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Slav-nsk [51]
3 years ago
7

Pool Perfection provided pool maintenance services worth $1,600 during July; in June, the customers had paid in advance for thes

e services. During July, the company performed $1,000 of pool maintenance services, and in August, collected payment from those customers. Also, during July, the company accepted an order to perform $500 of pool maintenance services in August; the customers will pay for these services during August. The company uses accrual basis accounting. The Service Revenue account should be credited for:
Business
1 answer:
arlik [135]3 years ago
7 0

Answer:

$1,600

Explanation:

It is important to note that the company uses accrual basis accounting. The Service Revenue account should be credited for $1,600

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If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $11,000 t
Stells [14]

Answer:

110

Explanation:

The computation of the price index is presented below:  

= (Cost of purchase those identical goods in 2015) ÷ (Cost to purchase the items in 2014) × 100

= ($11,000) ÷ ($10,000) × 100

= ($11,000) ÷ ($10,000) × 100

= 110

We simply applied the above formula so that the price index could come by considering the cost of 2014 and cost of 2015

5 0
3 years ago
You have responsibility for economic policy in the country of Freedonia. Recently, the neighboring country of Sylvania has cut o
Yakvenalex [24]

Answer:

C. zeppo

Explanation:

3 0
3 years ago
Imagine you live on the planet Krypton. The loanable funds market on Krypton is thriving and life is good. However, the planet i
sergij07 [2.7K]

Answer: fall; decrease

Explanation:

People save in order to be able to consume in future. If it is discovered that there will be no fixture, there would be no need to save. The supply of loanable funds would therefore decrease as people stopped saving.

Because there is reduced loanable funds, less investments would be done as these require loanable funds. With less investments being done, the economic output will decrease.

5 0
2 years ago
Total 17500 shirts are produced and sold. The selling price is $22, variable cost per unit is $18 and fixed cost is $ 80000. If
scoray [572]

Answer:

please mark me as brainlist please

Explanation:

The basic theory illustrated in (Figure) is that, because of the existence of fixed costs in most production processes, in the first stages of production and subsequent sale of the products, the company will realize a loss. For example, assume that in an extreme case the company has fixed costs of ?20,000, a sales price of ?400 per unit and variable costs of ?250 per unit, and it sells no units. It would realize a loss of ?20,000 (the fixed costs) since it recognized no revenue or variable costs. This loss explains why the company’s cost graph recognized costs (in this example, ?20,000) even though there were no sales. If it subsequently sells units, the loss would be reduced by ?150 (the contribution margin) for each unit sold. This relationship will be continued until we reach the break-even point, where total revenue equals total costs. Once we reach the break-even point for each unit sold the company will realize an increase in profits of ?150.

For each additional unit sold, the loss typically is lessened until it reaches the break-even point. At this stage, the company is theoretically realizing neither a profit nor a loss. After the next sale beyond the break-even point, the company will begin to make a profit, and the profit will continue to increase as more units are sold. While there are exceptions and complications that could be incorporated, these are the general guidelines for break-even analysis.

As you can imagine, the concept of the break-even point applies to every business endeavor—manufacturing, retail, and service. Because of its universal applicability, it is a critical concept to managers, business owners, and accountants. When a company first starts out, it is important for the owners to know when their sales will be sufficient

7 0
2 years ago
Use below information to prepare general journal entries for Belle Co.'s 1 through 7 transactions.
antoniya [11.8K]

Answer:

Belle Co.

General Journal Entries

1. Debit Cash $6,000

Debit Equipment $7,600

Debit Web Servers $12,000

Credit Common Stock $25,600

To record the assets exchanged for common stock by D. Belle.

2. Debit Prepaid Insurance $4,800

Credit Cash $4,800

To record the prepayment of insurance coverage.

3. Debit Supplies $900

Credit Accounts Payable $900

To record the purchase of supplies on account.

4. Debit Selling Expenses $800

Credit Cash $800

To record the payment of selling expenses for cash.

5. Debit Cash $4,500

Credit Service Revenue $4,500

To record the receipt of cash for services rendered.

6. Debit Accounts Payable $900

Credit Cash $900

To record the payment on account.

7. Debit Equipment $3,400

Credit Cash $3,400

To record the payment for the purchase of equipment.

Explanation:

a) Data and Transaction Analysis:

1. Cash $6,000 Equipment $7,600 Web Servers $12,000 Common Stock $25,600

2. Prepaid Insurance $4,800 Cash $4,800

3. Supplies $900 Accounts Payable $900

4. Selling Expenses $800 Cash $800

5. Cash $4,500 Service Revenue $4,500

6. Accounts Payable $900 Cash $900

7. Equipment $3,400 Cash $3,400

4 0
3 years ago
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