Reference no: EM132759906
Problem 1: During September 2018, $48,000 of annual magazine subscriptions were sold by GreatTaste Magazine. The subscribed magazines are delivered on the first day of each month beginning on October 1, 2018. Determine the amount of revenue to be recognized during 2018 and 2019, respectively.
Problem 2: In discussing the operation of his automobile, a doctor once observed that gasoline is a fixed cost because the cost per gallon is relatively stable. Insurance, on the other hand, is a variable cost because the cost per mile varies inversely with the number of miles driven. Comment on the doctor's observation. transactions indicate how much will be reported in the income statement and the balance sheet on Dec. 31, 2018
Mar. 1, 2018 Purchased a one-year insurance policy for $8,400 cash
July 2, 2018 Purchased a truck for $565,000. The truck is expected to live for 6 years and expected to have a residual value of 35,000. The company uses straight line method to depreciate such asset.
Sept. 1, 2018 Received $6,300 rent from a tenant as an advance rent for a warehouse for the period from Sept. 01, 2018, to May. 31, 2019.
|
How long does mr z have to pay before account is overdue
: 400 units of inventory at a unit price of P125. Miss X, the supplier, offers terms of 1/10, net 30. How long does Mr. Z have to pay before account is overdue.
|
|
Marketing and the health care system
: Determine the direct impact of marketing for the health care provider you selected. Outline a marketing strategy for the health care provider you selected.
|
|
Provide the journal entries recorded on june
: Provide the journal entries record. Compute the 2014 and total income effect, assuming that the investment was classified as available-for-sale securities.
|
|
Examining the value of auctions in the economy
: Write an essay examining the value of auctions in the economy by addressing the following items. Explain the difference between oral auctions and second-price.
|
|
Determine the amount of revenue to be recognized
: Determine the amount of revenue to be recognized during 2018 and 2019, respectively. During September 2018, $48,000 of annual magazine subscriptions
|
|
How inefficient and unattainable can be experienced
: You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T.
|
|
Discuss the steps necessary to carry out each activity
: Discuss the steps necessary to carry out each activity. Describe briefly what each line looks like in relation to the original given line.
|
|
Evaluate how negative comments were handled
: Evaluate how the negative comments were handled by the organizations. Assess a recommendation for better communication and explain why.
|
|
Was any gains or losses made on the transaction
: On July 3, 2019, Africa Manufacturing Co. sold the machine for $285,000. Was there any gains or losses made on this transaction?
|