Answer:
The necessary entries would be:
Dr Accounts receivable $11,000
Cr Sales revenue $10,000
Cr Deferred revenue $,1000
Explanation:
Revenue should be recognized in the books of account where the selling party has performed its obligation of delivering goods or rendering services as contained in the sales contract.
This contract contains provision of goods -inventory that have been delivered and rendering of services-installation that is in progress, as a result the revenue relating to the former is due to be recognized now while the later would be recognized when is installation is concluded.
Do you mean Sabrina Carpenter? If so, this is an actor/singer.
Answer:
Explanation:
A bank examiner is highly trained professional who has the mandate of making sure that financial transactions in a bank, such as issuance of loans and savings are carried out legally and in accordance to the laws and regulations of the government. He/she has a duty of checking whether the bank has complied with consumer protection laws to ensure the welfare of their customers. With these responsibilities, the examiner needs to be proficient with these laws , procedures and regulations
Answer: Rework the phones
Explanation:
The phones have already been produced so the cost price of $70 does not matter as it is a sunk cost.
The decision the company makes between scrap and reworking will depend on which option bring in more money.
Scrap = $39
Reworking:
= Price after reworking - Cost to rework
= 146 - 82
= $64
Incremental income of reworking over scrap:
= 1,075 * (64 - 39)
= $26,875
<em>Signal makes an incremental income of $26,875 if they rework the phones so they should do that. </em>