Answer: a. At the end of Year One, the company's liabilities are understated.
Explanation:
Under the Accrual basis of Accounting, revenue should be recorded for only jobs that have been completed. In other words, only earned revenue should be recorded. Revenue that has not been earned but yet received, is to be termed Deferred revenue and should be treated as a current liability.
In this scenario, there are steps that have not been completed so some of the revenue received should be termed deferred revenue. These should therefore be in current liabilities and because they were not, the liabilities for the end of year 1 will be understated.
Answer:
9 pizzas
Explanation:
Given that:
A pizza is ordered frozen from a local pizza establishment and baked at the cafeteria.
Judith anticipates a weekly demand of 10 pizzas.
Opening weeks in a year = 45 weeks
Opening days in a week = 5 days
Daily demand = 10/5 = 2
Ordering cost = $15
Holding cost = $0.40 /pizza/year
Lead time = 4 days
Safety stock = 1 pizza
The objective is to determine the optimal reorder point.
The optimal reorder point = (daily demand × lead time) + safety stock
The optimal reorder point =( 2 × 4 ) + 1
The optimal reorder point = 8 + 1
The optimal reorder point = 9 pizzas
<span>Using Word, Powerpoint, or any other program that allows you to
create diagrams, create an electronic, visual diagram of the US banking
system and the Federal Reserve System.
Include special financial services of the banking system in your
diagram. Be creative in this activity. Pretend you have been asked to
teach the structure and interrelationships of the systems to someone
else.</span>
What I have to far:
Line 1: Federal Reserve
Line 2: Board of Governors and Open Market Committee
Line 3: Reserve Banks
Line 4: Member Banks & Other Depository Institutes
After that I have to categorize the following and here’s the way I have it so far
Commercial Banks = member bank
Savings institutions = other depository
Mutual savings banks = ?
Credit Unions = member bank
Nondeposit Institutions = ?
hope this helps