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Simora [160]
2 years ago
15

Great Visions Company entered into a contract with ABC Carpet Company on January 15, 2020. The delivery date of March 1 was spec

ified in the contract, but Great Visions did not deliver until March 31, 2020. According to the contract, a full payment of $75,000 was due 30 days after delivery. When should this contract be recorded?
Business
1 answer:
inn [45]2 years ago
8 0

Answer:

March 31, 2020

Explanation:

The accrual accounting principle states that you must record transactions in the accounting periods in which they occur, and the conservatism principle states that revenues should only be recorded when the earning process has been substantially completed.

In this case, only March 31 fulfills both requirements, since the goods were delivered on that day: same accounting period + earning process completed.

You might be interested in
Many manufacturers have quality control programs that include inspection of incoming materials for defects. Suppose a computer m
zimovet [89]

Answer:

Explanation:

There are total 5 batches and two boards are selected from each batch for inspection.

Let the boards are numbered from 1 to 5.

If the selected boards are 1 and 2, then it is represented in pair as (1, 2).

If the selected boards are 1 and 3, then it is represented in pair as (1, 3).

Similarly, other pairs can be obtained.

a) Let X be the number of defective boards observed among the two inspected.

If the boards 1 and 2 are the only defective boards in a lot of five, then

(1,2),x=2; (1,3),x=1; (1,4),x=1; (1,5),x=1;

(2,3),x=1; (2,4),x=1; (2,5),x=1;

(3,4),x=0;\ (3,5),x=0;\ (4,5),x=0.(3,4),x=0; (3,5),x=0; (4,5),x=0.

P(X=0)=  3/10 =0.3

P(X=1)={6 \over 10}=0.6P(X=1)=  6/10 =0.6

P(X=2)={1 \over 10}=0.1P(X=2)=  1/10 =0.1

b)

x                  0               1                    2

p(x)            0.3           0.6                0.1

​

​μ  X  =0⋅0.3+1⋅0.6+2⋅0.1=0.8

σ  X ² =(0−0.8)²  ⋅0.3+(1−0.8)²  ⋅0.6+(2−0.8)² ⋅0.1=0.36

μₓ=0.8, σX  =0.6

 

​

5 0
2 years ago
Kenneth is admired as a manager because of his ability to work well with others to get things done. Which type of skill is Kenne
riadik2000 [5.3K]

Answer:

Is teamwork skills

Explanation:

Working well in a team mean:

Work with a group to achieve a goal or shared result effectively

Listen to team members.

Take into account the ideas of all the team

6 0
2 years ago
Read 2 more answers
Colin wants to set up an aquarium.. He already has a tank, but needs to purchase fish, filters, and plants. If the cost of the f
irakobra [83]

Answer:

option D

$148.2

Explanation:

Given in the question,

cost of fish = $84.79

cost of filter on sale = $44.75

cost of plants = $18.66

Total cost = $84.79 + $44.75 + $18.66

                = $148.2

5 0
2 years ago
Read 2 more answers
1. How much interest would you pay on a loan of $1,230 for 15 months at 15 percent APR if the interest is 18.75 per $100?
Alina [70]
1. How much interest would you pay on a loan of $1,230 for 15 months at 15 percent APR if the interest is 18.75 per $100?


 The chart probably refers to interest per $100 of loan. So, the interest for a $1,230 loan would be (1230/100) * 18.75 = 230.625 ~ 230.63
So, the answer will be B $230.63.


2. Sherri borrowed $3,200 at 13 percent APR for 18 months. If she must pay 19.5 per $100, what is the total interest?
3,200 / 100 = 32 ... x 19.5 = 624 
Principal x int rate x time = 3200 x .13 x 1.5 yr = 624 interest

So, the answer will be the A $624.


3. What is the total amount that Sherri (in question number 2) will repay?

The correct answer will be the $3,824.


7 0
2 years ago
Unipeg Corporation has uniform high sales targets for its employees all across the globe, regardless of the environmental constr
Aleks04 [339]

Answer: 4). Unrealistic performance goals.

Explanation: Ethics are moral principles that guide how an individual acts. Ethics involves integrity and values.

In the context above, employees were given unrealistic sales targets regardless of the economic constraint of the nation. This hampered the ethical nature of some of the Staff as for fear of being penalized they became unethical.

4 0
2 years ago
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