Answer:
b. Debit Unearned revenues for $400.
Explanation:
When money is received in advance for a service that is yet to be rendered, the money is accounted for as a liability called deferred or unearned income.
The entries are
Dr Cash
Cr Deferred revenue
when the service is rendered, revenue is said to be earned with the following entries passed
Dr Deferred revenue
Cr Revenue
Hence when $1,000 for services was received on December 1 and was recorded as a liability
Dr Cash $1,000
Cr Deferred revenue $1,000
when $400 had been earned
Dr Deferred revenue $400
Cr Revenue $400
Option b is right
b. Debit Unearned revenues for $400.
Answer:
$1,620,000
Explanation:
Assume that Sharp operates in an industry for which NOL carryback is allowed.
In its first three years of operations Sharp reported the following operating income (loss) amounts: 2019 $ 1,350,000 2020 (3,150,000 ) 2021 5,400,000
There were no deferred income taxes in any year. In 2020, Sharp elected to carry back its operating loss.
The enacted income tax rate was 25% in 2019 and 30% thereafter.
In its 2021 balance sheet, what amount should Sharp report as current income tax payable is the applicable tax rate for 2021 applied on the income of the year: 30% x 5,400,000 = $1,620,000
Answer:
Gross requirement for A = 10 units
Inventory on hand for a is 2 units
Net requirement is 10 -2 = 8 units
Therefore Gross requirement of D = 8 * 3 = 24 units (for each A, 3 units of D is required)
and Gross requirement of F = 8 * 2 = 16 units (for each A, 2 units of F is required)
Based on the Trompenaar's value dimensions the culture that separate the work and the private lives of the manager is the specific oriented value
Explanation:
There are seven basic values based on which each of them are defined and the dimension that allow the people to keep their private lives and their work life different is called as specific oriented culture
The other dimensions also includes the difference between the national cultures and they developed the model in each cultures and they can help the people to understand the basic differences