Explanation:
The journal entry is shown below:
Unearned rent revenue Dr $1,250
To Rent revenue $1,250
(Being the unearned rent revenue is recorded)
The computation is shown below:
= Received amount ÷ number of months × given number of months
= $5,000 ÷ 2 months × 0.5 months
= $1,250
So it include a debit to unearned rent revenue for $1,250 and credit the rent revenue for $1,250
Answer:
0.24
Explanation:
PLT restaurant sold 2500 lunch boxes for $10 last month
This month they sold increase price by $5 and sold 2,200 boxes
The first step is to calculate the percentage change in quantity
= 2500-2000/2500 × 100
= 300/2500 × 100
= 0.12 × 100
= 12%
The percentage change in price can be calculated as follows
= 10-5/10 × 100
= 5/10 × 100
= 0.5 × 100
= 50%
Therefore the price elasticity of demand can be calculated as follows
= 12%/50%
= 0.24
Answer:
a. must apply for a patent within one year of selling the product commercially.
Explanation:
As the product is the novel and also useful at the same time so he himself wants to try for the commercial purpose for reaping the benefits and the same should be used for a patent within one year for selling the product commercially manner
So as per the given situation, the option a is correct
And, the rest of the options seems incorrect
Answer: Contingency
Explanation: In simple words, contingency refers to the event that may or may not happen in the future and depends on certain circumstances.
These are usually the misshapen or potential threats that the organisation may face in the future, so the management tries to make advance funds and report for contingent liabilities so they can tackle the problem effectively.
In the given case, Hawley corporation reported liabilities in their balance sheet for the events that may or may not occur in the future. Hence we can conclude that they reported contingency.