Answer: <em><u> $56,000 is unadjusted revenue overstated in the combined income statement for year 2.</u></em>
Explanation:
Consolidated Cost of Goods Sold = $40,000,
However, Twill realizes $56,000 ($40,000 × 140%) for a total of $96,000 as the cost of goods sold.
Thus, $56,000[$96,000 – $40,000] should be eliminated from Cost of Goods Sold in the combined income statement for year 2.
Answer:
The correct answer is option d.
Explanation:
Unfavorable weather in Florida has adversely affected the production of Florida oranges. The decline in production has led to reduced supply of Florida oranges. This decrease in supply will lead to an increase in the price.
As Florida oranges and California oranges are substitutes, with the increase in the price of Florida oranges will lead to an increase in the demand for California oranges as people will prefer the cheaper substitute.
This is based on your opinion :\ I use google tho
Answer:
The correct answer is "$9450".
Explanation:
Given:
Payoff from investment,
= $6000
Lending to bank,
= 
= 
Now,
At 15% interest,
The amount to be received from bank will be:
= 
= 
= 
= 
($)
hence,
In her old age, most she can assume will be:
= 
= 
($)
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
