A contract for the rendering of services for a total of $1,750 is entered into on 1 March 2021. The services are delivered on 7 March 2021. The buyer receives an invoice for the services on 1 March 2021. The buyer pays cash to settle the invoice on 6 March 2021.
Date or dates of revenue recognition: ……………………….
Show your journal entries
Answers
Based on the information provided, let's determine the date of revenue recognition and prepare the journal entries:Date of Revenue Recognition: March 7, 2021 (when the services are delivered)
Journal Entries:
1. 2021 (Invoice issued): Accounts Receivable (or Cash) Dr. $1,750
Revenue Cr. $1,750
2. On 6 March 2021 (Payment received): Cash Dr. $1,750
Accounts Receivable Cr. $1,750
Please note that the revenue is recognized on March 7, 2021, when the services are delivered, rather than when the invoice is issued or the payment is received. The journal entries reflect the recognition of revenue and the subsequent settlement of the invoice.
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Related Questions
4. Use the Internet to find an online job posting. Try searching a site like careerbuilder.com or monster.com. Then complete the items below. a. List the link to the posting. (1.0 point) b. List at least two requirements of the job. Complete sentences are not necessary. (2.0 points) c. List at least three tasks that are a part of the job. Complete sentences are not necessary. (3.0 points) d. Write 1-2 sentences explaining why or why not this job would be a good fit for you (2.0 points)
Answers
Answer and Explanation:
Hello. Brainly does not allow links to be placed in responses, which makes it impossible for me to answer your first question. However, you can find this job vacancy in the careerbuilder when searching for Internet / BDC Director.
Two requirements that this job vacancy requires of possible candidates are: Knowledge of management of social networks and experiences with online sales.
The individual who is interested in this job vacancy, if hired, will have to carry out online and face-to-face sales, perform administrative functions and perform customer service whenever necessary.
This job is not a good option for me, because I have no experience in sales, but this is a very promising job vacancy, with a fair salary and benefits, I believe that if I had the requirements, I would do very well in this type of job.
Answer:
1. https://www.careerbuilder.com/job/J337WK6Y75401Z09WZ9
2. · Ideal to have 1 year experience as a pharmacy technician coordinating activities in an administrative support function.
· Must have valid Pharmacy Technician License
3. Working with patients to explain and educate on medical questions
· Tracking and logging vaccination details into EMR (electronic medical records system)
· Assisting Pharmacist as needed
4. This job would be a good fit for me, because I am compassionate, patient, and pay attention to detail. My mathematical skills are excellent, and like working with a team of health care professionals.
Explanation:
Unless you attain your short-term goals, you probably will not be able to achieve your intermediate or long-term goals.
Answers
Short-term goals are essential building blocks for achieving intermediate and long-term goals. These goals act as stepping stones towards achieving bigger goals, which helps to maintain focus and motivation.
If your long-term goal is to become a successful entrepreneur, then you must achieve several short-term goals, such as developing a business plan, conducting market research, and securing funding, among others.
Without accomplishing these short-term goals, it would be challenging to make progress towards your long-term objective. Similarly, if you want to run a marathon, your short-term goals would be to improve your endurance, strength, and speed through regular training, which will eventually lead you to your long-term goal of completing a marathon. It's essential to prioritize your short-term goals to achieve your long-term goals. Otherwise, the absence of these short-term goals may lead to confusion, distraction, and even burnout. For instance, if your long-term goal is to get a promotion, your short-term goals should focus on improving your skills, getting additional qualifications, building networks, and taking on new challenges. By prioritizing these goals, you can increase your chances of achieving your long-term objectives. In conclusion, short-term goals are vital in achieving long-term goals. They help you break down your long-term goals into smaller, achievable steps, which helps you to stay motivated and focused. Therefore, it's essential to take the time to identify and prioritize your short-term goals to help you achieve your long-term goals.Know more about the Short-term goals
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Elora Inc. owns equipment that it purchased on January 1, 2019, for $100,000. The machine has a ten-year useful life and no residual value. The straight-line depreciation is being used. The company uses the revaluation model to account for its property, plant, and equipment every two years. On the revaluation date, at December 31,2020 , the machine has a fair value of
$
88,000. Required: Using the revaluation model, prepare the entr(ies) to adjust the asset's carrying amount to fair value. You can use either the asset adjustment method or the proportionate method.
Answers
Elora Inc. needs to adjust the carrying amount of its equipment to its fair value using the revaluation model. Given that the fair value of the machine on December 31, 2020, is $88,000, we will prepare the necessary entries to reflect this adjustment.
The revaluation model allows for the adjustment of an asset's carrying amount to its fair value, thereby providing more relevant information to the users of financial statements. In this case, the machine's carrying amount on December 31, 2020, is $100,000 (cost) minus the accumulated depreciation for two years, which would be $20,000 (straight-line depreciation of $10,000 per year for two years).
To adjust the carrying amount of the machine to its fair value, we need to increase or decrease the asset's value and update the accumulated depreciation accordingly. As the fair value of the machine is less than its carrying amount, we will decrease the carrying amount by the difference between the fair value and the original cost. The journal entry to adjust the carrying amount would be as follows:
Debit: Accumulated Depreciation - Equipment $20,000
Credit: Revaluation Surplus $12,000
Credit: Equipment $8,000
The debit to the Accumulated Depreciation account reduces its balance to reflect the adjustment, while the credits to the Revaluation Surplus and Equipment accounts decrease the carrying amount of the machine to its fair value of $88,000.
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Bottle Breacher was a successful company that began with crowdfunding through the television show Shark Tank. This is an example of the ______ model of crowdfunding, where an entrepreneur offers a stake in the company in exchange for backing.
Answers
Considering the situation described above, this is an example of the "Reward-based" model of crowdfunding.
This is because a reward-based crowdfunding model is a type of crowdfunding that gives the donor something of value in return.
These rewards may be in the form of commodities, services, discounts, or adverts, etc.
There are various types of crowdfunding models. The most common types are the following:
Equity-based model;Donation or social-based model;Lending model;Reward-based model.Hence, in this case, it is concluded that the correct answer is the "Reward-based model" of crowdfunding.
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A child’s Social Security benefits belong to the child and should not be reported on the parent’s return.
Answers
Social Security benefits for your dependents are not taxable to you. These Social Security Benefits are only taxable to your child because she has the legal right to collect them. If she files a return, these benefits are disclosed.
Does a parent have to pay taxes on a child's Social Security benefits?
Children's social security benefits are never considered taxable income for the parent or legal guardian.
How much Social Security do children get?
A child can get up to half of the entire retirement or disability benefits of a parent within a family. A kid who qualifies for survivors benefits may receive up to 75% of the standard Social Security income of the deceased parent.
What makes a child eligible for Social Security benefits?
The youngster must also have one or more physical or mental conditions that severely restrict their daily activities. The condition(s) must have persisted for at least a year or be predicted to cause death.
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Define a product of your choice. What makes you purchase the
product? Why is the product better than competitors?
Answers
Product differentiation is what makes your product or service different and more appealing to customers than other options in your category. Product differentiation is what gives you a competitive advantage in your market.
In general, how long does it take to accomplish a long-term goal?
A.
a few days to a week
B.
a few weeks to a month
C.
a few months to a year
D.
more than a year
Reset
Next
Answers
Answer:
The answer is D.more than a year
Explanation:
Can someone help me with this question please
How does you credit rating affect your credit score?
Answers
Answer:
Your credit rating decreases each time you are missing a payment or late on a payment which affects your credit score. With your credit score lowering each time, it will affect you from many opportunities like getting a loan for a lower interests rate and it will affect on whatever major purchase you make and you want to borrow money since the lender will not think you are a reliable person that will pay on time.
Explanation:
Hope that helps
In a job-order costing system, indirect labor cost is usually recorded as a debit to: Multiple Choice Manufacturing Overhead. Finished Goods. Cost of Goods Sold. Work in Process.
Answers
It should be noted that In a job-order costing system, indirect labor cost is usually recorded as a debit to Cost of Goods Sold.
What is Job costing?Job costing can be regarded as a strategy used in tracking the costs as well as revenues which helps in reporting of profitability by job.
Using thus strategy, indirect labor cost is usually recorded as a debit regarding Cost of Goods Sold.
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fortunately, the loss to an organization from an employee leaving employment is captured in the costs to hire a replacement employee. true or false
Answers
True. The loss to an organization from an employee leaving employment is captured in the costs to hire a replacement employee. This is because the process of recruiting, hiring, and training new employees is a costly process for organizations.
Some of the costs associated with hiring a new employee include advertising, interviewing, screening, background checks, onboarding, and training. Additionally, there may also be indirect costs such as lost productivity, decreased morale, and increased workload for remaining employees.
Therefore, organizations need to factor in these costs when calculating the true cost of employee turnover. By doing so, they can develop strategies to reduce turnover and retain top talent. For instance, some organizations offer competitive salaries and benefits, opportunities for career development, and a positive work environment to keep their employees engaged and motivated.
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Thanks to our group's ________________, we were able to accomplish all our goals. a. detail-oriented structure b. reaction-oriented structure c. group-oriented structure d. action-oriented structure
Answers
Answer:
it's D ( action-oriented structure)
Explanation:
Answer:
d. action-oriented structure
Explanation:
Fractional reserve banking is useful for banks because it:
O A. allows the value of loans to exceed the value of cash reserves.
OB. combines the services of both commercial and retail banks.
OC. divides large accounts into smaller ones that are easier to
manage.
OD. pressures customers to accept higher interest rates on loans.
Answers
before giving a loan to a customer, a lender examines the customer’s credit report. which explains why the lender examines the customer’s credit report? to determine if the customer is a likeable person to determine the customer’s income to determine the customer’s job title to determine if the customer is likely to pay back the loan
Answers
The lender examines the customer's credit report to determine if the customer is likely to pay back the loan.
Examining the customer's credit report is a crucial step for lenders in assessing the creditworthiness of a borrower. The credit report provides valuable information about the customer's past financial behavior, including their history of repaying debts and managing credit. By reviewing the credit report, the lender can evaluate the customer's level of financial responsibility and determine the likelihood of timely loan repayment.
The credit report contains details such as the customer's credit score, payment history, outstanding debts, and credit utilization. A higher credit score generally indicates a stronger credit profile, suggesting that the customer has a history of meeting their financial obligations. On the other hand, a lower credit score or negative entries on the credit report may raise concerns about the customer's ability to repay the loan.
Lenders use the information from the credit report to assess the customer's creditworthiness and make informed lending decisions. By evaluating factors such as credit history, debt-to-income ratio, and overall financial stability, the lender can mitigate the risk of loan default and make sure that the loan is granted to customers who are likely to fulfill their repayment obligations.
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After which problem-solving stage should you take action? A. defining the problem B. evaluating information C. gathering information D. making a choice
Answers
Answer:
Evaluate your decision
Explanation: correct mark brainlest plz. and thanks also []L7[]
Answer:
making a choice
Explanation:
Enter Mia’s total profit/loss for the month may account in the box below
Answers
Add total fixed and total variable expenses to get total expense.
9,000 + 300 = 9,300
Total expense = 9,300
To get total profit/loss, less total expenses from total revenue.
Total revenue = 9,500
9,500 - 9,300 = 200
Total profit/loss = $200
Out of the choices provided above, it can be concluded to state that the total accounting profits for Mel for the month of May as per the financial statements given above will amount to a total of $200. Therefore, the option D holds true.
What is the significance of accounting profits?The accounting profits can be referred to or considered as the profits that lead to a total of surpluses of cash balances and reserves for a particular accounting period. If the amount is not in excess of the expenses, it expresses a condition of an accounting loss for the firm.
In the situation given above, Mel's revenues were $9500, but her expenses were $9000 fixed and $300 variable. So, the accounting profits will be $200, i.e., $9500-($9000+$300)
Therefore, the option D holds true and states regarding the significance of accounting profits.
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The missing options are added below for better reference.
A. -$200
b. $300
c. $500
d. $200
If demand decreases and supply stays the same, there will be a
A) higher equilibrium price and lower quantity
B) lower equilibrium price and quantity
C) higher equilibrium price and quantity
D)lower equilibrium price and higher quantity
Answers
what is meant by an obligation to transfer cash or other resources as a result of a past transaction
Answers
obligation to transfer cash or other resources as a result of a past transaction Liabilities
What is an obligation of a company to transfer assets to others?An entity has a present obligation to transfer an economic resource as a result. of past events if both: (a) the entity has no practical ability to avoid the transfer; and. (b) the amount of the transfer is determined by reference to benefits that the entity has received, or activities that it has conducted A liability is a present obligation of the enterprise arising from past events, the settlement of which is expected to result in an outflow from the enterprise of resources embodying economic benefitsTransferred Obligations means all present and future obligations expressed to be assumed by the Seller under the Loan Agreement and which are attributable to the Transferred AssetsTo learn more about transfer assets refers to:
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suppose that the position of a nation's long-run aggregate demand curve has not changed but the long-run equailibrium price level has declined. All other things being equal, which of the following factors might account for this event? A) An increase in labor productivity B) A decrease in the capital stock C) A decrease in the quantity of money in circulation D) The discovery of new mineral resources used to produce various goods E) A technological improvement
Answers
The long-run aggregate supply curve is vertical because it is not influenced by changes in the price level, only by shifts in production technology, population, and capital. Changes in aggregate demand can change output, employment, and the price level in the short run.
What could cause the long-run equilibrium price level to decrease if the position of a nation's long-run aggregate demand curve has not changed?
A decrease in the quantity of money in circulation (C) would reduce the price level and lower the long-run equilibrium level of prices. If all other things are held constant, a decrease in the quantity of money will reduce the demand for goods and services, lowering the price level and returning the economy to long-run equilibrium at a lower price level. An increase in labor productivity (A) and a technological improvement (E) would increase aggregate supply, decreasing the price level and increasing long-run equilibrium output.
New mineral resources (D) would also increase aggregate supply, lowering prices and raising output in the long run. A decrease in the capital stock (B) would decrease aggregate supply, increasing prices and reducing long-run equilibrium output.
However, a decrease in the quantity of money in circulation would decrease the demand for goods and services, lowering the price level and returning the economy to long-run equilibrium at a lower price level. Thus, an option C is the correct answer.
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What is a disadvantage to online
banking?
security breaches can
happen and compromise
your personal information
it makes you use your
computer
it prevents you from
having to go to the
ATMto deposit
money
it is convenient
Answers
One major disadvantage of online banking is the potential for security breaches and the compromise of personal information. Since online banking involves transmitting sensitive information over the internet, such as account numbers, passwords, and social security numbers, there is always a risk of that information being intercepted by hackers or other unauthorized individuals.
Additionally, online banking may require the use of a computer or mobile device, which can be inconvenient for those who do not have easy access to such devices or who prefer to conduct their banking in person. Finally, while online banking may be convenient for many people, it does not allow for the same level of personal interaction with bank representatives as traditional banking methods, which can be a disadvantage for those who prefer to have a more personalized banking experience.
how might a resent college graduates investment portfolio differ from someone who is nearing retirement
Answers
Answer:
see below
Explanation:
Someone about to retire has more experience in investing, which will show in their portfolio. They have developed an investment strategy that guides them in making investment decisions. Consequently, they have a justification for investing in a particular asset and have an estimate of how much returns to expect. Some about to retire will have a huge and profitable portfolio.
A recent college graduate will want to try their hand at almost every investment opportunity. They have not developed a clear investment criterion. They do not allow their investment time to generate expected returns as they are always in a rush to make profits. Due to their inexperience, their portfolios are full of many transactions that yield little profits and losses.
A graph titled Funding for House Elections 2011 to 2012 shows parties on the horizontal axis and dollars (hundreds of millions) on the vertical axis. Approximately 610 of Republican funding was total raised, 200 was P A C funding, and 350 was individual funding. Approximately 490 of Democratic funding was total raised, 165 was P A C funding, and 290 was individual funding.
Look at this graph, showing funding for campaigns for election to the House of Representatives, 2011–2012.
What is the most logical conclusion that can be drawn from this graph?
Both parties are dependent on raising huge sums of money to fund their House campaigns.
PAC spending is not a significant factor when it comes to raising money for House campaigns.
The Democrats will always raise more money for House campaigns from individuals than the Republicans will.
Campaign funding laws have reduced the amount of money needed to fund House campaigns.
Answers
Answer: Both parties are dependent on raising huge sums of money to fund their House campaigns.
Explanation:
Campaigning for office is no cheap endeavour as many politicians have seen and noted. Money needs to be spent on everything from renting venues to buying stationary and so the politicians turn to donors to help.
Regardless of party affiliation, this is the reality for political campaigns which is why both parties rely on huge sums of money to fund campaigns like for the U.S. House of Reps. This is confirmed by the graph described above that shows the hundreds of millions of dollars being used to campaign for the House.
Answer:
A
Explanation:
The United States Army retains a history of all equipment acquisition from approval of requirements through funding, authorizing, fielding, and maintenance to equipment retirement. This data would be kept in a(n):
Answers
Answer:
Data Mart or info network
Explanation:
the price system: end of chapter problem circa 1200 bce, a decreasing supply of tin due to wars and the breakdown of trade led to a drastic increase in the price of bronze in the middle east and greece. around this time, blacksmiths developed iron- and steel-making techniques. a. how is the increasing price of bronze a signal? because it clears the market, where both consumers and producers are satisfied because it tells producers and consumers that bronze is getting harder to produce and needs to be conserved because it provides a prediction about the future, including when wars will start and end b. how is the increasing price an incentive? because it clears the market and both sellers and buyers are satisfied because it discourages people about the future of the economy because it rewards people who make bronze less scarce c. how do your answers in questions a and b help explain why iron and steel became more common around the same time as the increase in price? an increase in the price of bronze innovation to produce substitutes such as iron and steel. d. after the development of iron, did the supply or demand for bronze shift? the demand for bronze shifted to the right because of the availability of iron and steel. the demand for bronze shifted to the left because of the availability of iron and steel. the supply for bronze shifted to the right because of higher incentives to produce it.
Answers
Due to conflicts and the collapse of trade, there was a sharp increase in the cost of bronze in the Middle East and Greece. Around this period, blacksmiths created processes for producing iron and steel. It informs individuals that bronze is becoming more difficult to locate.
The quantity of a product that a seller is willing to offer in the market at a specific price within a specific time is known as supply, which is an economic principle. A product's supply is influenced by a number of factors, including its price, production costs, governmental regulations, and technology.
It is controlled by the law of supply, which maintains that there is a direct correlation between a product's supply and price, with other variables being the same. From one site to the next, different volumes are given at different prices.
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suppose a stock had an initial price of $62 per share, paid a dividend of $2.50 per share during the year, and had an ending share price of $72. what was the dividend yield and the capital gains yield? (do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
Answers
Dividend yield is a financial ratio that measures the annual dividends paid out by a company to its shareholders relative to its current stock price.
The dividend yield is the ratio of the annual dividend per share to the initial stock price, expressed as a percentage:
Dividend yield = (Dividend per share / Initial stock price) x 100%
Dividend yield = ($2.50 / $62) x 100%
Dividend yield = 4.03%
The capital gains yield is the percentage increase in stock price over the year:
Capital gains yield = [(Ending stock price - Initial stock price) / Initial stock price] x 100%
Capital gains yield = [($72 - $62) / $62] x 100%
Capital gains yield = 16.13%
Therefore, the dividend yield is 4.03% and the capital gains yield is 16.13%.
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Which type of power steering system relies on inputs to sense the steering
effort?
A) HPAS
B) EPAS
C) Both A and B
D) Neither A nor B
Back
50 of 61
Next
Submit All
!!!
Answers
Answer:
Hi
Explanation:
C is the correct answer
a financial plan is most influenced by
Answers
Answer: priorities and goals
Explanation: because
The financial plan is most influenced by priorities and goals Option(b) is correct.
What does Financial Plan means?Overall utilization, a financial plan is a complete assessment of a singular's ongoing compensation and future financial state by utilizing current known factors to foresee future pay, resource values and withdrawal plans.
In business, a financial plan can allude to the three essential financial assertions monetary record, pay explanation, and income proclamation) made inside a field-tested strategy. Financial estimate or financial plan can likewise allude to a yearly projection of pay and costs for an organization, division, or division.
A financial plan can likewise be an assessment of money needs and a choice on the most proficient method to raise the money, like through getting or giving extra offers in an organization A financial plan might contain forthcoming financial explanations, which are comparative, however unique, than a financial plan. Financial plans are the whole financial bookkeeping outline of an organization. Complete financial plans contain all periods and exchange types.
Therefore Option(b) is correct.
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what are the outputs of the production process with regards to goods and services
Answers
Answer: they will go faster
Explanation: it does a thing.
true or false? making the steps of your sales process buyer-centric can be as simple as changing their names a little bit.
Answers
Making the steps of your sales process buyer-centric can be as simple as changing their names a little bit. - True
Focusing on the needs and interests of the consumer rather than just trying to sell them a product includes making the sales process buyer-centric. It can be accomplished by changing the phase names in a sales process to represent the viewpoint of the buyer. The business can refer to the initial phase as prospecting rather than finding potential clients. This makes it easier to hunt for people who could benefit from what the business offers rather than just finding people to sell to.
The sales process can also include understanding the consumer's wants and pain points. it is essential for the firm to understand what the buyer is looking for and how their product can help solve their problems. The firm can also offer value to the buyer through education, advice, and other resources that can help them make an informed decision.
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When an employee is terminated, IS administrators should receive advance notice so that they can ________.
Answers
When the employee is terminated the IS administrators should receive advance notice so that they can remove the user account and password.
By terminated, this means that this employee has ceased to be a worker of the organization. As a person that no longer works there, it would be of no use for them to still have access to company facility.
If the user account and the password is not removed, this employee would be able to find his way into the database of the company. He would still have a hold on confidential information.
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From each paycheck of your afterschool job, you’re able to save $45 toward the coat. You get paid twice a month. How many months will it take you to save enough money to buy your North Face jacket.
Answers
Answer:4
Explanation:The total in 4 months would equal 360
4 months will it take you to save enough money to buy your North Face jacket.
Saving per month based problem;What information do we have?
Amount save per paycheck = $45
Amount of jacket = 350 (Missing data)
Amount save per month = 2 × Amount save per paycheck
Amount save per month = 2 × 45
Amount save per month = $90
Number of months need = 350 / 90
Number of months need = 3.88
Number of months need = 4 months
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