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Furkat [3]
3 years ago
6

On March 1, 2020, the Teal Company received a $45,000 payment for annual magazine subscriptions (the subscriptions run from the

March, 2020 edition through the February 2021 edition). Upon receipt of the payment, Teal Company credited the amount to sales revenue. Provide any entries necessary to correctly state sales revenue on the 2020 income statement. Show your computation.
Business
1 answer:
bulgar [2K]3 years ago
5 0

Answer:

The company has incorrectly credited the sales revenue account at the time of the receipt of payment. So, the  journal entry to record the transaction is as follows:

Date               Particulars                            Debit          Credit

March 1, 20    Sales Revenue A/c           $45,000

                             To Unearned Sales Revenue A/c   $45,000

                       (To record Unearned sales revenue)

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Artemon [7]

Answer:

A. $170,900

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C. $ 19,800

Explanation:

A. Accounting Equation ;

Assets = Equity + Liabilities

Therefore  Equity = Assets - Liabilities

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B. Net working​ capital = Current Assets - Current liabilities

                                 =  $ 48,800​ - $ 28,500​

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C. Net working​ capital = Current Assets - Current liabilities

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                                     = $ 19,800

7 0
4 years ago
What process metric is needed by a plant manager who wants to know how long it takes to manufacture a single unit of a product
Svet_ta [14]

Flow time is the time or process needed by a plant manager who wants to know how long it takes to manufacture a single unit of a product

<h3>What is Flow time?</h3>

Flow time is the amount or quantity of duration or time a flow unit use all through a business process from beginning to end, it is also called the total processing time. If there is more than a path all through the process, the flow time is equal to the length of the longest path.

To calculate the flow time;

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Learn more on flow time from the link below.

brainly.com/question/15492134

6 0
3 years ago
The fact that one department may be labor intensive while another department is machine intensive explains in part why multiple
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Answer:

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Answer:

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​It's widely believed that​ self-driving vehicles will become commonplace in the fairly near future and that their growth will b
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