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LenaWriter [7]
2 years ago
14

A company receives $6,500 for two season tickets sold on September 1. If $2,500 is earned by December 31, the adjusting entry ma

de at that time is a debit to Cash, $2,500, and a credit to Ticket Revenue, $2,500.A. TrueB. False
Business
1 answer:
nika2105 [10]2 years ago
5 0

Answer:

The answer is false.

Explanation:

The $6,500 received for two seasons ticket is unearned revenue at September 1.

Unearned revenue have been received in advance but the customer has not enjoyed the service.

As the company enjoys this service monthly till the subscription finishes, revenue will be recognized and unearned revenue which is a liability in the balance sheet will reduce by the same value.

Two seasons ticket is 2 years(24 months).So what will be recognized monthly will be $270.83 ($6,500/24months)

September 1 through December 31 is 4 months.

So the adjusting entry at December 31 is 4 x $270.83

=$1,083.32

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Ashley received a raise at work that increased her monthly income from $1,000 to $1,250. Last year, Ashley bought 20 slices of c
zysi [14]

Answer:

0.8; normal

Explanation:

8 0
1 year ago
The Assembly Department of​ GigaGo, Inc., manufacturer of​ computers, had 2 comma 000 units of beginning inventory in​ September
Alenkasestr [34]

Answer:

8,000 units need to be accounted for

Explanation:

The Weighted Average  method Calculates the cost per unit by Adding the costs in Opening Work in Process and the Costs added in process department during the period. This cost is then divided by the the Sum of units in closing Work in Process and units of Completed goods.

The Units that needs to be Accounted for is the <em>Sum of</em> the units in Opening Work In Process and the units Transferred into the Assembly Department.

7 0
2 years ago
The concepts of flexibility and real options are closely related to the importance of history and ________ described as potentia
Fittoniya [83]

Answer:

The correct answer is letter "A": path dependence.

Explanation:

Path dependency refers to the stage in which a company does not engage new ventures because it is too familiar with its current processes. Besides, the entity has the belief that continuing with the historical product is has been offering is more cost-effective than engaging in the production of a new good.  

<em>The competitive advantage of the institution remains the same during the whole time which is a weakness because the market of the firm could change but the firm does not implement any measure to keep the pace of the market fluctuations.</em>

5 0
2 years ago
________ play an important role in efficiently making products available to target markets in the needed varieties and quantitie
avanturin [10]

Answer:

Intermediaries

Explanation:

Intermediaries are individuals or organisations whose main function is to ensure that goods are moved smoothly through the various channels of distribution. They act as a link between the manufacturers and the consumers.

Intermediaries acts as a middleman, they provide feedbacks to the manufacturers on the customer's assessment of the product. They also help in the promotion of goods by employing different advertising strategies inorder to showcase the product to the potential customers.

Hence intermediaries play a crucial role in efficiently making products available to target markets in the required varieties and quantities.

8 0
2 years ago
A building has a potential gross rental income of $145,000 with vending receipts of $5,000 and a vacancy rate of 5%. the annual
RUDIKE [14]
Effective gross income = Total Potential income-Expenses- management fees
Total potential income = gross rental income + vending receipts- gross rental income vacancy
 gross rental = $145000
vending receipts = $5000
rental vacancy = $7250
total potential income = $142,750
Expenses = taxes+insurance +maintenance + utilities + repairs +legal fees
Expenses = $40,000
management fee = (total potential income- expenses) x.04
management fee = $4110
gross effective income = $142750-$40000-$4110
                                        = $98640



8 0
1 year ago
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