Answer:
A.
Debit Unearned Revenue $11,250
Credit Sales $11,250
Explanation:
B. It is an income for the company. Prepaid subscription is an expense for the company. Therefore, it is incorrect.
C. It is contradictory as the company already recorded the first quarter transaction. Therefore, Unearned revenue should be debit. So, it is also incorrect.
D. According to the revenue recognition, revenue is recognized when they are earned. Therefore, the company acquired the cash when the company received last year. So, it is incorrect.
E. Again, cash cannot be credit. Therefore, it is incorrect.
A is the correct answer. As, when the company received the payment, unearned revenue was credit. As the income is now recorded for the first quarter, $(45,000/4) = $11,250 of unearned revenue becomes earned. So, it is debit. Since it is a sale of a company, the sale becomes credit.
Answer:
A) The firm can ratify Haskin's actions and take over the contract.
Explanation:
Hanskin's was not explicitely allowed to buy the property in Arizona, but he did it with the intention of increasing the amount of assets that the real estate company holds.
The board of directors should simply take over the contract as long as it is profitable (it most likely is), and analyze whether to change its policies about property purchasing or not, because requiring a board resolution for each one of them can make the process slow and increase opportunity costs.
<span>1- Economic Analysis Using Metrics
2- Infrastructure and technology
3- Analyzing Government Actions
4- Analyzing Sociocultural Factors</span>
I had to look for the options and here is my answer:
Based on the one presented above, we can say that the equivalent equation can be written like this: <span>BI + P = COGS + EI. BI refers to the beginning inventory and P is the purchases. The COGS is the cost of goods sold. EI is the ending inventory. Hope this helps.</span>
Answer: Opening a regular savings account.
Explanation: This is because she will save more.
