Answer:To allocate scarce goods and resources, a market economy uses non-price rationing preferential treatment price rationing . this means that individuals will get the goods and services if they have the ability to pay meet the government's requirements stand in line at the store.
Explanation: hope this helps u! (:
Answer: D) present value of the remaining lease payments.
Explanation:
When recording a capital lease in the balance sheet of the lessee, the amount recorded is the<em> lower amount </em>between the present value of the remaining lease payments or the cost of the leased asset.
As the <em>cost</em> of the leased asset is <em>equal</em> to the <em>initial</em> present value of the payments, the cost will therefore be higher than the current present value of the remaining payments so the appropriate amount to put in the balance sheet will be the current present value of the remaining lease payments.
How much the money you have !!!
Answer:
$1,575
Explanation:
We will clasify the item "revenue" or "not":
- Received $1,050 cash for services provided to a customer during July -> yes, this is revenue
- Received $5,000 cash investment from Bob Johnson : not revenue
- the owner of the business Received $900 from a customer in partial payment of his account receivable which arose from sales in June: not revenue for July, but June which was booked in June revenue already
- Provided services to a customer on credit, $525: yes, this is July revenue though it's still on account receivable
- Borrowed $7,500 from the bank by signing a promissory note: not revenue
- Received $1,400 cash from a customer for services to be rendered next year: not July revenue, it's customer advace and might be next year revenue once services are completed
So the amount of revenue for July = Received $1,050 cash for services provided to a customer during July + Provided services to a customer on credit, $525
= $1,050 +$525
= $1,575
Answer:
c) Unearned Revenue $ 500, Revenue $ 500
Explanation:
When the cash was received on August 01, no accounting services were provided so the entry would have been:
Cash Debit $ 1,200
Unearned revenue Credit $ 1,200
Unearned Revenue is a liability account
On December 31, a recognition needs to be made for the services revenue earned and hence the amount for 5 months amounting is debited to unearned revenue and revenue credited with $ 500.