A gym offers one-year memberships for $99 and requires customers to pay the full amount of cash at the beginning of the membership period. For the gym, this is an example of a(n): Deferred revenue.
Since the whole amount is received in advance (before the membership periods) it cannot be charged as revenue in the income statement. This would be treated as deferred revenue, till the membership period is over. Such deferred revenue is a liability of the gym and must be recorded in the Balance Sheet.
Cash-based accounting does not record depreciation expenses. Cash Accounting does not record journal entries when sales are made on an account. Generally accepted accounting principles (GAAP) require you to use the accrual basis of accounting.
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Answer:
Pension expense $100,000
Explanation:
The computation of the pension expense for the year is shown below:
Service cost $112,000
Interest cost $64,800 ($810,000 × 8%)
Amortization of prior service cost $6,600
Amortization of net loss $2,600
Less: Expected return on plan assets -$86,000 ($860,000 × 10%)
Pension expense $100,000
When a project has a large scope, then, it may be worth it for the team to learn with a more sophisticated project management tool.
<h3>What is a
large scope project?</h3>
These are project that involves large investment and of large scales.
Hence, these type of project may worth been learned with a more sophisticated project management tool by the team.
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Job rotation involves moving employees from one job to another.
Explanation:
Rotation of jobs is a strategy used by certain employers for rotating assigned work for their workers during their work. For a number of reasons managers use this strategy.
The rotation of jobs involves shifting workers from one position to another systematically. Jobs will not change, but staff will be going from work to work. For example, a management staff member may spend most of the week taking care of a company's reception area, interacting with customers and requests.
Answer:
In simple words, When it comes to conserving money, the most crucial factor to remember is the protection principle. When you save enough money beyond what you'll need for short-term objectives and emergencies, you'll have money to invest. Professionals advise saving one to two years' worth of account value in a contingency savings.
Thus, protecting principal is the core focus of the managers in savings plan.
