Answer: $1760
Explanation:
If the company uses accrual basis accounting, the net income will be calculated as:
Cash received for lessons = $1,350
Add: Lessons provided on account = $1,060
Less: Rental bill for may = $(650)
Net income = $1350 + $1060 - $650
= $1760
The net income is $1760
In a direct financing lease, the lessor's primary involvement in the lease is providing financing in exchange for Interest revenue
Interest revenue represents how much interest a company earned during a specific time period. This is interest earnings on any investments the business has or debts it has provided to an individual or other entity. Interest revenue appears on a company's income statement, so whatever the time period is on the income statement is the same period of time that the interest revenue is calculated from.
Both interest revenue and interest receivable amounts are the amount of interest a company has earned through certain transactions, partnerships and business dealings, but there are small differences between the two that can affect a company's balance sheets. You can consider any interest income that a company has earned to be interest revenue, whether or not the business has received the income.
Comparatively, interest receivable only refers to the interest income that a company has yet to receive from the customer, client or debtor who owes it. Instead, it's the interest the business expects to receive. Most companies record its interest receivable as a current asset on its balance sheet if it expects to receive the interest payment within the year.
Learn more about interest revenue here
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Answer:
Decrease in equilibrium quantity
Increase in equilibrium price.
Explanation:
Because the demand is downward sloping, an increase in price will lead to decrease in quantity demanded and vice-versa.
Here, there is a decrease in supply with no change to demand, this will lead to scarcity of the product and very soon scarcity will drive the price of the product high and because the demand is downward sloping, quantity demanded will drop
So the situation in the question above will lead to a decrease in equilibrium quantity and an increase in equilibrium price.
Solution:
a. λ = 750
u = 1 card/4sec = 900 cards / hour
L(q) = 750^2 / 2*900(900-750) = 2.0833
L(s) = 2.0833+750/900 = 2.9166 W(s)
= 2.9166 /750 =0.003889
= 14.00 sec
In 14.00 sec would you expect the customer to wait in line, pay with the debit card, and leave
b. L(s) 2.9166 =3 cars (from the answer of question a)
3 cars would expect to see in the system.