Producers
<span>hope this helps!!!</span>
Answer:
b. it does not reflect the equity method.
Explanation:
If the beginning retained earnings do not match with the equity method we must adjusted. If we do not; then after including the other transactions which are based on equity method will lead to a mistaken ending retained earnings and thus; the consolidated balance sheet will not match Assets with liabilities plus stockolders equity.
Answer:
The answer is D. $3,750
Explanation:
This is an unearned revenue because the fee covers a service that will be rendered for a period of 12months(a year).
Unearned revenue is categorized as a liability because the customer has not fully exercised all its services/benefits.
So as this magazine is delivered monthly, this unearned subscription revenue decreases and revenue increases.
To calculate what will be earned monthly:
$15,000/12months
=$1,250.
So For January - $1,250
February- $1,250
March -. $1,250
So for the first quarter(January to March), $3,750 will be recognized as revenue while the unearned subscription revenue decrease by $3,750.
Alternatively, since 3 months make a quarter and we have 4 quarters in a year, it can be calculated as:
$15,000/4
$3,750.
Therefore, subscription revenue of $3,750 will be recognized every quarter.
The ethics trap that is faced here would be contemplating to accept the reallocation because rejecting it may mean trouble and even lead to a lose of our jobs.
<h3>What is meant by ethical trap?</h3>
This is the term that has to do with the circumstances that may lead an individual to do away with the core values and the principles that they have. The trap here is that I may lose my job or may not have any bonus but accepting is going against the ethics and the values that I may hold special.
What should have been in this situation would have been to come clean in the first place so as to avoid going against ethics and the principles of the profession. The best way to do this would be to go to the head of division and explain the situation at hand to him.
Hence we can say that The ethics trap that is faced here would be contemplating to accept the reallocation because rejecting it may mean trouble and even lead to a lose of our jobs.
Read more on ethics here:
brainly.com/question/13969108
#SPJ1
Answer:
$330,000
Explanation:
the journal entries would be:
Dr Cash 200,000
Cr Notes payable - bank 200,000
Dr Equipment 80,000
Cr Cash 40,000
Cr Notes payable 40,000
Dr Merchandie inventory 60,000
Cr Accounts payable 60,000
Dr Accounts receivable 120,000
Cr Service revenue 120,000
Dr Accounts payable 30,000
Cr Cash 30,000
Dr Utilities expense 60,000
Cr Cash 60,000
Assets:
- Cash = 200,000 - 40,000 - 60,000 - 30,000 = $70,000
- Equipment = $80,000
- Merchandise inventory = $60,000
- Accounts receivable =$120,000
- total = $330,000
