Answer:
(a) $1,200
(b) $330
Explanation:
(a)
- The advance payment was issued in 2018, however the items throughout 2018 were not shipped.
- The products were distributed throughout 2019 as well as the transaction for accounting information requirements was announced throughout 2019.
Therefore, in 2019, $1200 would include gross revenue
(b)
<u>Service contract for 6 months will be:</u>
Drake would include gross income throughout 2019 of ($)and gross income throughout 2020 of $120. In October year 2019, because a corporation offered a 6-month contract, total sales in 2019 represented just a 3-month service agreement.
<u>Service contract for 36 months will be:</u>
- Throughout 2019 gross sales, Drake would include .The residual balance would not have been all conducted until the close including its tax year of collection since the contract became sold through 36 month.
- The residual amount of is thus used throughout gross sales for 2020.
Consequently,
⇒ Cumulative gross income used throughout 2019 = total earnings of 6 months service agreement + gross income of 36 months service agreement
⇒
⇒ ($)
Answer:
a) credit appropriations control
Explanation:
Ridge township's governing body adopted its general fund budget for the year ended July 31, year 1, composed of estimated revenues of $100,000 and appropriations of $80,000, ridge formally integrates its budget into the accounting records. to record the appropriations of $80,000, ridge should: credit appropriations control .
In government or public sector accounting which deals with the transaction recording of government agencies, the adoption of a budget is treated thus:
Dr. Estimated Revenues
Cr. Appropriations Control
Whatever variations in amount are then credited or debited to the fund balance
Answer:
Option B.
Statement B because demand and supply intersect; they do not exceed each other
Explanation:
This is because in statement A equilibrium is not attained as demand exceeds supply and supply may also exceed demand. In statement B, changes in supply and demand is causing changes in prices. Thus , new equilibrium will be attained and prices adjusting to attain equilibrium and remove excess demand or excess supply.
Answer:
(1) <em>Services</em> <em>are not separable.</em>
<em>(2) Services</em> <em>are intangible: they can only be felt</em>.
Explanation:
(1) <u>Services are not separable</u>
Services can't be separated from a person once they are felt. In this case Greer felt had a satisfactory experience of manicures several times which enabled her to have a judgment about the latest manicure service.
(2) <em><u>Services </u></em><u>are intangible: they can only be felt</u>
<em>Services</em> are intangible i.e. they can only be felt. The past fruitful experiences of Greer towards the manicure services and the current latest manicure service experience was only felt by her and not measured numerically. The experiences felt from the respective service offerings enabled her to make the decision about her latest services availed of manicure.
Answer:
Sunk cost
Explanation:
Sunk cost is cost that has already been incurred and cannot be recovered. It should not be considered when making future decisions
Differential cost refers is difference between the cost of two different decisions.
Replacement cost is a the cost incurred in replacing an essential asset.