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garik1379 [7]
3 years ago
9

Magazine sells subscriptions for $60 for 30 issues. The company collects cash in advance and then mails out the magazines to sub

scribers each month. Apply the revenue recognition principle to determine a. when Seacoast Magazine should record revenue for this situation. b. the amount of revenue Seacoast Magazine should record for five issues.
Business
1 answer:
shutvik [7]3 years ago
7 0

Answer:

a. Revenue is earned when when service or product are delivered to client. Thus Seacoast Magazine should recognize the revenue when it mails the magazines to its subscribers.

b. Total amount received is $60 for 30 issues.

Amount for 1 issues = Total cost / Number of issues of magazines = $60/30 = $2 per issue

Amount of 5 issues = $2 * 5 = $10

Therefore, Seacoast Magazine should record revenue $10 for 5 issues.

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Montano1993 [528]

Answer:

a) true

Explanation:

The Enterprise resource planning system is a single database that helps to collect data and feed into applications with a motive to support the various business activities like - purchases, production, distribution, sales, marketing, finance, human resource, information technology, etc

The aim of this system is to conduct each and every business activity in an effective and efficient manner so that each one can share the database so that tracking could be done that helps to reduce the time and cost.

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8 0
3 years ago
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Tasya [4]
Your answer is 2730!!!!!!
6 0
3 years ago
A tax of €1.00 per litre on petrol
Anni [7]

Answer:

The correct answer is option a.

Explanation:

If a tax worth €1.00 per liter on petrol is imposed it will create a tax wedge of €1.00 between the price the buyers pay and the price the sellers receive.

A tax wedge can be defined as the deviation from the equilibrium price and equilibrium quantity due to the imposition of taxes.

When a tax is imposed on a product, the consumer and producer both have to share the tax burden. The price paid by the consumers increases and the price received by gets reduced.

The quantity of product gets reduced as well.

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4 years ago
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andre [41]
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