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3 years ago

A product's price will increase the most if:

Business

1 answer:

Leya [2.2K]3 years ago

5 0

B. It's demand remains the same but its supply goes up.

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supermomog13

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On september 1, capitol maintenance company contracted to provide monthly maintenance services for the next nine months at a rat

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Upon receiving the $21,600 payment of the client, Capitol should recognize a deferred revenue. Deferred revenue is the receipt of compensation when the services are not yet rendered. Since they started on September 1, they have rendered four months of service to the client until December 31. The rate of their services is $2,400 per month. Therefore, they have earned $9,600 for the current year. This is the adjusting entry to recognize revenue for the year:

Deferred Revenue 9,600

Service Revenue 9,600

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3 years ago

On december 1, hansen co. Borrowed $100,000 cash from national bank by signing a 90-day, 6% interest-bearing note. On december 3

Lera25 [3.4K]

On March 1, the due date of the note, Hansen will record interest expense as a debit in the amount of $600.

Interest expense is the cost associated with borrowing money in the form of loans, bonds, and lines of credit. It is the amount paid to lenders for the use of their money and is typically reported as a line item on an income statement.

On March 1, Hansen will record interest expense as a debit in the amount of $600 ($100,000 x 6% x 90/360). The adjusting entry on December 31 was to record the interest accrued on the note between December 1 and December 31 ($100,000 x 6% x 30/360 = $500). Therefore, the interest payable on March 1 is the amount of the loan times the interest rate times the number of days outstanding ($100,000 x 6% x 90/360 = $600).

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1 year ago

Sarasota Company sells on credits goods that cost $310,000 to Ricard Company for $409,500 on January 2, 2020. The sales price in

swat32

Answer and Explanation:

The journal entries are shown below:

Account Receivable $409,500

To Sales Revenue $367,000

To Unearned Service Revenue $42,500

(Being account receivable is recorded)

Cost of Goods Sold $310,000

To Merchandised Inventory $310,000

(Being cost of goods sold is recorded)

These two journal entries are to be recorded

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3 years ago

Hisaoki picks up the local newspaper and reads a stinging letter to the editor criticizing his beverage company for supporting a

kiruha [24]

Answer: A. Identify issues.

Explanation: Hisaoki's company failed to identify issues, because they never considered problem might arise but it did arises.

In identifying issues one must be clear what the problem is and plan on how to solve them, analyzing the problem is important when identifying issues. This help you to be about the situation when there is problem.

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3 years ago

Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budge

tresset_1 [31]

Answer:

Cost of Goods Manufactured = $1,797,100

Explanation:

Cost of Goods Sold Budget

for the Month Ending June 30

Particulars Amount ($) Amount ($)

Finished Goods Inventory $14,300

Work in process inventory $9,600 $23,900

Direct Materials:

Direct materials inventory $11,500

Direct materials purchases $1,372,500

Less: Direct material inventory June 30 $(12,700)

Cost of Direct materials in use: $1,371,300

Direct labor $164,700

Factory Overhead $247,100

Total Manufacturing Cost $1,807,000

Total work in process during period

less: work in process inventory June 30 $(9,900)

Cost of goods manufactured $1,797,100

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3 years ago

Read 2 more answers