The amount of revenue that should be recognized by the company is $100 (divided into Oil change, $60, and Tire rotation, $40).
What is revenue recognition?According to the revenue recognition principle under the U.S. GAAP and IFRS, revenue is recognized when some performance criteria have been met.
The principle also recognizes that revenue recognition should be based on the percentage of the value when there is more than one performance criterion involved.
Data and Calculations:Standard car maintenance services price = $100
Oil change = $75
Tire rotation = $50
Total normal cost = $125
Percentage of oil change to normal cost = 60% ($75/$125 x 100)
Percentage of tire rotation to normal cost = 40% ($50/$125 x 100)
Revenue recognition:
Oil change = $60 ($100 x 60%)
Tire rotation = $40 ($100 x 40%)
Thus, the amount of revenue that should be recognized is $100 (divided into Oil change, $60, and Tire rotation, $40).
Learn more about revenue recognition principles at https://brainly.com/question/26275324
Toryn, Inc., a major player in semiconductors, makes small investments of 5-10 percent of a firm's equity in many emerging technology companies. Toryn buys the company outright once that company's technological uncertainty resolves. The option that Toryn, Inc. uses is called a ________ option.
Toryn, Inc uses Strategic company decisions option in making decision of making of small investments and buying of the company.
What is a Strategic company decision?A strategic decisions refers to vital decisions made on the environment where the firm operates, the resources and the people who form the company.
In essence, these decisions are important because they deal with harmonizing organizational resource capabilities with the threats and opportunities.
Read more about strategic decision
brainly.com/question/26782448
BUS208 Case Studies in Business Administration
Case #2
1. Select ONE of the following (a through g).
a. A professional sports team
b. A gaming system company
c. An airline company
d. A consumer retail store
e. An automobile company
f. A computer company
2. Select a specific example of that category. For example, if you chose “a professional sports team,” you could select one of the following: Giants, Jets, Mets, Nets, Yankees, etc. Indicate the specific example you selected:
American AirLines
3. Analyze the external organizational environment for your choice. Identify at least TWO and preferably THREE aspects of EACH of the following that your choice must consider:
a. General environment
i. International dimension
1.American Airlines is the largest airline in 2020.
2. American Airlines traveled 240 destinations in the U.S, Canada,
The Caribbean and Mexico.
3.American airlines headquarters is in dallas fort worth.
ii. Technological dimension
1.Electronic wallet
2. Mobile ID
3.Virtual Assistant
iii. Sociocultural dimension
1.Ethics and human rights(provide the director with a report for unethic)
2.Sustainability and climate change
3.Give customer a great experience
(continued)
iv. Economic dimension
1.Boarding with 1 carry on & one personal item.
2.AAdvantage credit card member.
v. Legal-political dimension
b. Task environment
i. Customers
ii. Competitors
iii. Suppliers
iv. Labor market
(continued)
4. Conduct a situation analysis using a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis that assesses the environment for your selected organization.
A SWOT analysis is categorizing the information that you gathered in the environmental analysis that you performed in the first half of this case. Some of the information you listed may not qualify as a strength, weakness, opportunity, or threat, however – it may be neutral. You should have at least TWO items EACH for strengths, weaknesses, opportunities, and threats and preferably THREE aspects for at least two of these.
Positive Negative
Internal Strengths:
Weaknesses:
External Opportunities:
Threats:
Answer:
I did not know some things
What role does a company like UPS play in the supply chain?
It Isn't necessary to consider convenlence Issues when selecting a bank.
O True
O False
The Circular shape of a roundabout reduces what
What are the ethical considerations in this case
The variance analysis cycle ______. Multiple choice question. begins with the preparation of the budget includes the investigation of all variances begins with the preparation of performance reports is used to assign blame for poor performance
The variance analysis cycle C. begins with the preparation of performance reports.
What is a performance report?A performance report is at the heart of the variance analysis cycle.
The performance report details the following:
Calculates the difference between actual and budgeted expenditure and revenue.Analyzes the differences into various variances, determining if they are favorable or unfavorable or have no effects.Investigates the reasons for the differences.Puts the information together and reports to management.Thus, the variance analysis cycle C. begins with the preparation of performance reports.
Learn more about performance reports and variances at https://brainly.com/question/13287252
What do Indirect distribution channels use to sell their products to the end customers?
Question 1 options:
(A) - advertisements
(B) - middlemen
Answer:
B
Explanation:
They use middlemen men because the fastest way to advertise your bussiness is through advertising
Answer:
(B) - middlemen
Explanation:
A new accountant mistakenly classified some capital expenditures as revenue expenditures. What is the outcome of this error
Answer:
the company will understate assets and understate net income
Explanation:
how goal succession take place? explain the condition responsible for goal succession
the new or modified goals are incorporated or substituted for the existing one in such a manner that they do not change the spirit of the existing goals
The new goals are such that individuals or the organisation are willing to state publicly.
hurry!!!! (economics) This graph shows changes in GDP and the unemployment rate in the United States in recent years.
A graph titled Annual Change in U S Unemployment and G D P from 2005 to 2012 has year on the x-axis and percent of change on the y-axis, from negative 4 to 4 in increments of 2. Between 2008 and 2009 the G D P decreased by about 3 percent. Between 2008 and 2009, the unemployment rate increased about 1.5 percent. When unemployment was at the highest point, G D P was at the lowest point.
Which statement most accurately describes the trends shown on this graph?
When GDP falls, unemployment rises.
GDP and unemployment have little to do with each other.
When GDP rises, unemployment rises as well.
GDP and unemployment rise at times of world crises.
Answer:
A. When GDP falls, unemployment rises.
Explanation:
TRUE OR FALSE - ACCOUNTING (100 POINTS)
IF FALSE EXPLAIN WHY
1. The Dividends account is an expense.
2. A credit to the cash account will increase the account.
3. Liabilities are debts owed by the business entity.
4. Revenue is the Income Statement account credited when selling services or products to customers.
5. When an account receivable is collected in cash, the total assets of the business increase.
6. When a business receives a bill from the utility company, no entry should be made until the invoice is paid.
7. The revenue recognition principle states that revenue should be recorded when the cash is received from the customer.
8. An example of deferred revenue is Unearned Car Insurance Premium Revenue on an insurance company’s balance sheet.
9. A company’s accounts receivable represents an amount that the company will collect in the future from customers.
10. An adjusting entry would adjust revenue so it is reported when earned and not when the cash was received.
Answer:
1. False
2. False
3. True
4. True
5. False
6. False
7. False
8. True
9. True
10. True
Explanation:
What is one of the primary concerns of socially responsible consumers?
A. Customer service
B. Low price
C. Socialism
D. Sustainability
One of the primary concerns of socially responsible consumers is sustainability.
Who is a socially responsible consumer?A socially responsible consumer is a consumer who cares about the social impact that the products he buys have on the world around him.
It is to be noted that socially responsible consumers avoid products that they think harm society. Instead, they buy goods and services from companies that they believe do a better job of taking care of the world.
Hence, One of the primary concerns of socially responsible consumers is sustainability.
Learn more about socially responsible consumer here : https://brainly.com/question/16028821
List two basic questions belonging to the field of ethics.
Answer: Here are three basic questions of ethics:
Does your decision conflict with any of the core ethical values?
How will your decision affect others?
Are there regulations, rules, or policies that restrict your choices/actions?
Explanation:
I hope this helps!
What is the purpose of long-term disability insurance?
A. To replace a portion of a person's income if that person cannot
work
B. To provide a guaranteed loan to pay expenses until a person is
able to work again
C. To provide financial support for loved ones after a person dies
O D. To pay medical expenses if a person is hospitalized for an illness
or injury
The main purpose of of long-term disability insurance is: A. To replace a portion of a person's income if that person cannot work.
What is long-term disability insurance?Long-term disability insurance can be defined as the type of insurance coverage that help to guide a person income if the person is unable to work as a result of illness or injury.
Long-term disability insurance is important when it comes to unforeseen circumstance.
Inconclusion to replace a portion of a person's income if that person cannot work.
Learn more about Long-term disability insurance here:https://brainly.com/question/25938882
Which of these would Congress look to do during a recession, as it pertains to fiscal policy?
a. Raise taxes
b. Raise government spending
c. Decrease the discount rate
d. Print more money
Answer:
Raise taxes
Explanation:
This will help reduce the amount of money in circulation because during recession money loses its value due to large amount of money in circulation
Petropoulos Resorts common stock sells for $58.49 per share and pays an annual dividend that increases by 1.3 percent annually. The market rate of return on this stock is 12.6 percent. What is the amount of the last dividend paid
Assuming the market rate of return on this stock is 12.6 percent, the amount of the last dividend paid is $6.52.
DividendUsing this formula
PO=D0(1+g)/k-g
Let plug in the formula
$58.49 = D0× (1 + 0.013) ÷ (0.126 - 0.013)
$58.49 × 0.113 = D0 × (1 + 0.013)
6.60937=D0 × (1 + 0.013)
D0=6.60937/1.013
D0=$6.52
Inconclusion assuming the market rate of return on this stock is 12.6 percent, the amount of the last dividend paid is $6.52.
Learn more about dividend here:https://brainly.com/question/14243512
PLEASE HELP WITH THIS ASSIGNMENT
The United States is a mixed market economy based on the ideals of capitalism and a representative republic. However, some argue that the US government is too big and overreaching. Conversely, others argue the government is needed to protect consumers from deceptive business practices, and more regulation and government oversight is the answer. What are your thoughts? Is the US government too big or not big enough?
Answer:
Government is to big
Explanation:
The US government is overly expansive. Many regulations on private companies need to be removed because they only hurt small businesses and let big corporations monopolize certain markets.
What is the mixed market economy model in the USA?Due to the significant roles that both privately held companies and the government play, the United States is classified as a mixed economy. In fact, the relative contributions of the public and private sectors have been the subject of some of the longest-running discussions in American economic history.
Private ownership is emphasized by the American free-market system. The majority of goods and services are produced by private firms, and about two-thirds of the nation's total economic output is used by individuals for personal purposes. In fact, the importance of consumers is so enormous that the country is occasionally referred to as being a "consumer economy."
This emphasis on private hands stems in part from American views about individual liberty. Furthermore, most Americans believe that an economy dominated by private ownership will be more efficient than one dominated by government ownership.
Learn more about mixed market economy, from:
brainly.com/question/2343400
#SPJ2
ACCOUNTING - The matching concept
a. requires that the dollar amount of debits equal the dollar amount of credits on a trial balance
b. states that expenses related to revenue be reported at the same time the revenue is reported
c. addresses the relationship between the journal and the balance sheet
d. determines whether the normal balance of an account is a debit or credit
if we consider Airbnb to be new entrant into the hospitality short stay vacation industry. according to Porter's Five forces, how attractive is this industry? What might be particularly difficult for a new startup
The entrance of Airbnb into the hospitality short stay vacation will be attractive but there are some market threats that need to be effectively managed.
What is the Porter's Five forces?These forces are economic force that determines the competitive intensity and attractiveness of a market.
According to Porter, the Five forces in the every market includes::
threat of new market players,threat of substitute products,power of customers, power of suppliers, industry rivalryIn conclusion, the hospitality firm needs to evalute the forces to understand the industry structure and to determine the best corporate strategy for its operation.
Read more about Porter Five forces
brainly.com/question/14632175
re
Project: Prepare Scenarios Using Gidgits Galore
Assignment Directions:
Part A: Prepare your own scenarios, using Gidgits Galore as your backdrop.
1. Provide an example of a "wrongful discharge" at Gidgits Galore.
2. Provide an example of a "retaliatory discharge" at Gidgits Galore.
3. Provide an example of "disparate treatment" at Gidgits Galore.
4. Provide an example of "disparate impact" at Gidgits Galore.
5. Provide an example of a "bona fide occupational quality" at Gidgits Galore.
Length: Each scenario must be at least one-half to one page in length
The answers to the questions about work in Gidgits Galore is given below:
An example of a "wrongful discharge" at Gidgits Galore is said to be when an office supervisor tells an employee to carryout a task that is said to be against safety laws such as do a sudden urgent work that needs urgent approval and it is one that cannot wait and the employee will not be wearing safety gadget, the employee have the right to refuse and He or she cannot be fired for his or her refusal.
An example of a "retaliatory discharge" at Gidgits Galore occurs when an employee reports the director of the company for encouraging bribery in the workplace and when the employer is said to finds out about the bribery sandal and then confronts the director who then fires them for it, this can serves as an an example of retaliatory discharge.
What is an example of "disparate treatment" at Gidgits Galore?Note that the term disparate treatment connote a deliberate employment discrimination.
An example of this is making sure that only employees with master's degree in a the firm can on some good and special cases (cases or jobs that will bring big allowance if the job is done well) excluding those who came in with bachelor's degree.
An example of "disparate impact" at Gidgits Galore is telling all employees to be involved in a particular task and using results from that task given to unintentionally remove some particular minority employees disproportionately.
An example of a "bona fide occupational quality" at Gidgits Galore is When directors, supervisors and other company's employees must join a union in the company, be a member of that union (Example is National association of management, accountancy etc.) so as to be able to fulfill their job duties or requirements.
Learn more about wrongful discharge from
https://brainly.com/question/4303507
A company has the following liabilities as of December 31:
Accounts payable $150,000
Notes payable (current portion) 217,000
Salaries and wages payable 55,000
Installment notes payable 1,140,000
Interest payable 32,000
Payroll taxes payable 15,500
What is the amount of total current liabilities reported on the balance sheet?
a. $319,500
b. $469,500
c. $1,609,500
d. $437,500
Question 5 of 20
If you invest your money today, your future purchasing power will most likely
A. go up and down
B. stay the same
C. increase
O D. decrease
SUBMIT
When you invest your money, it is likely that in future your purchasing power will A. go up and down.
What will happen to your purchasing power?If you invest your money today, there is a chance that you will get back more money than you deposited, or less than you deposited.
This means that you will either have more money or less money to purchase goods and services. In other words, your purchasing power will go up and down.
Find out more on purchasing power at https://brainly.com/question/2286004.
Commonwealth Delivery is the world's leading express-distribution company. In addition to the world's largest fleet of all cargo aircraft, the company has more than 670 aircraft and 57,000 vehicles and trailers that pick up and deliver packages. Assume that Commonwealth Delivery sold a delivery truck that had been used in the business for three years. The records of the company reflected the following:
Delivery truck cost $42,000
Accumulated depreciation 26,800
Required:
Prepare the journal entry for the disposal of the truck, assuming that the truck sold for: a. $15,200 cash
b. $16,500 cash
c. $14,000 cash
Answer:
the answer is Eva b e c Odyssey
Microsoft receives a cash payment in advance for cloud services is an example of
a. prepaid expense
b. accrued revenue
c. unearned revenue
d. accrued expense
On December 31st a calendar year corporation
owes employees unpaid payroll
a. prepaid expense
b. accrued revenue
c. unearned revenue
d. accrued expense
how can both stocks and bonds generate a positive return for investors
A. paying dividends
B. Paying Interest
C. Tax Deduction
D. Price Appreciation
A stock and bond can generate a positive return for investors by tax deduction.
What is a stock and a bond?
A bond is a debt instrument used by businesses to raise capital needed for business operations. Bondholders earn interest on the amount invested and at the maturity of the bond, they are paid back the amount invested.
A stock gives the holders ownership right in the company. Shareholders are paid dividends and when the value of the company appreciates, the wealth of shareholders increases.
To learn more about bonds, please check: https://brainly.com/question/13326746
Which of the following are considered "free money" when it comes to
financing higher education?
Loans
Work-study programs
Military programs
Scholarships and grants
The option that can be considered free money when it comes to financing higher education is: Scholarships and grants.
What are grants?Grant is a monetary fund given by a public entity or a charitable foundation or a specialized grant making institution to an individual for a specific purpose.
Grants and scholarship does not need to be paid back by individuals. Therefore it can be considered free money when it comes to financing higher education.
Learn more about Grants here:
https://brainly.com/question/1559476
Which of the following is NOT a common way businesses pay employees?
Answer:
yearly
Explanation:
Hope this helps:)...if not then sorry for wasting your time and may God bless you:)
A physical count of merchandise inventory on November 30 reveals that there are 82 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 25 units from each of the three purchases and 7 units from the November 1 inventory, cost of goods sold is
After computing the cost of inventory that was sold, The Cost of Goods sold is given as $1,334.30.
The calculations related to the exercise are as follows:From the information provided (see full question attached),
Inventory at hand as at November 1:
there are 29 Units of Inventory at the cost of $5.90 dollars each.Purchases:
118 units are purchased at $6.30 dollars each;59 units are purchased at $6.15 dollars each; and88 units are bought at $6.50 dollars each.If at the end of the period there are 25 units each form the purchases above and 7 from the existing inventory as at Nov. 1st, then the cost of goods sold is:
((29-7) X 5.9) +((118-25) x 6.3) + ((59-25) x 6.15) + ((88-25) x 6.5))
= $1,334.30
Learn more about Inventory at:
https://brainly.com/question/24868116
Business transactions
Answer:
A business transaction is a financial transaction between two or more parties that involves the exchange of goods, money, or services