Answer:
Cash basis OF accounting method $701,600
Accrual basis of accounting method$726,500
Explanation:
Computation of Al's gross income for 2020 using cash basis of accounting method
Gross income
Cash $687,600
Add advance payment $14,000
Total $701,600
Therefore Al's gross income using cash basis of accounting method will be $701,600
Computation of Al's gross income for 2020 using accrual basis of accounting method
Cash received $701,600
($687,600+$14,000)
Less: Income received but will not be earned until 2021 ($14,000)
Less: Beginning of year accounts receivable ($57,600)
Add End of year accounts receivable $96,500
$300,000
Total $726,500
Therefore Al's gross income using accrual basis of accounting method will be $726,500
Answer:
TRUE
Explanation:
The Z value determinates the level of service at a normalize distribution of (0;1) We then convert this value to the deviation of our distribution by multiplying each other.
The Z value represent the the value at which a 99% or 95% or whatever percent of change of safety is achieve. We convert by our deviation to adapt the normalize distribution of (1;0) to our values.
There is always a chance for stock-out as we work with probabilities and at more higher safety level we require more units to make up for the change of a single customer from nowhere purchase an unexpected amount. As this person can appear anytime and purchase any amount there is always a level of uncertain (5% or 1% or less)
Answer:
A project constrait is like a limitation or risk in a project. For example, a time constrait. It is a limitation of a project because you have a specific time to finish it. Or any other cons in a project.
Explanation:
Answer:
See explanation section
Explanation:
1. Debit Cash $17,000
Credit Service revenue (music) $17,000
<em>Note: The academy receives cash by providing music services to the students.</em>
2. Debit Prepaid Insurance $4,200
Credit Cash $4,200
<em>Note: The academy paid cash in advance to purchase insurance policy.</em>
3. Debit Musical Equipment $20,000
Credit Cash $20,000
<em>Note: The academy paid cash for acquiring musical equipment.</em>
4. Debit Cash $30,000
Credit Notes payable $30,000
<em>Note: The academy borrowed cash by signing a notes from the bank.</em>
