Answer:
Zero
Explanation:
Under the accrual method, revenue is recognized once the recognition criteria is met. These includes;
When revenue is earned but cash is yet to be received,
Debit Accounts receivable
Credit Revenue account
When cash is received,
Debit Cash account
Credit Accounts receivable.
Since the items were delivered in April, any amount received as revenue in March will be deferred. As such, no revenue will be recognized in the income statement for March.
Answer:
a. $3,000 Favorable
Explanation:
Variable cost variance is the difference between the budgeted variable cost and actual variable cost for a period.
Use following formula to claculate the variable cost variance
Variable cost variance = Budgeted Variable cost - Actual variable cost
Placing values in the formula
Variable cost variance = Budgeted Variable cost - Actual variable cost
Variable cost variance = $23,000 - $20,000
Variable cost variance = $3,000
As the actual cost is less than the budgeted cost, so the $3,000 is saved in respect of variable cost.
the Messing Company's January 1 notebook entry reads: Cash $3,860
Credit cost: 140
Sales 4,000
A sale is an agreement between a buyer and a seller in which the seller exchanges money for the sale of tangible or intangible products, assets, or services. There are two or more parties involved in a sale. A sale, or a contract between two or more parties, such as the buyer and seller, can be thought of in larger terms.
Messing Company's January 1 notebook entry reads: Cash $3,860
Credit cost: 140
Sales 4,000
Therefore, the Messing Company's Sales are 4,000
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Answer:Cash $3,860
Credit expense 140
Sales 4,000
Explanation:
The additional spendable income will each investor have if the business is organized as a partnership rather than as a corporation is $22,100.
Income if formed as corporation in hands of each shareholder should be
= 1,000,000 × 10% × ( 1- .34 ) × (1- .35)
= 100,000 × .66 × .65
= $42,900
Now
Income will be taxable in hands of partner = 1,000,000 ×10% ×(1-.35)
= 100,000 ×.65
= 65000
Now
Additional income should be
= $65,000 - $42,900
= $22,100
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Answer:
$22,100
Explanation:
Calculation for the additional spendable income
First step is to find the Corporation Spendable income amount
Corporate taxes$340,000
($1,000,000*34%)
Income after corporate tax $660,000
($1,000,000-$340,000)
Tax on dividends $231,000
($660,000*35%)
Spendable income $429,000
($660,000-$231,000)
Second step is to find the Partnership Spendable income amount
Taxes paid by business $0
Income received by investors $1,000,000
Taxes paid by partners as personal income $350,000
($1,000,000*35%)
Spendable income $650,000
($1,000,000-$350,000)
Last step is to find the Difference between Corporation Spendable income amount and the Partnership Spendable income amount
Using this formula
Difference in Spendable income=Corporation Spendable income amount - Partnership Spendable income amount
Let plug in the formula
Difference in Spendable income=$429,000-$650,000
Difference in Spendable income=$221,000
Which means that the amount of $221,000 is the
Total gain amount from being a partnership.
Hence, the Individual investor gain will be calculated as $221,000*10%
Individual investor gain=$22,100
Therefore the amount of spendable income that each investor will have if the business is organized as a partnership rather than as a corporation will be $22,100
Answer:
Yes Rapid prototyping can be an efficient way to do instructional design. Rapid prototyping is an instructional design approach which combines design, developmental and evaluation process. it is also a non-linear approach.
Explanation:
As a non linear approach, Rapid prototyping produces a sample working model that is a scaled-down representative version of the whole course. Rapid prototyping can be seen as an alternate approach to the traditional instructional design.
Instructional design is defined as the systematic approach to the development of instruction through the use of analysis, design, development, implementation and Evaluation. Designers can make use of Rapid prototyping or rapid instructional design when they face these factores; Time, budget and Environmental restraints.
Rapid prototyping is a very practical model for blended learning development, especially when only one person is involved. Rapid prototyping allows for learning as even the instructional designer is learning too.
B. the account that includes transactions like imports and exports, income earned by Americans abroad, and net transfers to other countries.
C. the national income account that tracks all purchases made by businesses within the last six months.
Answer:
The account that includes transactions like imports and exports, income earned by Americans abroad, and net transfers to other countries.
Explanation:
A current account can be defined as an account that record the different transactions a country carries out with another country. A current account comprises of net primary income, earnings from foreign investors that have occurred within a particular period of time.
Almost all countries are involved in trading of goods and services with another country, a current account helps to evaluate the manner in which a particular country traded their different goods with foreign markets.There tends to be a postive balance of a country exports more goods than it imports.
Answer:
July 1st: Debit Cash=$1,200 Credit Interest Received=$1,200
December 31st: Debit Interest Receivable=$1,200, Credit Interest Earned= $1,200
Explanation:
July 1st Receipt of Interest
Step 1: Calculate Interest Receivable for the entire Year
=($40,000×6%)= 40,000×0.06= $2,400
=$2,400
Step 2:Calculate Interest Receivable for the first 6 months (Semi-annual Payment)
January 1st to July 1st is 6 Months, we therefore divide the annual interest receivable into 2
$2,400÷2=$1,200
Step 3: Entries for the July 1 Receipt of Interest
Debit Cash = $1,200
Credit Interest Received=$1,200
Step 4: Calculate the Interest Accrual for the Decembe 31st
Between July 1st and December 31st is equally 6 months, therefore, the remaining $1,200 is for the second half of the year.
Step 5: Entries for December 31st Interest Accrual
Debit Interest Receivable = $1,200
Credit Interest Earned= $1,200