Answer:
$700,000
Explanation:
As we know that
The income statement is the statement that records the income and the expenditure for a company
The expenses should be shown on debit side while the income or revenue is shown on the credit side
Since the total service revenue earned is $700,000 and the same is to be shown in the income statement as it records all the cash and credit sales or service revenue
Therefore, the total amount i.e $700,000 is reported on the income statement
Answer and Explanation:=
Medium of exchange - It is used to enable the sale and purchase between the parties. It represents the standard of value that is necessary to accept all the parties.
Larry writes a check for $4,000. It is a medium of exchange because it shows trade of goods between Larry and the car seller.
Unit of account - It gives permission to do the differentiation between two things.
Larry can easily differentiate the price of the super is more than the price of duper. It is unit of account because he knows the value of the super and duper.
Store of value - It is the value that can be saved and exchanged for a long time period.
Larry has saved checking amount is $4000. It is store of value because it is saved amount.
Answer:
Rent assigned to preparation and setup cost pool is $714.84
Explanation:
Preparation and setup takes 1,500 square feet out of the total 6,400 square feet available,hence the factory rent assigned to preparation and setup from the total rent of $3,050 i calculated thus:
Preparation and setup assigned rent=total rent/total square feet*preparation and setup square feet
=$3050/6400*1500
=$714.84
That represents the rent amount attributable to preparation and setup cost pool on monthly basis
Answer:
e textbooks due to the fact internet and technological processes tend to be our motif
Explanation:
