The correct answer is True. When ownership of the items passes to the customer, revenue is realised. In addition to the requirements for determining when control transfers, a reporting entity must also satisfy certain additional requirements for a customer to have achieved control in a bill-and-hold arrangement.
A bill and hold sales arrangement allows for payment in advance of the item's delivery. This is a sales agreement when a product seller invoices a consumer up front but doesn't actually ship the thing until later.
In a bill and hold transaction, the vendor does not deliver the purchased goods to the customer, but the associated income is still recorded. Under this structure, revenue cannot be recognised until a number of severe requirements have been satisfied. The possibility of falsely recognising revenue too early exists otherwise.
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Answer:
Absolute reference
Explanation:
An absolute reference in excel indicates a reference that is locked such that rows and columns do not alter when copied to another cell in the excel sheet.
It points to an actual fixed location in excel and absolute referencing is simply by adding a dollar sign before the row and column.
In other words ,Ellen will absolutely reference her income ,as the income is the same month-on-month.
Answer:
The percentaje increase in sales is 10%
Explanation:
To calculate the percentage increase in sales from 2013 to 2014 yo need to calculate the differential in sales from year to year using 2013 as a base.
You need to use the following formula:
Sales differential: [(year1-year0)/year0]*100
In this exercise:
Sales differential= [(770-700)/700]*100=10%
2014 sales increased by 10% compared to 2013 sales.
Answer:
$924
Explanation:
The computation of the profit/loss is shown below:
= Sale - variable cost - fixed daily cost
where,
Sale = Selling price per room × Number of rooms sold
= $55 × 41 rooms
= $2,255
And, the variable cost would be
= Variable cost per room × Number of rooms sold
= $11 × 41 rooms
= $451
And, the fixed daily cost is $880
Now put these values to the above formula
So, the value would be equal to
= $2,255 - $451 - $880
= $924
Answer:
$110,300
Explanation:
June collections will comprise of
25% of June sales
71% of May sales
4% of April sales
<u>25% of June sales </u>
=25/100 x 100,000
=$25,000
<u>71% of may sales</u>
=71/100 x $110,00
=$78,100
<u>4% of April sales</u>
=4/100 x $180,000
=$7,200
Total June collections
=$25,000 + $78,100 +$7,200
=$110,300
