Answer:
June 30
Explanation:
As per the revenue recognition principle, the revenue is recognized when it is earned or realized that means service is performed but the payment is not made at the time of providing the service.
It is not get impacted when will be the cash received.
So, in the given case, the large sale is made on June 30 and on June 30 the revenue would be recognized.
Answer:
b. $14,660,000
Explanation:
The computation of retained earnings at the end of the year is shown below:-
Retained earnings = Beginning retained earning + Net income - Stock dividend - Cash dividend
= $11,000,000 + $5,000,000 + $500,000 - $840,000
= $14,660,000
Working Note :-
Stock Dividend = 400,000 × 5% × $25
= $500,000
Cash dividend = (400,000 + (400,000 × 5%) × $2
= 420,000 × $2
= $840,000
Answer: A supply schedule is a table that shows the quantity supplied at different prices in the market. A supply curve shows the relationship between quantity supplied and price on a graph.
Explanation: I HOPED THAT HELPED,!
Answer:
No, he doesn't show diminishing marginal utility. Yes, he shows increasing marginal utility for Coke.
Explanation:
The law of diminishing returns states that the marginal or addition satisfaction or utility derived from the consumption of a product increase until a pint and then starts to decrease.
Units Total utility Marginal utility
1 10 10
2 25 15
3 50 25
After 3 bottles, John does not show diminishing marginal utility as the marginal utility (as shown above) continues to increase with each additional bottle of coke consumed.
