Answer:
Cost allocation
Explanation:
Cost allocation means the process where the identification, aggregation, and the allocating of the cost is made to the various cost objects. It plays an important role as the cost i.e. incurred for generating a particular product or rendering a service would be determined
So if the manufacturing overhead cost assigned and the other indirect cost so this we called cost allocation
Answer:
Unearned Service Contracts Revenue = $330,000
Explanation:
Unearned Service Contracts Revenue refers to the expected revenue from a contracts been carried and has yet been paid.
Unearned Service Contracts Revenue for 2010 = $100,000, for 2011 = $160,000 and for 2012 = $70,000
Unearned Service Contracts Revenue = $100,000 + $160,000 + $70,000
Unearned Service Contracts Revenue = $330,000
I believe it’s b..... hope this helps pls tell me if I’m wrong! <3
Answer: Option (a) is correct.
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded with change in the income level of an individual.
Income of an individual has a positive relationship with the demand for normal goods and has a negative relationship with the demand for inferior goods.
Answer and Explanation:
The journal entry is shown below:
Cash Dr $98,800
Finance charge Dr ($120,000 × 1%) $1,200
To Liability - Financing Arrangement $100,000
(being receipts of cash is recorded)
Here cash and finance charge is debited as it increased the assets and expenses and liability is credited as it also increased the liabilities. Also, the cash & expenses contains normal debit balance and liabilities contains normal credit balance
