Answer:
$320,000
Explanation:
Since the season starts in January and lasts until June, by April 30 the balance of the deferred revenue (or unearned revenue account) would be = $960,000 - {($960,000 / 6) x 4} = $960,000 - $640,000 = $320,000
The journal entries should be:
Accumulated tickets until December 31
Dr Cash 960,000
Cr Deferred (Unearned) revenue 960,000
By April 30th, the adjusting entry should be:
Dr Deferred (Unearned) revenue 640,000
Cr Ticket revenue 640,000
The next step in the purchase process will be to identify and determine the potential suppliers.
<h3>What is a purchase process?</h3>
It should be noted that that purchasing process simply has to do with the buying of goods and services.
In this case, in the purchase process, once the company's needs have been identified and product specifications have been outlined, the next step would be to identify and determine the potential suppliers.
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Fha's role in the real estate mortgage market is best described as an insurance company.
Insurance companies check the risk and price premiums for various sorts of insurance coverage. If an insured event takes place and also you go through damages, the coverage organization can pay you as much as the agreed amount of the insurance policy. The manner insurance companies work, they are able to pay this and nonetheless make an income.
The time period coverage company way a corporation whose number one and predominant enterprise activity at some point of the taxable yr is the issuing of coverage or annuity contracts or the reinsuring of dangers underwritten by means of insurance companies.
Insurance coverage can be furnished for scientific fees, car harm, belongings loss/damage, etc. relying on the type of insurance. premium, policy restrictions, and deductibles are the principal components of coverage insurance coverage. The policy consumer must take a look at them thoroughly whilst buying an insurance policy.
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Answer:
a) $2498.6
b) No
Explanation:
Given that:
Deductible = $850
Medical cost for treatment = $9,093
Policy deductible percentage = 80% = 0.8
a)
Coinsurance = (Medical cost for treatment - deductible) x (1 - policy deductible percentage)
Substituting values:
Coinsurance = ($9093 - $850) x (1 - 0.8) = $8243 x 0.2 = $1648.6
The total amount Becky would pay under the current policy = Deductible + Coinsurance = $850 + $1648.6 = $2498.6
b) No, since beck paid $2498.6 instead of a policy of $4000, she saved $1501.4 (i.e $4000 - $2498.6)
Answer:
$294,000
Explanation:
The computation of the cost of units transferred out of the department would be shown below:
= Opening work in process + cost added to the production - ending work in process
= $24,000 + $283,000 - $13,000
= $294,000
