The company should report $20,000 in software amortization expense for the year ended December 31, year 1.
We must first decide how much of the software cost should be assigned to the first year before we can compute the amortisation costs. The average yearly revenue from software sales is $500,000 / 2 = $250,000 if the projected economic life is two years and the total software sales are $500,000. The amount of software expense to be allocated to year 1 would be $300,000 / $250,000 = 1.2 times the average yearly income if the firm had software sales of $300,000 in year 1. So, the software expense that would go towards year 1 would be $40,000 x 1.2 = $48,000. In such case, $48,000 / 2 = $24,000 would be the amortisation expenditure for the year that ended on December 31, year 1. Therefore, the business must disclose a $24,000 charge for software amortisation.
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multiple choice question a marketing researcher wants to study the factors that increase profits earned by companies. in this scenario, which of the following would be an example of a hypothesis that suggests a positive relationship between the two variables? multiple choice question. firms that spend less on advertising are more likely to earn higher profits. firms that have high attrition rates are more likely to have lower profits. firms that spend more on research are more likely to earn higher profits. firms that place importance on media relations see no rise or fall in their profits.
These are some examples of hypotheses that would indicate a favorable correlation between the two variables: The likelihood of bigger profits is higher for companies that invest more in research.
How might market research be demonstrated?In-depth or straightforward questions can be asked during interviews, a typical form of primary market research. When a company phones a current client to inquire about their satisfaction with a product they recently bought, that is an example of an interview in the context of market research.
What exactly is market research? What actions constitute a marketing research study?There are six steps in the marketing research process: the identification of the problem, the development of a solution strategy, 3. The creation of the research plan, 4. Fieldwork or data collecting, 5. Preparation and analysis of the data, and 6. Report creation and presentation.
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allen has purchased a whole life policy with a death benefit of $180,000. assuming that he dies in 10 years and the average inflation has been 4 percent, what is the value of the purchasing power of the proceeds? use exhibit 1-a. (round time value factor to 3 decimal places and final answer to 2 decimal places.)
The death benefit must be adjusted for inflation in order to determine the value of the purchasing power of the proceeds. The death benefit's value as a sum of money, or its "purchasing power," is therefore $108,607.76.
We must adjust the death benefit for inflation in order to determine the worth of the purchasing power of the money. The time value of money formula can be used to determine the death benefit's worth, adjusted for inflation: Death Benefit / (1 + Inflation Rate) equals Modified Death Benefit. ^ Span of time. In this case, there is a $180,000 death benefit, 4% inflation, and a 10-year time frame. We can calculate the time value factor and discount rate for 10 years using Exhibit 1-a. 0.675 is the time value factor. $180,000 / (1 + 0.04) equals the adjusted death benefit. Adjusted Death Benefit = $108,607.76 in 10ths.
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suppose an auto manufacturer produces 20,000 vehicles this year and only sells 15,000 of them to auto dealers. under which expenditure approach category do the remaining 5,000 vehicles fall?
A car manufacturer makes 20,000 vehicles, but only sells 15,000 of them to car dealers. The remaining 5,000 automobiles fall under the investment expenditure approach category.
What factors affect investment spending?Investment expenditures are costs incurred for brand-new capital equipment. The four types of investment include new nonresidential structures, adjustments to inventory, producer's permanent equipment and software, and residential structures. Investment increases the capital stock, and the amount of capital that is accessible to a business is a key factor in determining its productivity. Investment supports economic expansion in this way. spending by the corporate sector on finished products and services, or GDP, particularly the acquisition of useful capital goods. The macroeconomic activity that affects both short-term business cycles and long-term economic growth is heavily influenced by investment spending. The entire amount spent by all businesses on capital goods is referred to as investment expenditure.
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QUESTION 6/10
Revenue is:
1-1
A. The amount of money a company pays its employees.
C. The amount of taxes a company has to pay.
B. The amount of money a company makes from sales.
D. The amount of money a company has left over after paying
Bills
possessing the ability to read but being unwilling to do so characterizes
The term that characterizes possessing the ability to read but being unwilling to do so is "reading aversion".
What is meant by Reading Aversion?
Reading aversion or book aversion is a condition where a person has the ability to read but avoids reading due to various reasons. This can be caused by a lack of interest in reading or a negative experience with reading. It can also be caused by other factors such as difficulty in focusing or visual issues that make reading uncomfortable.
People with reading aversion may avoid reading for pleasure or even necessary reading, such as work-related materials or school assignments. This can lead to challenges in academic or professional settings and limit their personal growth.
However, it's important to note that reading aversion is not a disorder or a sign of low intelligence. People who struggle with reading or choose not to read may have other talents and strengths that are just as valuable. It's also possible to overcome reading aversion with the help of a reading specialist, therapist, or other professionals.
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if lucy earns a 6 percent after-tax rate of return, $19,000 received in four years is worth how much today?
Lucy's future value after computing based on the information provided, today will be $6,336.
Here,
$8,000 × .792 (Discount Factor, 4 years, 6%) = $6,336
A resource's future value is its worth at that time or at the moment in future. It determines the nominal future sum of money that is a given amount of money and is "worth" at a given point in the future under the assumption of a specific interest rate, or more generally, rate of return; it is the present value multiplied by the accumulation function.
Future value is important to investors and financial planners because it allows them to estimate how much an investment made today will be worth in the future. The value does not account for adjustments for inflation or other factors that might influence the true value of money in the future. This is used to determine the time value of money.
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Note that the full question is:
If Lucy earns a 6% after-tax rate of return, $8,000 received in four years is worth how much today? Use Exhibit 3.1. (Round present and future value amounts to 3 places)
$8,000.
$7,544.
$8,989.
$6,336.
the step of the perception process where consumers interpret information based on their own attitudes, beliefs, motives, and experiences is known as
Option C. The step of the perception process where consumers interpret information/data based on their own attitudes, beliefs, motives, and experiences is known as: selective comprehension.
Perception is the organization, identification, and interpretation of sensory information/data to represent and understand presented information or environments.
All perceptions involve signals that pass through the nervous system. Signals are brought to the sensory system by physical or chemical stimuli. When looking, light hits the retina of the eye. Odor is mediated by odor molecules. Hearing includes pressure waves.
Perception is shaped not only by the passive reception of these signals, but also by the recipient's learning, memory, expectations and attention.
Sensory input is the process of transforming this low-level information into high-level information (eg shape extraction for object recognition).
The following processes connect a person's concepts and expectations (or knowledge) to recovery and selection mechanisms (such as attention) that influence cognition.
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Complete question:
The step of the perception process where consumers interpret information based on their own attitudes, beliefs, motives, and experiences is known as:
A. selective attention.
B. selective exposure.
C. selective comprehension.
D. selective retention.
E. selective conditioning.
The figure shows a housing market with a rent ceiling equal to $1,000. In this figure, after taking account of the resources lost insearch, what area is equal to the consumersurplus?
A.
area A
B.
area B
C.
area C
D.
area D
E.
area E
Option A. In the given figure, the area equal to the consumer surplus is shown by:
Area A
Consumer surplus is the difference between the maximum price that a consumer is willing to pay for a good or service and the actual price that they pay. In the given figure, the maximum price that consumers are willing to pay for the housing is shown by the demand curve. The rent ceiling is set at $1,000 which is below the equilibrium price of $1,500. Therefore, the quantity of housing demanded exceeds the quantity supplied, which results in a shortage of housing.
Area A represents the consumer surplus in this case, which is the area above the rent ceiling and below the demand curve, up to the quantity supplied. This is the difference between the maximum amount that consumers are willing to pay (as represented by the demand curve) and the actual price that they have to pay (the rent ceiling).
Therefore, the answer is A. Area A.
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Compared to the United States, a developing country is likely to have: A. a higher per capita income B. a lower standard of living C. a lower state of inflation D. a higher gross domestic product
Answer: B
Explanation:
B : A lower standard of living
Developing countries are not fully formed yet, which would lead to worse infrastructure ie, lower state of living. United states is a developed country, which means higher state of living.
preliminary plans are under way for the construction of a new stadium for a major league baseball team. city officials have questioned the number and profitability of the luxury corporate boxes planned for the upper deck of the stadium. corporations and selected individuals may buy the boxes for $280,000 each. the fixed construction cost for the upper deck area is estimated to be $4,760,000, with a variable cost of $140,000 for each box constructed. (a) what is the break-even point for the number of luxury boxes in the new stadium? x
To find the break-even point for the number of luxury boxes, we need to determine the number of boxes that need to be sold to cover the total costs.
Let x be the number of luxury boxes sold.
The total cost function can be written as:
Total Cost = Fixed Cost + Variable Cost
Fixed Cost = $4,760,000
Variable Cost = $140,000 per box
Total Cost = $4,760,000 + $140,000x
The total revenue generated from selling x boxes can be expressed as:
Total Revenue = Price per Box × Number of Boxes
Price per Box = $280,000
Total Revenue = $280,000x
The break-even point is when Total Revenue equals Total Cost:
Total Revenue = Total Cost
280,000x = 4,760,000 + 140,000x
140,000x = 4,760,000
x = 34
Therefore, the break-even point for the number of luxury boxes in the new stadium is 34 boxes. The team will need to sell at least 34 boxes to cover their total costs. If they sell more than 34 boxes, they will make a profit, and if they sell fewer than 34 boxes, they will incur a loss.
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the characteristics of consumers and organizations that marketers use to divide a market into segments are known as _______.
Segmentation grounds are the traits of customers and organisations that marketers use to categorise a market into segments.
Why is segmentation useful?
You can target a client or prospect more effectively by segmenting your audience based on their particular needs and interests. You can: More precisely identify the consumer categories that are most valuable to you. You may boost the return on your marketing investment by concentrating only on the consumers who are most likely to become your top customers. By determining the goods that are most likely to win over a part of a target market and the best methods for marketing and distributing those goods to that market, market segmentation helps firms lower risk.
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the apple industry was used as a supply and demand example in this video. when the price per pound of apples was $3lbs., what is the amount of surplus or shortage?
1,700 lbs is the amount of surplus or shortage at the price per pound of apples was $3lbs.
Surplus is an economic concept that refers to a situation where the quantity of a good or service supplied exceeds the quantity demanded at a given price. In other words, when there is more supply than demand for a particular product, a surplus occurs. A surplus can lead to a decrease in the price of the product, as suppliers try to sell off their excess inventory. It can also result in a decrease in production, as suppliers reduce their shareholders output to avoid further losses. Surpluses can have negative effects on the economy, as they can lead to lower profits for businesses, reduced employment opportunities, and lower overall economic growth. Managing surpluses is an important part of supply chain management and economic policy, as it helps to ensure that supply and demand are balanced in a way that is beneficial for all parties involved.
the complete question is:
The apple industry was used as a supply and demand example in this video. When the price per pound of apples is $3. what is the amount of surplus or shortage?
Select one:
a. Surplus of 1,700 lbs
b. Surplus of 1,000 lbs
c. Shortage of 1,700 lbs.
d. Shortage of 4,000 lbs.
e. Zero. The market is in equilibrium at $3/lbs.
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tam company is negotiating for the purchase of equipment that would cost $100,000, with the expectation that $20,000 per year could be saved in after-tax cash costs if the equipment were acquired. the equipment's estimated useful life is 10 years, with no residual value, and would be depreciated by the straight-line method. tam's predetermined minimum desired rate of return is 12%. present value of an annuity of 1 at 12% for 10 periods is 5.65. present value of 1 due in 10 periods at 12% is 0.322. what is the accrual accounting rate of return based on initial investment?
The correct option is (d) 10%. The accounting rate of return (ARR) calculates a rough rate of return without taking time value of money into account.
Annual savings in after-tax cash costs
It is calculated as Initial (or Average) Investment Expected Increase divided by Annual Net Income for a Project.
The rise in Tam's yearly income that is anticipated is as follows:
Annual reduction in after-tax cash expenses.
$20,000 Annual depreciation on equipment
($100,000 ÷ 10 years) = (10,000)
Increase in annual net income $10,000
Purchase requires an initial investment of $100,000.
the apparatus. Consequently, the equipment's ARR is below. Tam is taking everything into account as:
$10,000 ÷ $100,000 = 10%
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Note that the full question is:
39. Tam Co. is negotiating for the purchase of equipment that would cost $100,000, with the expectation that $20,000 per year could be saved in after-tax cash costs if the equipment were acquired. The equipment's estimated useful life is ten years, with no residual value, and it would be depreciated by the straight-line method. Tam's predetermined minimum desired rate of return is 12%.
The present value of an annuity of 1 at 12% for ten periods is 5.65. The present value of 1 due in ten periods at 12% is .322. Accrual accounting rate of return based on the initial investment is
a. 30%
b. 20%
c. 12%
d. 10%
douglas is a business professional in sales. he has a new product to promote that he believes will be very popular and that several companies will want to sell. to build connections with these companies and best be able to address any doubts about it, which approach should douglas take?
The First Step Douglas should take Douglas ought to attempt calling the businesses.
Which of the following statements is accurate for business professionals who frequently communicate with others via email or instant chats and delegate their own duties to them?They gain a reputation for being takers as opposed to givers.
What form of communication is most effective when a response is not required right away?When the sender wants a written record of the communication, when there is less urgency for a response, when they are geographically apart, when they do not need much reaction from the recipient, or when the message is complex and may take some time to understand, written media is a better option.
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5. Start with the assumptions in problem 4. But now assume that the additional volume does not enable enough economies-of-scale to reduce the average cost per case as much as originally anticipated. Assume now that the average cost per case drops only to $95. What is the new required price?
The total cost would be the average cost multiplied by the quantity, or $95 * 4000 = $380,000. The new required price can be calculated by using the formula for average cost, which is total cost divided by quantity.
In this case, the average cost is $95, so we can rearrange the formula to find the required price. The formula would be:
Required price = Total cost / QuantityWe can plug in the values for total cost and quantity to find the required price. The total cost would be the average cost multiplied by the quantity, or $95 * 4000 = $380,000. The quantity is 4000 cases. So the formula would be:
Required price = $380,000 / 4000The required price would be $95 per case. This means that the company would need to charge $95 per case in order to break even with the new average cost of $95.
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which gainsharing plan bases incentives on the ratio between labor costs and sales value of production (svop)? question 5 options: improshare rucker plan referral plan scanlon plan
The Scanlon Plan, the Rucker Plan, Improshare, and bespoke plans are the four different categories of gainsharing schemes.
The only differences between the programmes are how the bonus is determined and how much staff engagement is needed to support the scheme. The Scanlon Plan is the most traditional and often utilised kind of gainsharing plan.Gainsharing, also known as Gain sharing, Gainshare, and Gain share, is a method of management in which a company strives to achieve greater levels of performance by involving and involving its employees. Employees benefit financially when performance rises. Straight commissions, bonuses, prizes, "spiffs," rewards, and recognition are a few examples of different incentive structures. Plans for incentive compensation must be in line with business objectives, but maintaining this alignment can be challenging.
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Mariah would like to start eating healthier by making low-sugar meals. Which
of the following word searches should she use in order to get the most
specific results?
• A. "sugar'
B. 'recipes for healthy meals-low sugar"
• c. "Iow sugar recipes"
. D. "healthy eating, especially eating low-sugar meals"
before you schedule a production order, you should consider your left over inventory from last year. true or false?
Unused inventory from the previous year should be taken into account before scheduling a production order, it is true.
What does workplace inventory entail?Inventory is the merchandise or supplies that a company plans to resell to clients for a profit. Inventory management is the process of tracking inventory from producers to depots and from locations to a point of sale. It is a crucial component of the supply chain.
What do inventory skills entail?The education, training, and experiences of present employees are compiled into a skills inventory. These inventories help organizations determine whether their current workforce is capable of achieving their objectives. Strategic planning initiatives are aided by an understanding of the company's present talent pool and skill requirements in the future.
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broche technologies, a brand of electronic appliances, develops a new range of refrigerators that do not release chlorofluorocarbons. the company promotes these products as the most eco-friendly refrigerators in the market. in this scenario, broche technologies is engaging in .
Broche Technologies is engaging in green marketing.
Green marketing focuses on selling products and services based on their environmental benefits. Its features include adopting sustainable business practices, creating eco-friendly products, implementing eco-friendly packaging, communicating the environmental benefits of the product, etc.
Green Marketing by Ken Peattie (1992) in the United Kingdom and Green Marketing: Challenges & Opportunities for the New Marketing Age by Jacquelyn Ottman (1993) in the United States of America.
Green Marketing encourages production of pure products by pure technology, conservation of energy, preservation of environment, minimum use of natural resources, and more use of natural foods instead of processed foods.
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in a command economy, what is the main driving force?
In a command economy, key elements of economic output are under the supervision and direction of the government (or another central authority).
Why does a command economy operate?Government control is the main component of a command economy. The government establishes economic goals and regulates production and pricing instead of letting market forces determine the production of products and services. The state discourages or even outlaws private gains in command economies. Instead, the primary motivation driving company decisions is meeting governmental mandates. The industries that create services and products for the general public are controlled by and subject to the authority of the government.
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what do sellers do if they expect the price of a good they have for sale to increase dramatically in the near future?
When the price is raised, a sandwich shop raises the quantity of sandwiches they offer each day. If customers increase their current spending because they anticipate having more money in the future, demand rises, and D shifts right.
Expectations: If suppliers anticipate an increase in prices, they will reduce their quantity supply today and hold onto goods to resell at a higher price later. the volume of a resource, service, or item that customers are prepared and able to sell during a certain time period at a given price. • If a good's demand price increases, more of that good is supplied, all other things being equal.
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abc inc. is planning to sell its surplus equipment. this transaction should most likely be classified as:
The sale of surplus equipment by ABC Inc. would most likely be classified as a non-operating or an "other income" transaction in the company's financial statements.
What is a non-operating income?Non-operating income is income earned by a company that is not directly related to its core business operations. In this case, the sale of surplus equipment is not part of ABC Inc.'s core business activities and is therefore considered non-operating income. Other examples of non-operating income include gains on the sale of investments, rental income, and interest income.
Alternatively, the sale of surplus equipment could also be classified as an "other income" transaction, which is a catch-all category for income that is not related to the company's core business operations or investment activities.
Regardless of how it is classified, the income generated from the sale of surplus equipment would be reported on the company's income statement as a separate line item, typically under "non-operating income" or "other income."
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An ad for luxury bathrobes appears next to an article about how to create an at-home spa experience. Is this an example of contextual or data-based advertising?
Yes, this is an example of contextual or data-based advertising
A sort of financial accounting known as advertising costs includes all costs related to promoting a business, organisation, name, logo, good, or service. They include advertisements in broadcast and radio time, print and web advertisements, and direct mail advertisements. The price of advertising is frequently not a surprise to the business owner. In actuality, a lot of people have budgeted for advertising costs. The U.S. Small Business Administration states that the majority of companies base their marketing expenses on revenues. People are frequently presented with advertising in the form of a quick video, audio file (radio), or text message. The basic goal is to encourage them to buy something or do something else.
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Suppose that when the average family income rises from $30,000 per year to $40,000 per year, the average family's purchases of toilet paper rise from 100 rolls to 105 rolls per year a) Calculate the income elasticity of demand for toilet paper. (1 point) b) Based on this number, what type of good is toilet paper? How do you know? (0.5 point) c) What does the magnitude of this number tell you about the income elasticity of toilet paper? (0.5 point)
The answers for the following questions are- 1) The income elasticity of demand for toilet paper is 0.17, 2) The toilet paper is a normal good, 3) The demand for toilet paper is income-inelastic.
What Is an Elastic Thing to Changes in Income?Regardless of income, inelastic items often have the same level of demand. Even if your income increases, you'll still only need one gallon of milk or other essential necessities like gasoline each week.
What products are elastic to income?Demand increases more than proportionally to a change in income for luxury goods and services, for instance, an 8% increase in income may result in a 10% increase in demand for restaurant meals. In this case, the demand elasticity of income is 1.25.
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how much should you be prepared to pay for a 10-year bond with a 6% coupon, semiannual payments, and a semiannually compounded yield of 7.5%?
You should be prepared to pay approximately $632.29 for the 10-year bond with a 6% coupon, semiannual payments, and a semiannually compounded yield of 7.5%.
To calculate the price of a 10-year bond with a 6% coupon, semiannual payments, and a semiannually compounded yield of 7.5%, we can use the following formula:
[tex]P = (C / (1 + (r / n))^(nt)) + (FV / (1 + (r / n))^(nt))[/tex]
Where:
P = price of the bond
C = coupon payment
r = yield (in decimal form)
n = number of compounding periods per year (semiannual = 2)
t = time to maturity (in years)
FV = face value of the bond
Plugging in the values given in the problem, we get:
[tex]P = (30 / (1 + (0.075 / 2))^(210)) + (1000 / (1 + (0.075 / 2))^(210))[/tex]
[tex]P = (30 / 1.075^20) + (1000 / 1.075^20)[/tex]
P = 8.6406 + 623.6463
P = $632.29
Therefore, you should be prepared to pay approximately $632.29 for the 10-year bond with a 6% coupon, semiannual payments, and a semiannually compounded yield of 7.5%.
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how much should you be prepared to pay for a 10-year bond with a 6% coupon, semiannual payments, and a semiannually compounded yield of 7.5%?
tina, the director of hr, is disturbed at the high level of turnover at her company. from exit interviews, she suspects that certain supervisors have higher dysfunctional turnover rates among their subordinates than others. in order to verify this hunch, tina should analyze turnover by department and by
Tina has to analyze employee performance ratings and turnover by department in order to verify this branch.
The stage of job measurement known as performance rating occurs when the analyst watches the worker's performance and notes a value comparing that performance to the analyst's definition of typical performance.
Performance rating improves employee performance, finds areas for training and education, places workers in positions where they may excel, and upholds equity in compensation, benefits, advancement, hiring, and firing. Most employees are curious about their performance at work. For employees to work efficiently, they require performance feedback. The key to good performance is getting timely, accurate, constructive feedback to an employee. Goal-setting and other motivational techniques rely on frequent performance reviews. Although there are numerous potential sources of mistake when rating performance, they can both be minimised by using behaviorally anchored rating scales and rater training. Such scales are employed in industrial and organisational psychology to precisely identify the behaviours that characterise subpar, mediocre, and excellent performance.
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Give 3 situations in which the credit bureaus would have to provide you an additional free report.
1. Adverse action has been taken against you based on information on your credit report.
2. You are unemployed and seeking employment.
3. You are receiving public welfare assistance.
What time will the next free credit report be available?If any of the following apply to you, you can receive more reports for free: You were informed that, as a result of your credit report, you had been refused credit, insurance, employment, or that you had encountered another "adverse action".
Where can I find my credit report?Each of the three credit reporting agencies must provide you with a free yearly credit report, and this is what you are entitled to on AnnualCreditReport.com. Equifax, Experian, and TransUnion are a few of these organizations. Many individuals are struggling financially as a result of the COVID-19 outbreak.
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cost of goods sold, sales revenue, income statement jasper company provided the following information for last year: line item description numerical data sales in units 280,000 selling price $12 direct materials 210,000 direct labor 565,000 manufacturing overhead 110,000 selling expense 437,000 administrative expense 854,000 last year, beginning and ending inventories of work in process and finished goods equaled zero. required: calculate the cost of goods sold for last year. fill in the blank 1 of 1$
The total cost of goods sold (COGS) for the year is computed as the sum of all manufacturing expenses. Manufacturing expenses in this scenario comprise direct materials, direct labor, and manufacturing overhead.
COGS = Cost of Goods Sold + Direct Labor + Manufacturing Overhead COGS = $210,000 + $565,000 + $110,000 COGS = $885,000 As a result, the cost of products sold for the previous year was $885,000. The total cost of goods sold (COGS) for the year is computed as the sum of all manufacturing expenses. Manufacturing expenses in this scenario comprise direct materials, direct labor, and manufacturing overhead. cost of goods sold, sales revenue, income statement jasper company provided the following information for last year: line item description numerical data sales in units 280,000 selling price $12 direct materials 210,000 direct labor 565,000 manufacturing overhead 110,000 selling expense.
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in terms of staffing, the responsibility of line management isgroup of answer choicesto make final decisions on entry-level hires and promotions.to perform a job or competency analysis.to develop legally sound performance management systems.to investigate employee complaints.
The responsibility of line management in terms of staffing is A. to make final decisions on entry-level hires and promotions.
What is staffing?Finding, choosing, analysing, and establishing a working rapport with present or potential employees is referred to as staffing. Finding qualified applicants to fill the various positions inside the firm is the major objective of staffing.
A company's staffing management comprises of the procedures, techniques, and plans required to locate, hire, and keep employees. This covers all aspects of finding candidates, hiring talent, integrating new personnel, and keeping staff.
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on september 1, tsang company began a contract to provide services to wilson company for six months, with the total $21,600 payment to be made at the end of the six-month period. equal services are provided each month. the firm uses the account fees receivable to reflect amounts due but not yet billed. what proper adjusting entry would tsang company make on december 31, the end of the accounting period (no previous adjustment has been made)?
The adjusting entry would tsang company make on december 31, the end of the accounting period would be:
1. Fee Receivable= Debit 14,400
2. Service Fees Earned= 4/6 x 21600
Credit 14,400
Adjusting entries are journal entries that are typically made at the conclusion of an accounting period in order to properly allocate income and expenses to the time periods in which they actually occurred.
Under accrual-basis accounting, the revenue recognition principle serves as the foundation for adjusting entries related to unearned and accrued revenues. Because they are made on balance day, they are occasionally referred to as balance day adjustments.
According to the accrual accounting matching principle, revenues and related costs are recorded during the same accounting period. However, the actual money might be paid or received at a different time.
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