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Ivan
2 years ago
10

On November 15, Meier Company received $3,000 cash from a customer for services that were performed on November 1. According to

the Revenue Recognition Principle, on which date should the revenue be recorded?
Business
1 answer:
Leya [2.2K]2 years ago
7 0

Answer:

November 1

Explanation:

As per generally accepted accounting principles (GAAP), when the goods or services are delivered the revenue should be recorded and the transaction done in all respects.

The principle of revenue recognition occurs when the revenue is realized or earned, whether cash is obtained or not and it also meets the accounting accrual basis. Realizable here means that the consumer receives the product but the payment is made later.

Therefore, the revenue should be recorded on November 1

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Road King Cycles Inc. is a manufacturer of bicycles and sells its bikes to retail outlets that serve the consumer market. Road K
Mekhanik [1.2K]

Answer:

road bicycles would be categorized as <u>CASH COW</u> while hybrid bikes would fall into the <u>QUESTION MARK</u> category.

Explanation:

Cash cows are products that have a high market share but their markets are not growing very much. This products generate a lot of cash.

Question marks are products whose market is growing fastly, but the product itself doesn't have a high market share. This products have a great potential, but it is not certain that they will achieve it.

5 0
2 years ago
Which of the following cultures develops an emphasis on entrepreneurship and respect for the employee and allows the use of orga
Volgvan

Answer: <u><em>Adaptive cultures </em></u><em>develops an emphasis on entrepreneurship and respect for the employee and allows the use of organizational structures that empower employees to make decisions and motivate them to succeed.</em>

This in rudimentary terms that defines a way of operating where alteration is anticipated and accommodating to these alteration is smooth and seamless.  With this in place growth, and innovation are a part of the business organization environment.

<u><em>Therefore, the correct option is (c)</em></u>

6 0
2 years ago
Marko, Inc., is considering the purchase of ABC Co. Marko believes that ABC Co. can generate cash flows of $6,200, $11,200, and
Serggg [28]

Answer:

$27,965.4393

Explanation:

Given:

Cash flow for first year (C1) = $6,200

Cash flow for second year (C2) = 116,200

Cash flow for third year (C3) = $17,400

Rate of return = 10% = 10/100 = 0.1

Computation of total price :

Total Price = \frac{C1}{(1+r)^1} +\frac{C2}{(1+r)^2} +\frac{C3}{(1+r)^3}

Total\ price = \frac{6,200}{(1+0.1)^1} +\frac{11,200}{(1+0.1)^2} +\frac{17,400}{(1+0.1)^3}\\\\Total\ price = \frac{6,200}{(1.1)^1} +\frac{11,200}{(1.1)^2} +\frac{17,400}{(1.1)^3}\\\\Total\ price = \frac{6,200}{(1.1)} +\frac{11,200}{(1.21)} +\frac{17,400}{(1.331)}\\\\Total\ price = 5,636.36364 + 9256.19835 +13,072.8775\\\\Total\ price = 27,965.4393\\\\

Therefore, Marko Inc. will  pay $27,965.4393  

8 0
2 years ago
You are considering opening a small flower store. You anticipate that you will earn $100,000 each year in revenue. It will cost
vekshin1

Answer:

I'm not completely what the correct answer is

4 0
1 year ago
Unter Components manufactures low-cost navigation systems for installation in ride-sharing cars. It sells these systems to vario
Nookie1986 [14]

Answer:

The answer is 9,360 direct labor-hours.

Explanation:

The first step is to calculate the direct labor-hours per unit. The second step is to calculate the total direct labor-hours required to produce the additional systems.

Step 1

Direct labor-hours per unit = Direct labor / Average wage rate per hour

Star100: Direct labor-hours per unit = 40 / $25 = 1.6

Star150: Direct labor-hours per unit = 50 / $25 = 2

Step 2

Total labor-hours required = Direct labor-hours per unit x Number of systems required

Star100: Total labor-hours required = 1.6 x 2,600 = 4,160

Star150: Total labor-hours required = 2 x 2,600 = 5,200

Combined direct labor-hours required = 4160 + 5,200 = 9,360

5 0
2 years ago
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