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3 years ago

During a trough: production is high. production is low. inflation is low. unemployment is low.

Business

1 answer:

Burka [1]3 years ago

7 0

Answer:

The trough is the bottom of the recession period, unemployment is at its highest, inflation is low. ... expansion (recovery) is when output is increasing, unemployment begins to fall and later inflation begins to rise.

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The accounts of Melissa Manufacturing showed the following balances at the beginning of December: Account Debit Raw Materials I

Rudik [331]

Answer:

$115,000

Explanation:

Data provided as per the question is below:-

Beginning balance = $81,000

Direct material issued = $27,000

Direct labor incurred = $7,000

The computation balance Process Inventory is shown below:-

Balance in the Work-in-Process Inventory = Beginning balance + Direct material issued + Direct labor incurred

= $81,000 + $27,000 + $7,000

= $115,000

4 0

2 years ago

Accounting professionals can perform various services that provide assurance about the and of information given by one party to

Burka [1]

Answer:

It is true

Explanation:

Chartered Accountants most especially external auditors are trained to provide assurance services that will give credit and reliability to the financial information being presented to the users by the directors.

Their services include statutory audit and other related assurance services.

The report produced by a Chartered Accountant (e.g External Auditor) gives reasonable assurance to the shareholders of the company or any other external users.

8 0

2 years ago

If you know the company that you want to work for, you should check theon the company’s website as you perform your job search.

Alex73 [517]

well... this is a statment not a question so it doesnt really make snce but yes you should research the company

3 0

3 years ago

Inez has a specific set of plans to build a sailboat. the plans are detailed in nature, and any boat builder can build the boat.

navik [9.2K]

<span>Inez is still obligated to accept delivery of the boat because it is still the boat that she contracted out and built to the specifications that she requested. Just because it was contracted out to another company doesn't mean that she didn't get what she wanted for the price she wanted. If she didn't have a specific design then she might have an argument, however she did and it was built to that design specs.</span>

7 0

2 years ago

Revenues are normally recognized when the company transfers promised goods or services in the amount the company expects to be e

iren [92.7K]

Answer:

A. None

B. Interest revenue $1,500

C. Sales revenue $32,000

D. None

E. Sales revenue $16,000

F. None

G. None

H. None

I. None

J. Revenue tickets sales $10,000,000

K. None

L. $96,000

M. 300

Explanation:

Indication for the revenue account title and amount for each transaction

a. Since we were told that Subscription will begins in next fiscal this means that Revenue amount will be earned when subscription begins in the next fiscal year.

b. Annual interest = $1,500

Interest revenue earned in September = 1,500 / 12

Interest revenue earned in September = $125

c. Based on the information given the amount of Revenue to be recognized for cash equivalent sales value will be $32,000

d. Since we were told that PVH has just received the order in the month of September this means that no revenue can be recognized.

e. Revenue to be recognized = 1,000 * $16

Revenue to be recognized = $16,000

f. Bssed on the information given the revenue amount has already been recognized when the order made is satisfied.

g. Based on the information given the payment that was made is for travel in January which means that revenue is to be recognized only when travel takes place. Hence, No revenue will be recognized in September.

h. Based on the information given the Issue of common stock will not be a sales transaction.

i. Based on the information given the amount of Cash received in the month of September is Únearned revenue reason been that revenue will be recognized l when football game is been played.

j. Based on the information given out of 7 games, first game is played, which means that the Revenue amount to be recognized will be :

Revenue= 70,000,000/ 7

Revenue = $10,000,000

k. Based on the information advance amount for future construction was received which is 'Unearned Revenue' therefore No revenue is earned yet.

l. Since It is sales on account the evenue to be recognized will be the amount of $96,000

m. Revenue to be recognized will be the amount of $300 because payment was made through credit card

Therefore the summary of Revenue account affected and Amount of Revenue earned in September is :

Revenue account affected; Amount of Revenue earned in September

A. None

B. Interest revenue $1,500

C. Sales revenue $32,000

D. None

E. Sales revenue $16,000

F. None

G. None

H. None

I. None

J. Revenue tickets sales $10,000,000

K. None

L. $96,000

M. 300

6 0

3 years ago