needed for production.

Desired ending balance for February is 4,860 pounds.

To calculate purchases, we need to use the following formula:

Purchases= production + desired ending inventory - beginning inventory

<u>January (in pounds):</u>

Production= 1,800*3= 5,400

Desired ending inventory= (2,155*3)*0.2= 1,293

Beginning inventory= (4,950)

Total= 1,743

Total cost= 1,743*10= $17,430

<u>February (in pounds):</u>

Production= 2,155*3= 6,465

Desired ending inventory= 4,860

Beginning inventory= (1,293)

Total= 10,032

Total cost= 10,032*10= $100,320

3 0
3 years ago
some countries' governments do not put any limits on the purchase of foreign currency for residents and nonresidents. these coun
max2010maxim [7]

Some countries' governments do not put any limits on the purchase of foreign currency for residents and nonresidents. these countries have a freely convertible currency.

Currency is the unit of price of money that is agreed upon by the government and its people in a country. A country has its own currency, although there are several countries that have the same type of currency. For example, in Indonesia, the currency is Rupiah, while in Japan the currency is Yen. Meanwhile, countries that use the same currency include America, Ecuador, Cambodia, Panama, and the British Indian Ocean Region.

In addition, currency can also be defined as a medium of exchange for goods and services. The party or institution that has the absolute right to issue currency is the government and its central bank.

You can learn more about Currency here brainly.com/question/14372075

#SPJ4

4 0
1 year ago
How much is the total consumer spending​
Kamila [148]
Depends on the quality and quantity of goods
8 0
3 years ago
Governments that centralize their risk financing activities should account for this activity in which type of fund?
kari74 [83]

Answer:

The correct answer is letter "D": Either the General Fund or Internal Service Fund is acceptable.

Explanation:

The General Fund is used by the government to record all the inflows and outflows of the transactions related to daily use expenditures and long-term operations. The agency that provides the resources is the Department of Treasury through loans receivable.  

The Internal Service Fund record all transactions derived from the expenditures in the use of goods or services among government departments and agencies on a cost-reimbursement basis.

Thus, when reporting governmental financial activities, the can be recorded in the General Fund or the Internal Service Fund.

7 0
3 years ago
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