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scoundrel [369]
3 years ago
10

On January 15, 2021, Bella Vista Company enters into a contract to build custom equipment for ABC Carpet Company. The contract s

peci
Business
1 answer:
lesya692 [45]3 years ago
5 0

Answer:

recorded on March 31, 2021.

Explanation:

As we know that if there is an accural basis so the revenue is recognized and recorded when it is earned here the receipt of cash is not material for recording the revenue

Since in the given situation, the date of completion of the contract is considered for recording date of revenue as per the accrual basis

So March 31, 2021 should be considered

 

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At wich step is a solution implemented in the decision-making process of solving a workplace problem ?
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The decision making process of solving a workplace have seven steps: Identification of the problem, understanding interests, list of possible solutions, evaluating the options, selecting the options, documenting of the agreements and agreeing on contingencies, monitoring and evaluation. The solution is implemented on the last step which is agreeing on contingencies, monitoring and evaluation because in here there are opportunities that are created to evaluate the agreements and the implementation of the solutions.

7 0
3 years ago
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Which of the following best explains why online retail companies have an
tekilochka [14]

Answer is D.

Explanation: They have a larger number of potential customers because people anywhere can buy from them.

5 0
3 years ago
Kuong Inc. sold a commercial office building used in the corporate business for $1.5 million. Kuong purchased the building in 20
mars1129 [50]

Answer: $107,600 ordinary gain and $530,400 Section 1231 gain

Explanation:

Section 1231 property is when a business property that's either real or depreciable is held for more than one year. It should be noted that section 1231 gain which arises when the property is sold will be taxed at lower capital gains tax rate which is versus the ordinary income rate.

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The correct option is C.

7 0
2 years ago
Wilson Co. has three segments -- Tennis, Golf, and Fishing. The Tennis segment is currently producing 2,000 units annually. The
frutty [35]

Answer:

$400,000

Explanation:

Calculation to determine the differential revenue if Wilson Co. were to eliminate the Tennis segment

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Therefore the differential revenue if Wilson Co. were to eliminate the Tennis segment will be $400,000

6 0
3 years ago
Listed below are accounts that appear in financial statements.
Kobotan [32]

Answer:

Dividends  - <em>Statement of Changes  in Retained Earning</em>

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Differed Revenue  - <em>Balance Sheet</em>

Differed Revenue refers to money that was received from a customer or client for goods and/or services that have not yet been delivered. The business will treat them as a liability until they are delivered so they will go under Current Liabilities in the Balance Sheet assuming they are to be fulfilled in 12 months or less which is usually the case.

Service Revenue - <em>Income Statement</em>

These are revenue that the business earns for providing a service when their main source of revenue is by selling goods. It is listed in the Income Statement just after Revenue and is added to Revenue to get Total Revenue.

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3 years ago
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