1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
disa [49]
3 years ago
9

When converting from cash-basis to accrual-basis accounting, which of the following adjustments should be made to cash receipts

from customers to determine accrual-basis service revenue? (A) Subtract ending accounts receivable. (B) Subtract beginning unearned service revenue. (C) Add ending accounts receivable. (D) Add cash sales.
Business
1 answer:
klemol [59]3 years ago
6 0

Answer: (B) Subtract beginning unearned service revenue.

Explanation: The difference between cash-basis and accrual-basis accounting is the timing of when revenue and expenses are recognised. While cash-basis accounting recognises revenue when actual cash is received or when cash is paid for expenses, accrual-basis accounting recognises revenue when it is earned and when expenses are incurred.

To treat cash receipt from customers on service revenue using accrual-basis accounting, the cash receipt would be warehoused in unearned service revenue account, when the service is rendered or depending on the timing of the service (how long the service takes), the unearned service revenue would be unwound to revenue.

You might be interested in
Una empresa con fecha 01/05 tiene unas existencias iniciales de 100 unidas de productos a un precio de 5€/ud. Realiza una compra
laila [671]

Answer:

FIFO 480 euros

LIFO 400 euros

PMP 460 euros

Explanation:

Unidades disponibles:

100 existencia inicial

300 compra

FIFO

Primero se venden las unidades de existencia inicial y luego las de la compra:

100 existencia inicial y 220 de la compra.

Inventario final: 80 unidades a 6 euros cada una = 480 euros

LIFO se vende primero la compra:

300 de compra y 20 de existencia inicial

Inventario final 80 unidades a 5 euros cada una = 400 euros

Costo Promedio Ponderado:

100 unidades a 5 + 300 a 6 = 500 + 1800 = 2300 euros

400 unidades costaron 2300 euros

en promedio: 2300 / 400 = 5.75

inventario final 80 unidades a 5.75 = 460 euros

5 0
3 years ago
what are examples of government legislation designed to protect the consumer? (choose every correct answer.)
Elanso [62]

Some examples of government legislation in the united states which is aimed at protecting consumers include the following.

  • Federal Food, Drug, and Cosmetic Act,
  • Fair Debt Collection Practices Act
  • the Fair Credit Reporting Act
  • Truth in Lending Act
  • Fair Credit Billing Act
  • The Gramm–Leach–Bliley Act
<h3 /><h3>How does Government protect Consumers?</h3>

Government provide legislation which helps in protecting consumers and their right.

 

 These legislation ensures that producers and manufacturers do not exploit the consumers for lack of options.

 The government does this by enacting laws that guarantees consumer protection thereby regulating the excesses in the market.

Learn more about consumer rights at brainly.com/question/27317480

#SPJ12

7 0
2 years ago
What is a typical relationship between time and interest rate
Misha Larkins [42]
Typically there is a correlation as time passes, interest rates go up. That is great for investments but not so good for debt.
7 0
4 years ago
Read 2 more answers
A company purchased $60,000 of 5% bonds on May 1 at par value. The bonds pay interest on March 1 and September 1. The amount of
Readme [11.4K]

Answer:

The interest accrued is $2,500.

Explanation:

The income accrued will arise after the date of purchase (May 1) of the bonds to the ending date of the accounting period (December 31). This duration is equal to 8 months.`

For the first four months (May 1 to September 1) the income accrued will be the income received semiannually for these four month:

Income Accrued = $60,000 * 6/12 * 5% = $1,500 Because the payment that will be received will be $1000 which belongs to 6 months starting from March 1 and ending at September 1.

And for the remainder 4 months (September 1 to December 31)

Income Accrued = $60,000 * 4/12 * 5% = $1,000

So the total income accrued for the year will be $2,500

4 0
3 years ago
What are some ways that a company can link its sales promotion activities to its advertising and personal selling efforts..so th
Andreyy89
The increase in sales of a company can be attributed to the sales promotion activities in way that the better they are at promoting their products, the better is their chances of actually selling them. They can do "best employer of the month" to relate the personal selling effort by an employee in relation to the sales of the company. 
7 0
3 years ago
Other questions:
  • The rest of the world sees problems; Martin sees opportunity. He made money in real estate and lost it when the recession hit. B
    13·1 answer
  • As a judge in France, Maurice is not allowed to interpret the law but relies on a strict set of codes to determine the outcome o
    7·1 answer
  • The following transactions pertain to year 1, the first-year operations of Solomon Company. All inventory was started and comple
    10·1 answer
  • Using the LIFO method of inventory valuation will always produce the same results for cost of goods sold and ending inventory wh
    11·1 answer
  • A computer software program that is developed for preparing graphs of sales performance (in terms of the number of units sold) o
    7·1 answer
  • Q 6.30: Rollins Technology is determining ending inventory. In the inventory process, Rollins inadvertently miscategorized a $9,
    14·1 answer
  • The transfer price which uses a variety of cost concepts is the: negotiated price approach standard cost approach cost price app
    12·1 answer
  • Sound Audio manufactures and sells audio equipment for automobiles. Engineers notified management in December 2021 of a circuit
    9·1 answer
  • A. How does capacity utilization affect the intensity of internal rivalry in the commercial airline industry?
    9·1 answer
  • When executives of a firm consider business opportunities only where they can leverage their existing competencies and resources
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!