Answer:
- $1,590,790
- $300,000
- $165,000
Explanation:
1. The company performed services but did not record them. Those services were for 2021 and so should be counted in 2021's income statement.
= 1,425,790 + 165,000
= $1,590,790
2. Coaster Trucks received $300,000 even though they have not yet provided the services for it.
The Unearned revenue = $300,000
3. Coaster Company had performed services worth $165,000 that were neither billed nor paid for. When they record t, it will be owed to them so it will be an Account Receivable.
Accounts Receivable = $165,000
Answer:
The correct answer is letter "D": Pepsi to the right.
Explanation:
The demand law states that when the price decreases, the quantity demanded will increase -moving the demand curve to the right, and when the price increases, the quantity demanded decreases -moving the demand curve to the left. The price-quantity demanded relation is inversely proportional.
Thus, if the price of Pepsi decreases, all else constant -<em>ceteris paribus</em>, the quantity demanded will increase moving the demand curve to the right.
Answer:
amount of the check = $3430
Explanation:
given data
sells merchandise account = $5000
credit terms of 2/10, n/30
Company returns = $1500
to find out
amount of the check
solution
we will find here amount of the check that is express here as
amount of the check = (sells merchandise account - Company returns) × (100 - n ) .......................1
put here value in equation 1 we get
amount of the check = (5000 - 1500 ) × (100% - 2%)
amount of the check = (3500 ) × (98%)
amount of the check = $3430
Answer:
Dep expense for the second year 7,600
Explanation:
![\left[\begin{array}{ccccc}Year&Beginning&Dep-Expense&Acc. \: Dep&Ending\\0&-&-&-&47500\\1&47,500&9,500&9,500&38,000\\2&38,000&7,600&17,100&30,400\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccccc%7DYear%26Beginning%26Dep-Expense%26Acc.%20%5C%3A%20Dep%26Ending%5C%5C0%26-%26-%26-%2647500%5C%5C1%2647%2C500%269%2C500%269%2C500%2638%2C000%5C%5C2%2638%2C000%267%2C600%2617%2C100%2630%2C400%5C%5C%5Cend%7Barray%7D%5Cright%5D)
1/10 = straight-line method
straight-line x 2 = DD rate
47,500 x 2/10 = 9500
then we calculate the DD rate again with the book value
47,500-9,500 = 38,000
38,000 x 2/10 = 7,600
Answer:
$64,300
Explanation:
The amount of revenue that Moretti Department store should recognize as revenue in 2021 should be based on the redeemed amount in the year and unused balance:
1. $1,500 were redeemed during 2021
2. $800 2019 balance remains unused
3. $22,000 were redeemed in 2021
4. $40,000 were redeemed in 2021
Total Revenue for 2021 = $64,300
