Answer:
B: $1,500 is recognized this year, $ 9,000 next year and $ 7,500 in last year of contract.
Explanation:
Steven has adopted the accrual method in recording its revenue.
Accrual is an accounting concept which means expenses and revenues are recorded by a business when they are incurred not when cash is received or paid.
Accrual basis of accounting gives more accurate and true results as compare to cash basis accounting.
The payment received in September of $ 18,000 was the income for 24 months so it was wrong to record the whole amount as an income in September.
In the first year 2 months of income is recorded for November and December ($ 18,000÷24 = $750 per month) $750 × 2 = $1500.
In the second year 12 months revenue will be recognized ($750 per month × 12 = $ 9,000)
In the last year 10 month remained out of 24 months so the income recognized was ( $750 × 10 = $ 7,500)
Based on the various additions as well as discount, the total cost of the dress would be<u> $149.00</u>
The cost of the dress after the markup would be:
<em>= Wholesale cost x ( 1 + markup)</em>
= 105 x (1 + 65%)
= 105 x 1.65
= $173.25
After the discount, the cost is:
= 173.25 x (1 - 20%)
= $138.60
The cost after the sales tax is:
= 138.60 x (1 + 7.5%)
= $148.995
= $149.00
In conclusion, the cost of the dress is $149.00
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Answer: Higher taxes than in past years
Explanation:
From the question, we are told that about 28% of Cashland's citizens under the age of 65 are without healthcare and an advocacy group convinces its current administration to vote for basic healthcare for everyone.
Based on the above statement, the most likely thing that will occur will be an increase in taxes than previous years. Since the advocacy group convinces its current administration to vote for basic healthcare for everyone, the government will look for a way to generate money that will be used in tp build hospitals and also settle the hospital workers wages or salaries and hence the government will raise the tax in order to meet its need and construct the hospital.
Answer:
dragons were mithecal creatures
Explanation:
Answer:
the cost per unit of finished goods under absorption costing is $56
Explanation:
The computation of the cost per unit of finished goods under absorption costing is given below:
Direct materials $23
Direct labor $25
Variable manufacturing overhead $3
Fixed manufacturing overhead ($195.000 ÷ 39,000 units) $5
Total unit cost $56
Hence, the cost per unit of finished goods under absorption costing is $56