Answer:
The net income is $39,060
Explanation:
The computation of the net income is shown below:
As we know that
net income = Sales revenue - expenses
where,
Sales revenue is
= Camping fees revenues + general store revenues
= $139,400 + $30,600
= 170,000
And, the expenses is $130,940
So, the net income is
= $170,000 - $130,940
= $39,060
hence, the net income is $39,060
The type of account that is typically the most liquid is the one that could be easily converted into Cash within short period of time. Such as : Checking Account. In order to turn Checking account into cash, you just have to bring it to the bank
20 pages in one night times 3 nights = 60. 60 pages times 3 problems per page is 180 problems.
20*3=60
60*3=180
Answer:
O $ 900,000
Explanation:
When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are
Debit Cash account and Credit Unearned fees or deferred revenue.
As the service is performed and the revenue is earned, debit Unearned fees and credit revenue.
Given that
- the specialized directory that is published semiannually and shipped to subscribers on April 15 and October 15 and
- Subscriptions received after the March 31 and September 30 cutoff dates are held for the next publication and
- Cash from subscribers is received evenly during the year and is credited to deferred subscription revenue
The amount to be deferred is the sum of the amounts collected after September 30 (from October to December year 2
= 3/12 * $3,600,000
= $900,000