Answer:
B.
Explanation:
Parenthesis are used to add the other content such as references guidelines, although they are not important but some readers tend to verify the argument so to guide them they content is given in parenthesis.
In example a: The information about the page is given by dash which is incorrect to do so.
In example b: The other information such as reference ( p.27) is given accurately.
In example C: My address is highlight by quoting, and it's not a quote, So, it's incorrect.
Answer:
<u>January 1, 2017</u>
Debit: Accounts Receivable $2800
Credit: Deferred Revenue[Wiring Base] - $1120
Credit: Deferred Revenue[Shelving Unit] - $1680
Narration: Contract Detail and invoicing of the client.
<u>February 5, 2017</u>
Debit Deferred Revenue[Wiring Base] - $1120
Credit Revenue Account - [Wiring Base] - $1120
Narration: Revenue recognition of Wiring Base delivered to customer
<u>February 25, 2017</u>
Debit Deferred Revenue[Shelving Unit]- $1680
Credit Revenue Account - [Shelving Unit] - $1680
Narration: Revenue recognition of Shelf delivered to customer
<u>February 25, 2017</u>
Debit: Bank - $2800
Credit: Accounts Receivable - $2800
Narration: Payment received in settlement of contract fully delivered
Explanation:
The question is an example of a Performance Contract.
A Performance Contract is an agreement with a customer by a vendor to discharge a service or provide goods that are distinct from each other. The accounting for this obligations will therefore be recorded and recognized separately.
It is also important to note that the services or goods must be separately identifiable and the customer must be able to derive from each goods on individually or jointly.
The rule is to
- Recognize the contract and invoice amount with the customer as Deferred Income.
- Identify the distinct obligations and services to be provided.
- Identify the transaction amount for each service or good.
- As each obligation is met, the revenue is finally recognized and transferred from Deferred income.
Answer:
Explanation:
The journal entry is shown below:
On February 20
Organization expense A/c Dr $60,000
To Common Stock A/c $25,000 (1,000 shares × $25)
To Paid in capital in excess of par-Common Stock $35,000
(Being the organization expense is recorded and remaining balance is credited to the Paid in capital in excess of par-Common Stock)
Answer:
Privacy
Explanation:
The law gives right to every person to their own privacy i.e. for one to live without being subjected to unwarranted and undesired publicity. The right to privacy actively deals with issue surrounding the personal matters of an individual and the right for them to be let alone.
A violation of this right is called the tort of invasion of the right to privacy. The tort of invasion of the right to privacy occurs when an individual sues another person who he/she believes has trespassed on his right to privacy. This trespass might come in form of disclose of their private information, or using the person`s name and associated things for another person`s gain without their consent.
Answer:
Variable cost
Explanation:
because sometimes companies set fixed price to other product
