Answer:
June 15
Dr. Account Receivable $24,000
Cr. Service Revenue $24,000
At the time of Receipt in July
Dr. Cash $24,000
Cr. Account Receivable $24,000
Explanation:
As the Services are performed on June 15, and Great Venture has a right to received the payment against the services provided. So, the revenue is recognized and The payment for the services has not been made yet. This result in the creation of account receivable, That is expected to receive in July.
In July the payment is received. The cash account will be debited as the cash is received and on the other hand account receivable will be credited to remove the due balance of $24,000 from receivables balance.
Answer: d. more coffee and fewer football tickets
Explanation:
MU/P refers to the marginal utility gained per dollar of an alternative and rationale consumers are always expected to maximise their utility by picking alternatives that give them more utility as opposed to less.
The MU/P for coffee is 20 whilst that of football tickets in 10. This means that more utility is gained from getting more coffee as opposed to football tickets. The action that would maximise utility would therefore be one where the consumer gets more coffee and fewer football tickets.
Answer:
b. deducted from net income whether declared or not
Explanation:
The formula to compute the basic earning per share is shown below:
Basic earning per share = (Net income - preferred stock dividend) ÷ (weighted average of outstanding shares)
In the case of the non- convertible cumulative preferred stock, the dividend should be paid whether the business earns profit or loss. If the business does not earn any profit during a particular year, in that period the dividend amount is carried forward to next year.
So, the dividend arrears are to be paid to the cumulative preferred stock.
1.) data
2.)aptitude
3.)skill
4.)personality trait
5.)intrapersonal
6.) learning style
Answer:
a responsibility center that incurs costs and generates revenues.
Explanation:
We know that
The profit = Sales revenue - cost
After selling the product and incurred expenses, the amount which is left is shown as a profit. The remaining amount is termed as a profit that a firm has earned during a particular year.
It is the responsibility center at which we know about the total cost incurred and total revenues earned so that it becomes easy to compute how much the firm has earned the profit in a year.
