Answer:
Service revenue of $ 440
Explanation:
When the customer prepays, the revenue is yet to be earned hence the entries required would be a debit to cash account and a credit to unearned or deferred revenue.
As the service is rendered and revenue is earned, debit the deferred revenue account and credit the revenue account with the amount earned.
Since $660 was collected for 6 training sessions
Revenue from a training session
= 1/6 × $660
= $110
After 4 training sessions, revenue earned and to be recognized in the income statement
= 4 × $110
= $440
Answer:
You should add an identical hard drive, and configure a RAID-0 volume.
Explanation:
Answer:
An implied agreement is based on a formal agreement.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implied contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
Simply stated, mutual assent connotes agreement, acceptance and consent to a contract by both parties.
An implied contract can be defined as an informal contract that exists based on an assumption or understanding between two or more parties, rather than on terms that are formally and specifically defined.
This ultimately implies that, an implied agreement is not based on a formal agreement but on assumptions or understanding between the parties involved.
Answer:
Explanation:
Present Value Years Interest Rate Future Value
PV n r FV
1. $10,681 10 6% $19,128
2. $35,157 2 11% $43,317
3. $129,107 14 14% $808,382
4. $65,293 19 13% $665,816
Present value of future cash flow will be calculated by using discount formula which is as follow:
PV = FV / ( 1 + r ) ^n
1. PV = $19,128 / ( 1 + 0.06 )^10 = $10,681
2. PV = $43,317 / ( 1 + 0.11 )^2 = $35,157
3. PV = $808,382 / ( 1 + 0.14 ) ^14 = $129,107
4. PV = $665,816 / ( 1 + 0.13 ) ^19 = $65,293
