answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Lady bird [3.3K]
2 years ago
9

Gaur sells Jensen equipment under an arrangement whereby Gaur delivers the equipment on January 1, 2021 and receives payment on

June 30, 2022. When delivery of the equipment occurs, Gaur will record a journal entry that includes:
A. Debit to discount on notes receivable.
B. Credit to sales revenue.
C. Debit to cash
D. Credit to notes receivable
Business
1 answer:
S_A_V [24]2 years ago
5 0

Answer:

B. Credit to sales revenue

Explanation:

As per revenue recognition principle, revenue should be recognized when it is earned and not when cash is received.

As per accrual basis of accounting, revenue is to be recognized when the ownership of the goods has been passed by the seller to the buyer and there is reasonable assurance that payment would be received.

When a sale is effected and goods are delivered with reasonable certainty that payment would be received, following journal entry is recorded:

Accounts Receivable A/C                                Dr.

     To Sales Revenue

(Being equipment sold recorded)

You might be interested in
Brokers prepare a broker file that has all of the documents that may have a material effect upon the rights or obligations of a
s2008m [1.1K]

Answer:

One year from the date of the listing if the transaction is not consummated.

Explanation:

Retention period is the number of years as enforced by the law that a certain records must be kept compulsorily before it is eligible for destruction. The retention period shall be 1 one year from the date of the from the date of listing or closing of the transaction if the transaction is not consummated. Retention period is generally in many cases is 1 year and not more than that.

6 0
2 years ago
Mark is a senior manager at a leather manufacturing company. He sets unrealistic goals for the factory workers, and he often mak
crimeas [40]

Answer:

The authority compliance style

Explanation:

The authority compliance style is one of the Blake / Mouton leadership grips where the manager believes that the employees are just a form of means to achieving a goal . As a result of this , the set goals are given more priority over the employees.

Employees under this managerial form of leadership are not motivated as they are forced to work towards achieving the managers goals with in a very stringent condition.

8 0
2 years ago
Read 2 more answers
1. Sony has 12 core segments in its business. Is this too many or not enough? Are today’s companies diversified like they used t
mestny [16]

Answer:

1) This question is about whether diversification is good or bad for a large corporation. Whether diversification can be considered good or bad depends on the corporation itself, there is no one answer fits all. In this case, Sony is divided into 12 segments or divisions and each of them generates their own cash flows and offers their own products or services.

High tech companies generally tend to diversify a lot because they need to continuously produce innovative products or improve their existing ones. E.g. Google got so large and diversified that it turned into Alphabet which owns more than 200 companies (most of them through acquisitions). Sony's largest revenue sources are gaming services, financial services and home entertainment.

When we think about Sony we probably think about consumer electronics, the Playstation or even movies, but in order to be profitable, Sony had to expand and diversify. Sony's revenues are shifting from consumer electronics to services (including financial, gaming, network, music and movies), so that means that their diversification model actually worked.

2) Sony's goal with Future Lab is to create customer value and new lifestyles, whether they are able to do so depends on how well they work it out. Future Labs is based on San Francisco, and it should serve as a place where innovative prototypes should be tested by real users. The goal is that Sony can learn from actual real life user experiences in order to improve their products and services. The real life customers and users that want to participate in Sony's program must pay a fee for doing so, but they can also experience prototypes before anyone else.

7 0
2 years ago
During January, 7,000 direct labor hours were worked at a standard cost of $20 per hour. If the direct labor rate variance for J
igor_vitrenko [27]

Answer:

$17.50

Explanation:

Given that,

Direct labor hours = 7,000

Standard cost = $20 per hour

Direct Labor Rate Variance = $17,500 Favorable

(Standard Rate - Actual Rate) × Actual Hours = $17,500 Favorable

(20 - Actual Rate) × 7,000 = $17,500 Favorable

140,000 - 7,000 Actual Rate = $17,500 Favorable

Therefore,

7,000 Actual rate = (140,000 - $17,500)

Actual rate = 122,500 ÷ 7,000

                  = $17.50

8 0
1 year ago
Jimmy just turned 50 and has retirement savings in an IRA. How many years will he have to wait to be able to withdraw money with
Ganezh [65]
IRA stands for Individual Retirement Arrangements. Jimmy can access your money through an IRA withdrawal any time he’d like. There will only be difference in the tax he will have to pay. Without penalty Jimmy in to take his IRA withdrawal once he<span> reaches 59 years. So, Jimmy will have to wait 9 years to be able to withdraw money without penalty.</span>
6 0
2 years ago
Read 2 more answers
Other questions:
  • Who moved from rural villages into towns, where they specialized in a particular trade and produced superior quality products?
    9·2 answers
  • When a development team is having trouble delivering a working increment because they don't understand a functional requirement?
    12·1 answer
  • During the months of January and February, Solitare Corporation sold goods to two customers. The sequence of events was as follo
    7·1 answer
  • April and Wayne are the buyer and seller of a condo, respectively. April is represented by Steve. Wayne is represented by Wanda.
    8·1 answer
  • Nicole organized a new corporation. The corporation began business on April 1 of year 1. She made the following expenditures ass
    8·1 answer
  • ________ reject most traditional advertising and use multiple sources—traditional media, the Internet, product-rating magazines,
    13·1 answer
  • Suppose that the central bank must follow a rule that requires it to increase the money supply when the price level falls and de
    8·2 answers
  • Arctic Cat sold Seneca Motor Sports a shipment of snowmobiles. The snowmobiles were delivered on January 1, 2021, and Arctic rec
    10·1 answer
  • Harpeth Valley Water District has a bond outstanding with a coupon rate of 3.63 percent and semiannual payments. The bond mature
    13·1 answer
  • Lie Around Furniture manufactures two​ products: Couches and Beds. The following data are​ available: Couches Beds Sales price V
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!