very urgent, i need this answered asap

Very Urgent, I Need This Answered Asap
Very Urgent, I Need This Answered Asap

Answers

Answer 1

Answer:

Yes they offer no fee but then they want payed for a small fee....... Aaaa business this days


Related Questions

what is the most important law after starting a business​

Answers

create a LLC or corporation

what are the consequences of bad netiquette​

Answers

Answer:

it can make people or students uncomfortable

student will feel irritation

students will feel embracement in front of many students

Explanation:

On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,824. Cash receipts yet to be deposited into the checking account total $3,218, and checks written by the academy but not yet processed by the bank total $1,305. The company's balance of cash does not reflect a bank service fee of $23 and interest earned on the checking account of $34. These amounts are included in the balance of cash of $5,922 reported by the bank as of the end of August. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2021. (Amounts to be deducted should

Answers

Answer:

1. Bank balance per reconciliation $7,835

Company balance per reconciliation $7,835

2. August 31, 2021

Dr Cash $34

Cr Interest revenue $34

August 31, 2021

Dr Service fees expense $23

Cr Cash $23

Explanation:

1. Preparation of a bank reconciliation to calculate the correct ending balance of cash on August 31, 2021 .

BANK CASH BALANCE

Per bank statement $5,922

Add deposit outstanding $3,218

Less check Outstanding ($1,305)

Bank balance per reconciliation $7,835

COMPANY CASH BALANCE

Per general ledger $7,824

Less service fees ($23)

Interest earned $34

Company balance per reconciliation $7,835

Therefore the correct ending balance of cash on August 31, 2021 will be :

Bank balance per reconciliation $7,835

Company balance per reconciliation $7,835

2.Preparation of the necessary entries to adjust the balance for cash

August 31, 2021

Dr Cash $34

Cr Interest revenue $34

August 31, 2021

Dr Service fees expense $23

Cr Cash $23

Tyler Financial Services performs bookkeeping and tax-reporting services to startup companies in the Oconomowoc area. On January 1, 2014, Tyler entered into a 3-year service contract with Walleye Tech. Walleye promises to pay $10,500 at the beginning of each year, which at contract inception is the standalone selling price for these services. At the end of the second year, the contract is modified and the fee for the third year of services is reduced to $9,800. In addition, Walleye agrees to pay an additional $20,600 at the beginning of the third year to cover the contract for 3 additional years (i.e., 4 years remain after the modification). The extended contract services are similar to those provided in the first 2 years of the contract.
1. Prepare the journal entries for Tyler in 2014 and 2015 related to this service contract. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit
Jan 1, 2014
Dec 31, 2014
Jan 1, 2015
Dec 31, 2015
2. Prepare the journal entries for Tyler in 2016 related to the modified service contract, assuming a prospective approach. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit
Jan 1, 2016
Dec 31, 206
3. Repeat the requirements for part (b), assuming Tyler and Walleye agree on a revised set of services (fewer bookkeeping services but more tax services) in the extended contract period and the modification results in a separate performance obligation. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit
Jan 1, 2016
Dec 31, 2016

Answers

Answer:

Tyler Financial Services

1. Journal Entries:

January 1, 2014:

Debit Cash $10,500

Unearned Service Revenue $10,500

To record cash collected for unearned services.

December 31, 2014:

Debit Unearned Service Revenue $10,500

Credit Service Revenue $10,500

To record the earned service revenue for the year.

January 1, 2015:

Debit Cash $10,500

Unearned Service Revenue $10,500

To record cash collected for unearned services.

December 31, 2015:

Debit Unearned Service Revenue $10,500

Credit Service Revenue $10,500

To record the earned service revenue for the year.

2. Journal Entries:

January 1, 2016:

Debit Cash $30,400

Unearned Service Revenue $30,400

To record cash collected for unearned services.

December 31, 2016:

Debit Unearned Service Revenue $9,800

Credit Service Revenue $9,800

To record the earned service revenue for the year.

Explanation:

a) Data and Calculations:

Annual contract fee = $10,500 in 2014 and 2015

Modified contract fee =  $9,800 in 2016

Additional fee from year 3 = $20,600 for 3 more years ($6,867 each year) from 2017 to 2019

b) Cash received ($30,400) on January 1, 2016 includes the $9,800 for 2016 and the $20,600 for the years 2017 to 2019.

Favaz began business at the start of this year and had the following costs: variable manufacturing cost per unit, $9; fixed manufacturing costs, $60,000; variable selling and administrative costs per unit, $2; and fixed selling and administrative costs, $220,000. The company sells its units for $45 each. Additional data follow: Planned production in units10,000 Actual production in units10,000 Number of units sold8,500 There were no variances. The income (loss) under absorption costing is:

Answers

Answer:

$18,000

Explanation:

Calculation for what The income (loss) under absorption costing is:

First step is to calculate the Fixed manufacturing

per unit

Fixed manufacturing per unit = $60,000 ÷ 10,000

Fixed manufacturing per unit= $6

Second step is to calculate per unit cost

Cost Per Unit=$45 − $9 − $2 − $6 ×$ 8,500

Cost Per Unit = $238,000

Now let calculate the income (loss)

Income (loss)= $238,000 − $220,000

Income (loss) = $18,000

Therefore The income (loss) under absorption costing is:$18,000

Round Hammer is comparing two different capital structures: An all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 180,000 shares of stock outstanding. Under Plan II, there would be 130,000 shares of stock outstanding and $1.925 million in debt outstanding. The interest rate on the debt is 8 percent, and there are no taxes. a. If EBIT is $400,000, what is the EPS for each plan

Answers

Answer:

Explanation:

Under Plan I, the EPS would be calculated as:

= EBIT / Shares of stock outstanding

= $400,000 / 180,000 shares

EPS = $2.22

Under Plan II, the EPS will be calculated as thus:

We should note that the EBIT in this case will be reduced by interest payment. This will be:

= $400000 - 8% (1.925 million)

= $400000 - 0.08($1,925,000)

= $400,000 - $154000

= $246,000

Then, the EPS for plan II will be calculated as:

EPS = $246,000 / 130,000 shares

EPS = $1.89

Jeremiah expressed his disdain for the economic reports he heard on the news. "All economists care about is increasing GDP," he said. "I wish economists cared about living conditions and well-being instead of just some economic indicator." How could you acknowledge the shortcomings of GDP to Jeremiah, while also showing him how GDP functions as both an economic indicator and a measure of well-being? While it is true that GDP calculations omit such things as and , it is still a useful way to measure .

Answers

Answer: the value as opposed to the price of an item; environmental degradation; total output and income.

Explanation:

While it is true that GDP calculations omit such things as the value as opposed to the price of an item and environmental degradation, it is still a useful way to measure total output and income.

Gross Domestic Product is a means of measuring economic performance over a given period(usually a year). It works by adding up the final value of the goods and services produced in a country in that given period and thus can show the total output and income in a country.

Sadly however, it has some shortcomings. One of those is that it uses the prices of goods not their actual value. Another is that it does not take into account important factors such as environmental degradation which if added, would reduce GDP because the environment on average suffers negatively from production.

Part II: Article II, Section I of the U.S. Constitution provides that the president must "take care that the laws be faithfully executed." Presidents have used this authority to issue executive orders, which are orders to federal agencies that are a part of the executive branch and which contain detailed instructions on how laws enacted by Congress should be carried out.

Presidents are not specifically given the power to issue executive orders by the U.S. Constitution. Is it appropriate for the president to exercise powers that the Constitution does not specifically grant to him or her? Why, or why not?

Answers

Answer: Yes it is.

Explanation:

The Constitution puts the President at the head of the Executive branch of government and provides that the President should ensure that the laws of the land are faithfully executed.

Seeing as executive orders are issued to members of the executive - which are under the President - and are done to ensure that the laws of the land are carried out, the President is not only following the Constitution's directives in  Article II, Section I of the Constitution but doing it within their power as head of the executive.

Executive orders are therefore an implied constitutional power that the President has.

Manufacturers of large equipment such as aircraft and ships and companies involved in road construction have jobs that may require two or more years for completion. For example, Boeing Corporation might have an order for 50 aircraft for a particular airline, and the order will extend over a three- to five-year period. Aircraft are delivered as completed, but not in a batch of 50 at one time. In the typical fashion, the overhead application rate must be calculated and applied in such a way that each aircraft that is delivered has the proper amount of overhead for that aircraft. Required: What unique difficulties do you see in the calculation and application of overhead in industries such as aircraft manufacturing or shipbuilding

Answers

Answer and Explanation:

The unique difficulty that faced by industries in terms of aircraft manufacturing or ship building that includes the measurement of the capciaty cost that would be distributed each year with respect to the job. The overhead would be distributed to the capacity spent. Also the company find to be difficult for tracking the actual capacity i.e. used in the production of a single aircraft or ship. In this case, the predetermined overhead rate would not be worked.

Match each item with the appropriate description.
- General Ledger System
- ERP
- Managerial Accounting
A. Includes both financial and non-financial information for all areas of the business.
B. Uses accounting information for external reporting.
C. Is a subset of the non-financial integrated accounting system.
D. Includes the accounting part of the integrated information system.
E. Uses accounting information for internal reporting.

Answers

Answer:

Matching items with the appropriate descriptions:

A. Includes both financial and non-financial information for all areas of the business.

ERP

B. Uses accounting information for external reporting.

General Ledger System

C. Is a subset of the non-financial integrated accounting system.

Managerial Accounting

D. Includes the accounting part of the integrated information system.

General Ledger System

E. Uses accounting information for internal reporting.  

Managerial Accounting

Explanation:

- General Ledger System.  This system is where the financial accounting records of debit and credit are kept and summarized.

- ERP: "Enterprise Resource Planning” is the consolidated system for gathering and organizing business data, both financial and non-financial.

- Managerial Accounting: This is where internal accounting data are gathered and analyzed.

The Campbell Company is considering adding a robotic paint sprayer to its production line. The sprayer's base price is $820,000, and it would cost another $17,500 to install it. The machine falls into the MACRS 3-year class, and it would be sold after 3 years for $604,000. The MACRS rates for the first three years are 0.3333, 0.4445, and 0.1481. The machine would require an increase in net working capital (inventory) of $15,500. The sprayer would not change revenues, but it is expected to save the firm $338,000 per year in before-tax operating costs, mainly labor. Campbell's marginal tax rate is 25%. (Ignore the half-year convention for the straight-line method.) Cash outflows, if any, should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to the nearest dollar.
a. What is the Year 0 net cash flow?
b. What are the net operating cash flows in Years 1, 2, 3?
c. What is the additional Year 3- cash flow (i.e. after tax salvage and the return of working capital)?
d. If the project's cost of capital is 12%, should the machine be purchased?

Answers

Answer:

a. What is the Year 0 net cash flow?

-$820,000 - $17,500 - $15,500 = -$853,000

b. What are the net operating cash flows in Years 1, 2, 3?

Operating cash flow year 1 = {[$338,000 - ($837,500 x 1/3)] x (1 - 25%)} + ($837,500 x 1/3) = $323,292

Operating cash flow year 2 = {[$338,000 - ($837,500 x 0.4445)] x (1 - 25%)} + ($837,500 x 0.4445) = $346,567

Operating cash flow year 3 = {[$338,000 - ($837,500 x 0.1481)] x (1 - 25%)} + ($837,500 x 0.1481) = $284,508

c. What is the additional Year 3- cash flow (i.e. after tax salvage and the return of working capital)?

= $62,031 + [($604,000 - $62,031) x 0.75] + $17,500 = $486,008

d. If the project's cost of capital is 12%, should the machine be purchased?

using a financial calculator, NPV = $260,373, so the project should be accepted

Transactions Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.

Transactions:
Oct. 1 Paid rent for the month, $2,800.
3 Paid advertising expense, $525.
5 Paid cash for supplies, $1,250.
6 Purchased office equipment on account, $9,300.
10 Received cash from customers on account, $16,600.
15 Paid creditors on account, $3,720.
27 Paid cash for miscellaneous expenses, $590.
30 Paid telephone bill (utility expense) for the month, $275.
31 Fees earned and billed to customers for the month, $50,160.
31 Paid electricity bill (utility expense) for the month, $830.
31 Withdrew cash for personal use, $1,700.

Journalize the following selected transactions for October 2019.

Answers

Answer:

Oct 1

Rent expense Dr. $2800

Cash Cr. $2800

(To record entry for payment of rent for month)

Oct 3

Advertising expenses Dr. $525

Cash Cr. $525

(To record entry for Advertising expenses)

Oct 5

Supplies Dr. $1250  

Cash Cr. $1250

(To record entry for purchase of supplies)

Oct 6

Office equipment Dr. $9300

Accounts Payable Cr. $9300

(To record purchase of office equipment on account)

Oct 10

Cash Dr. $16600

Accounts Receivable Cr. $16600

(To record cash received from customers on account)

Oct 15

Accounts payable Dr. $3720

Cash Cr. $3720

(To record payment made to creditors)

Oct 27

Miscellaneous expenses  Dr. $590

Cash Cr. $590

(To record repair expense of office equipment)

Oct 30

Telephone expense Dr. $275

Cash Cr. $275

(To record payment made for telephone bill)

Oct 31

Accounts receivables Dr. $50160

Service fees Cr. $50160

(To record fees earned )

Oct 31

Utility expense Dr.  $830  

Cash CR $830

(To record payment made for electricity bill)

Oct 31

Personal use Dr. $1700

Cash Cr. $1700

(To record payment of dividend)

Steinberg Company produces commercial printers. One is the regular model, a basic model that is designed to copy and print in black and white. Another model, the deluxe model, is a color printer-scanner-copier. For the coming year, Steinberg expects to sell 100,000 regular models and 20,000 deluxe models. A segmented income statement for the two products is as follows:

Regular Model Deluxe Model Total

Sales $12,000,000 $10,720,000 $22,720,000
Less: Variable costs 7,200,000 6,432,000 13,632,000
Contribution margin $4,800,000 $4,288,000 $9,088,000
Less: Direct fixed costs 1,200,000 960,000 2,160,000
Segment margin $3,600,000 $3,328,000 $6,928,000
Less: Common fixed costs 1,702,400
Operating income $5,225,600

Required:
a. Compute the number of regular models and deluxe models that must be sold to break even.
b. Using information only from the total column of the income statement, compute the sales revenue that must be generated for the company to break even.

Answers

Answer:

Results are below.

Explanation:

First, we need to calculate the sales proportion of each product:

Regular= 12,000,000/22,720,000= 0.53

Deluxe= 10,720,000/22,720,000= 0.47

Now, we will determine the break-even point for the company as a whole:

Break-even point (units)= Total fixed costs / Weighted average contribution margin

Total fixed costs= 2,160,000 + 1,702,400= $3,862,400

Unitary contribution margin:

Regular= 4,800,000/100,000= $48

Delux= 4,288,000/20,000= $214.4

Weighted average contribution margin= (0.53*48) + (0.47*214.4)

Weighted average contribution margin= $128.35

Break-even point (units)= 3,862,400/128.35

Break-even point (units)= 30,093

For each product:

Regular= 0.53*30,093= 15,949

Deluxe= 0.47*30,093= 14,144

Finally, we need to calculate the break-even point in dollars for the whole company:

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 3,862,400/ (9,088,000/22,720,000)

Break-even point (dollars)= 3,862,400/0.4

Break-even point (dollars)= $9,206,000

From a salesperson's perspective, the characteristics of a good manager: A. vary from manager to manager. B. conflict with the characteristics managers list as being traits of a good manager. C. are a rarity in modern sales organizations. D. include friendship and loyalty E. include flexibility and a team orientation.

Answers

Answer:

E. include flexibility and a team orientation.

Explanation:

Sales management is the process that maintains customers sales by planning, direction and control of the sales process.

It involves motivation, supervising, delegation, and equipping of the sales force.

This is a people oriented career and therefore requires flexibility and a team orientation. So the team is able to adapt to new strategies aimed at improving the sales process.

Think about the following products: cell phone, automobile, clothing, and social media site. Personally, how would you determine and assess the concept of value to the customer for each of these products? Which aspects, technical or social, have the most weight? Would you say that your analysis would be legitimate for others making the same decision?

Answers

Answer:

There are various aspects that would have the most weight.

Explanation:

A company purchased $2,000 of merchandise on July 5 with terms 1/10, n/30. On July 7, it returned $220 worth of merchandise. On July 8, it paid the full amount due. The amount of the cash paid on July 8 equals:

Answers

Answer:

$1,762.2

Explanation:

Calculation for what The amount of the cash paid on July 8 equals:

Cash Paid = ($2,000 - $220) * (199%-1%)

Cash Paid = ($2,000 - $220) * 0.99

Cash Paid = ($1,780*0.99)

Cash Paid = $1,762.2

Therefore The amount of the cash paid on July 8 equals:$1,762.2

Scott wanted to start a lawn cutting service but needed to purchase a lawnmower. Sherif gave Scott $30 in exchange for company revenue. What does Sherif now have in Scott's company?

A.) Rebate.
B.) Investment.
C.) Stock.
D.) Bond.

Answers

Answer:

C.) Stock.

Explanation:

Since in the question it is mentioned that scott wanted to begin the lawn cutting service but required to buy the lawnmower.Here sherif given $30 in exchange for the revenue of the company.

So according to the given options, the option c should be selected as the sherif has the stock by which the revenue would be exchanged

Therefore option c is correct

Answer:

The answer is C. Stock. ❤️

Suppose that a restaurant uses a focus group of regular customers to determine how many customers would buy a proposed new menu item at various prices. Can this information be used to estimate an inverse demand​ curve? A demand​ curve? Explain briefly. Asking how many customers would buy a proposed new menu item at various prices can be used to estimate A. the inverse demand​ curve, and the demand curve can be calculated from it. B. only the inverse demand curve. C. neither the demand curve nor the inverse demand curve. D. only the demand curve. E. the demand​ curve, and the inverse demand curve can be calculated from it.

Answers

Answer:

E. the demand​ curve, and the inverse demand curve can be calculated from it.

Explanation:

A demand function helps to show the relation between quantity demanded and price, the price here is the quantity is a function of price. So, writing the function in other way round, the price which is a function of quantity demanded is called as an inverse demand function.

As per the details given in the question above, it is clear that the quantity is a function of price. The prices on the menu varies and the quantity demanded is determined through various prices. Using this a demand function can easily be computed since quantity is a function of price.

White Company has two departments, Cutting and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each department. The Cutting Department bases its rate on machine-hours, and the Finishing Department bases its rate on direct labor-hours. At the beginning of the year, the company made the following estimates:

Cutting Finishing
Direct labor-hours . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000 30,000
Machine-hours . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48,000 5,000
Total fixed manufacturing overhead cost . . . . . . . . . . . . . . . . $264,000 $366,000
Variable manufacturing overhead per machine-hour . . . . . . ....$2.00 ______
Variable manufacturing overhead per direct labor-hour . . . . . _____ $4.00

Required:
Compute the predetermined overhead rate to be used in each department.

Answers

Answer and Explanation:

The computation of the predetermined overhead rate is shown below:

For Cutting department

= Variable manufacturing overhead per machine hour + (Total fixed manufacturing overhead ÷ machine hours)

= $2 + ($264,000 ÷ 48,000)

= $2 + $5.50

= $7.50

For finishing department

= Variable manufacturing overhead per direct labour + (Total fixed manufacturing overhead ÷ direct labor hours)

= $4 + ($366,000 ÷ 30,000)

= $4 + $12.20

= $16.20

You are given the following information concerning a noncallable, sinking fund debenture: Principal: $1,000 Coupon rate of interest: 7 percent Term to maturity: 15 years Sinking fund: 4 percent of outstanding bonds retired annually; the balance at maturity If you buy the bond today at its face amount and interest rates rise to 13 percent after two years have passed, what is your capital gain or loss

Answers

Answer:

Capital loss of $257.38

Explanation:

Use the following formula to calculate the capital gain or (loss).

Capital Gains / (Loss) = Current Price - Purchase price

As two year have been passed and we need to calculate the current price of the debenture using the following formula

Use the following formula to calculate the price of the bond

Price of the bond = [ C x ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]

Where

F = Face value = $1,000

C = Periodic coupon payment = 7% x $1,000 = $70

r = Periodic interest rate = 13%

n = Numbers of periods = 15 years - 2years = 13 years

Placing values in the formula

Price of the bond = [ $70 x ( 1 - ( 1 + 13% )^-13 ) / 13% ] + [ $1,000 / ( 1 + 13% )^13 ]

Price of the bond = $538.46 + $204.16 = $742.62

Purchase price = $1,000

Placing values in the capital gain or (loss) formula

Capital Gain / ( Loss ) = $742.62 - $1,000

Capital Gain / ( Loss ) = ($257.38)

Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $50 per machine hour, while the Sanding Department uses a departmental overhead rate of $15 per direct labor hour. Job 603 used the following direct labor hours and machine hours in the two departments: Assembly Actual results Direct labor hours used Machine hours used The cost for direct labor is $30 per direct labor hour and the cost of the direct materials used by Job 603 is $1,400. How much manufacturing ovehead would be allocated to Job 603 using the departmental overhead rates?
A. $610
B. $330
C. $580
D. $740

Answers

Answer:

uush no entendí jajaja

Explanation:

que lastima

Tomkat Corp. has only a single asset. This asset generates operating cash flow of $300,000 per year, in perpetuity. Tomkat also has a single liability, which is a perpetual bond (the maturity date is infinitely far in the future) that has a face value of $1 million and that pays coupon interest at a rate of 6% once per year. The appropriate discount rate for the asset is 10%, while that for the bond is 5% per year.

Required:
What is the value of Tomkat’s equity?

Answers

Answer:

$1,800,000

Explanation:

Value of Tomcat's Asset = $300000 / 0.1

Value of Tomcat's Asset = $3,000,000

Interest amount = $1,000,000 * 6%

Interest amount = $60000

Value of Liability (bond) = $60000/0.05

Value of Liability (bond) = $1,200,000  

Value of Tomcat's equity = $3000000 - $1200000

Value of Tomcat's equity = $1,800,000

Identifying the Five Steps in the Revenue Recognition Process

Match each step 1 through 5 with the sales process described in a through e.

Step 1: identify contract(s) with customer.

Step 2: identify performance obligation(s) in the contract.

Step 3: determine transaction price.

Step 4: allocate transaction price to performance obligation(s).

Step 5: Recognize revenue when (or as) each performance obligation is satisfied through a transfer of control

a. The total price for the computer and two years of services is $800.

b. Customer takes possession of the computer and benefits from the data service over two years.

c. Customer will receive the computer immediately and will benefit from two years of data services for the tablet.

d. The standalone selling price of the computer is $500 and of the two-year service contract is $300.

e. Customer agrees to purchase one computer plus two years of data services for an agreed upon price.

Answers

Answer:

Step 1: Identify contract(s) with customer

Correct Match: Customer agrees to purchase one computer plus two years of data services for an agreed upon price.

Step 2: identify performance obligation(s) in the contract

Correct Match: Customer will receive the computer immediately and will benefit from two years of data services for the tablet.

Step 3: Determine transaction price

Correct Match: The total price for the computer and two years of services is $800.

Step 4: Allocate transaction price to performance obligation(s)

Correct Match: The standalone selling price of the computer is $500 and of the two-year service contract is $300.

Step 5: Recognize revenue when (or as) each performance obligation is satisfied through a transfer of control

Correct Match: Customer takes possession of the computer and benefits from the data service over two years.

Problem 3 (Current Liability Entries and Adjustments) Described below are certain transactions of Edwardson Corporation. The company uses the periodic inventory system: 1. On February 2, the corporation purchased goods from Martin Company for $70,000 subject to cash discount terms of 2/10, n/30. Purchases and accounts payable are recorded by the corporation at net amounts after cash discounts. The invoice was paid on February 26. 2. On April 1, the corporation bought a truck for $50,000 from General Motors Company, paying $4,000 in cash and signing a 1-year, 12% note for the balance of the purchase price. 3. On May 1, the corporation borrowed $83,000 from Chicago National Bank by signing a $92,000 zerointerest-bearing note due 1 year from May 1. 4. On August 1, the board of directors declared a $300,000 cash dividend that was payable on September 10 to stockholders of record on August 31. Instructions (a) Make all the journal entries necessary to record the transactions above using appropriate dates. (b) Edwardson Corporation's year-end is December 31. Assuming that no adjusting entries relative to the transactions above have been recorded, prepare any adjusting journal entries concerning interest that are necessary to present fair financial statements at December 31. Assume straight-line amortization of discounts.

Answers

Answer:

1. February 2

Dr Purchases68,600

Cr Account payable 68,600

February 26

Dr Account payable 68,600

Dr Purchase Discount loss 1,400

Cr Cash 70,000

December 31

No adjustment necessary

2. April 1

Dr Trucks 50,000

Cr Cash 4,000

Cr Note payable 46,000

December 31

Dr Interest expenese 4,140

Cr Interest Payable 4,140

3. May 1

Dr Cash 83,000

Dr Discount on notes payable 9,000

Cr Notes payable 92,000

December 31

Dr Interest expense 6,000

Cr Discount on notes payable 6,000

4. Aug 1

Dr Dividend $300,000

Cr Dividend payable $300,000

Sept 10

Dr Dividend payable$300,000

Cr Cash $300,000

December 31

No adjustment necessary

Explanation:

Preparation of the journal entries

1. February 2

Dr Purchases68,600

[$70,000 * (100%-2%)]

Cr Account payable 68,600

February 26

Dr Account payable 68,600

Dr Purchase Discount loss 1,400

(70,000-68,600)

Cr Cash 70,000

December 31

No adjustment necessary

2. April 1

Dr Trucks 50,000

Cr Cash 4,000

Cr Note payable 46,000

(50,000-4,000)

December 31

Dr Interest expenese 4,140

Cr Interest Payable 4,140

($46,000* 12% * 9/12 = $4,140)

3. May 1

Dr Cash 83,000

Dr Discount on notes payable 9,000

Cr Notes payable 92,000

December 31

Dr Interest expense 6,000

Cr Discount on notes payable 6,000

($9,000 * 8/12 (STRAIGHT-LINE) = $6,000)

4. Aug 1

Dr Dividend $300,000

Cr Dividend payable $300,000

Sept 10

Dr Dividend payable$300,000

Cr Cash $300,000

December 31

No adjustment necessary

WFO Corporation has gross receipts according to the following schedule:
Year 1

$22.00 million

Year 2

$24.00 million

Year 3

$26.00 million

Year 4

$24.50 million

Year 5

$25.00 million

Year 6

$27.00 million

If WFO began business as a cash-method corporation in Year 1, in which year would it have first been required to use the accrual method?

Answers

Answer:

WFO Corporation

Given WFO Corporation's annual gross receipts, which exceed $20 million, it is expected to use the accrual basis starting from Year 1, whether it is a C-Corporation or an S-Corporation.

Explanation:

a) Data and Calculations:

Gross Receipts:

Year 1     $22.00 million

Year 2    $24.00 million

Year 3    $26.00 million

Year 4    $24.50 million

Year 5   $25.00 million

Year 6   $27.00 million

b) For a C-Corporation, when the average gross receipts for the past three years exceed $5 million, the corporation is expected to change from cash basis to accrual basis.  Assuming that WFO Corporation is an S-Corporation, it is expected to change to the accrual basis if its annual gross receipts exceed $10 million.

This discussion has 2 parts:_______.
Part 1: Generate a list of all of the attributes that make you...you. Things that are essential to who you are, that influence your decisions, and your behaviors. These could also be personality traits or other influential items.
Part 2: Rank order these items in order of importance...so put a number 1 next to the most central or important item, number 2 next to the second most important etc... If you have a long list, only do the top 5.
Part 3 (o.k., I lied it's a 3 part question). Post your top 5 here and talk about how those five items influence the manner in which you communicate and engage with people. How do these influence and guide your daily behaviors?

Answers

Answer and Explanation:

The attributes that make me who I am, in order of importance and influence are:

1. Patience: Patience has enabled me to resolve a lot of calm in the most tense moments in my life, which allows me to go through my own challenges with less stress. It also allows me to have a better relationship with people, since relationships can be difficult at times.

2. Communication: I consider myself to be a communicative person, which has allowed me to express myself and remain honest with myself.

3. Family support: My family supports me a lot and this gives me the confidence to try to do what I want, to have a free mind, to experiment and not be afraid to let my true nature be expressed. This has made me a very brave person.

4. Thoughtful: Although I consider myself brave, I am afraid of causing bad results to me and the people around me, which makes me plan and think a lot before acting.

5. Kindness: I believe that I am very kind, which allows people to be comfortable with me and make me comfortable in their presence.

Who Is Lil Loaded i want to know

Answers

Answer:

search it up

Explanation:

Answer:

he is a rapper dude. search it up

Explanation:

Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be $432,000, and direct labor costs to be $2,160,000. Actual overhead costs for the year totaled $404,000, and actual direct labor costs totaled $1,880,000. At year-end, the balance in the Factory Overhead account is a:

Answers

Answer:

$28,000 Underapplied

Explanation:

Calculation for what the balance in the Factory Overhead account is

Estimated Overhead Cost/Estimated DL = Overhead Rate

$432,000/$2,160,000 = 20 %

Actual Overhead: $404,000

Applied Overhead: (DL 20%) = ($1,880,000 20%) = $376,000

Actual OH - Applied OH = FOH

$404,000 - $376,000 =

$28,000 Underapplied

Therefore At year-end, the balance in the Factory Overhead account is a:$28,000 Underapplied

Match each type of adjusting entry with its definition.
Deferred revenue
Accrued expenses
Prepaid expenses
Accrued revenue
Match each of the options above to the items below.
Receive cash in the current period that will be recorded as a revenue in a future period.
Record an expense in the current period that will be paid in cash in a future period.
Record a revenue in the current period that will be collected in cash in a future period.
Pay cash (or have an obligation to pay cash) in the current period that will be recorded as an expense in a future period.

Answers

Answer and Explanation:

The matching is as follows:

1. Deferred revenue - the cash would be received in the present period and the same would be reported as a revenue for the future period

2. Accrued expense - It would be recorded as an expense for a present period but the cash would be paid in the future

3. Prepaid expense - The cash is paid or the obligation is to the pay the cash in the present period but the expense would be recorded in the future period

4. Accrued revenue - the revenue is recorded in the present period but the cash would be collected in a future period

Colin presents his findings in class. His topic -- stories addressing effects of white flour on a person's health – features scientific terminology and descriptions of complex bodily functions. Colin was unsure of the best way to present this information, but Ms. Anderson helped him decide on some useful tools. Colin breaks down the material with analogies, definitions, and visual aids. He can tell his classmates are following along, as they nod in agreement during these points of his presentation
Match the description of public speaking with the type of supporting material it features.
Analogy
А. The owner of a local coffee shop hangs up a map showing the countries the shop purchases its coffee from
Definition
B. A professor asks his students to read the poem as if they are reading poetry for the very first time.
C. A politician reminds his audience that he won 67% of the vote in the last election
Visual Demonstration
D. A film director describes the differences between documentary and fictional films to accoun of

Answers

Answer:

Analogy is defined as a comparison between two things with an aim of clarification and explanation

- (D) A firm director describes the differences between documentary and fictional films to a group of people.

Definition means of a text, word,action or concept.

- (B) A professor asks his students to read the poem as if they are reading poetry for the very first time.

Visual Demonstration is an illustrative matter, for example a model, film or a slide designed to supplement spoken or written information in order to be understood easily.

- (A) The owner of a local coffee shop hangs up a map showing the countries the shop purchases it's coffee from.

Other Questions
1. Lawrence's parents pay him a base allowance of $10 per week and $3.20 per hour for extra chores he completes.Mr. Williams pays Lawrence $7.80 per hour to fix broken washing machines at the laundromat. Which equationmodels Lawrence's total weekly income? Por qu crees que un escritor puede influir en sus lectores y en las sociedades que estos conforman?doy coronaaaa Define naturalistic observation and give an example. Define laboratory observation and give an example. Which statement describes a theme in "The Lake Isle of Innisfree"? help !! Find x, the angle of depression from the top of a lighthouse that is 153 ft above the water level to the waterline of a ship 1071 ft off shore. Round your answer to the nearest tenth of a degree. What are the factors that affect self-confidence? Select the correct answer.Which role would a youth hired in the food industry be able to perform?O A.managing the cash registerOB. overseeing food safetyOC. performing sanitationOD.hazardous jobs like frying Find a positive angle that is less than 360 that is coterminal with a -80angle*260440-440None of the above Find the percent change from the first value to the second. Round to the nearest percent.92; 23 help me out i would really appreciate it What term refers to the governmental allocation and collection of money within the state, as well as the ways the government spends, allocates, distributes, and collects money? A. lens of scarcity B. global trade C. fiscal policy D. capital In the adjoining equilateral triangle PQR , X , Y and Z are the middle points of the sides PQ , QR and RP respectively. Prove that XYZ is also an equilateral triangle.~Thanks in advance ! The theme of a short story isoftenA. an insignificant part of the story.B. specific only to the events of the story and notapplicable to everyday life.C. an observation about human nature. How long will it take a cross country runner to cover a distance of 350 meters at a speed of 17.5 m/min? If 95% of students are coming to school tomorrow, what is the complement?Question 5 options:A. 95%B. 100%C. 1%D. 5% Pls help me on this question its SOS pls help pls! i really want to play robl.x when i get home so pls help me pls What happens if excess carbon dioxide is not removed from the atmosphere?A) a decrease in the amount of fossil fuels availabeB) it may lead to global warmingC) more dead plants and animals not decomposing before getting buriedD) increase in the amount of fossils fuels availableplease help fast I need to bring my grade up I'll give 30 points. In the oceans on either side of the Isthmus of Panama are 30 species of snapping shrimp, 15 species on the Pacific side and 15 different species ch the Atlantic sid. See different water depths. Morphological and genetic data show that Atlantic and Pacific species that live at similar depths are sister species. Geological evidence indicates that the Isthmus of Panama started rising about 10 million years ago and the oceans were completely separated by the stimus about 3 million years ago. If the geological evidence has been misinterpreted and the isthmus had formed very rapidly in less than 1,000 years), which of the following predictions is most likely? A. greater percentage of difference in DNA sequences between sister species that inhabit deep water than between sister species that inhabt stalow water B. greater percentage of difference in DNA sequences between sister species that inhabit shallow water than between sister species that inhabit deep water C. similar percentages of difference in DNA sequences between all pairs of sister species D. greater percentage of difference in DNA sequences between Atlantic species than between Pacific species PLSSSSS HELP CORRECT ANSWER GETS BRAINLIEST The mass of a dust particle would be measured in?