"in year 1, costello company performed $14,000 of services for a customer who paid immediately. it also incurred $6,000 of wage expenses but did not pay employees until year 2. if costello uses the accrual-basis of accounting, then costello will report"

Answers

Answer 1

Answer: revenue of $14,000 and expense of $6,000 in Year 1.

Explanation:

In accrual accounting, it should be noted that for this accounting method, the revenue or expenses that are made by the individual or company will be recorded as at the time that the transaction took place and not when the payment for the transaction was gotten.

Since Costello company performed $14,000 of services and also incurred $6,000 of wage expenses, then Costello will report revenue of $14,000 and expense of $6,000 in Year 1.


Related Questions

Facial expressions aid in all of the following EXCEPT?
O Setting the tone of the conversation
O Providing feedback
O Providing clues of audience comprehension
Breaking through the stress in the room

Answers

Answer:

Breaking through the stress in the room

How often should businesses perform cash drops?
A. Only once, at the end of the business day
B. Only once a month, once all the receipts are totaled
C. Whenever someone makes incorrect change for a customer
D. Whenever the total amount of cash in a register has reached a
certain level

Answers

Answer:

d.

Explanation:

Businesses should  perform cash drops Whenever the total amount of cash in a register has reached a certain level. The appropriate response is option D.

What is cash drops ?

A cash drop is a sum of money that is taken out of the cash drawer and deposited in the safe or at the bank. You are allowed to take as many drops and as much money as you want. Usually, cash drops are done to take extra cash out of the drawer and put it somewhere else.

Cash drops are typically carried out to remove extra cash from the drawer and deposit it in the safe until the balance can be tallied. It is a sum of money that is taken out of the cash drawer and deposited in the safe or at the bank

When the total quantity of cash in a register reaches a certain threshold, businesses should do cash drops.

Hence, the appropriate response is option D.

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Which of these is a way to increase your resources for higher education?
A. Getting a job and saving money
B. Choosing the most expensive school you can find
C. Spending more than you have
D. Not taking out any loans whatsoever

Answers

Answer:

A

Explanation:

by getting a job you are preparing yourself for the world ahead of you and by saving money you get access money to use later on.

Answer:

A

Explanation:

The cost of a postsecondary education increases with the length of time involved in the program. O True or False NEXT QUESTION O ASK FOR HELP​

Answers

Answer:

true

Explanation:

who knows where you cant get your mom to stop yelling

Answers

Answer:you cant my parents do the same

Explanation:

theres no help

Answer:

if u mom yells at you for a certain (for example if she yells at u for not cleaning up then u should maybe clean  so she wouldn't have to yell at u for that reason)

Explanation:

tutor can be inexpensive or possibly free t or f​

Answers

Answer:

T true on e2020

Explanation:

Answer:

True

Explanation:

I took the test and got a 100%

An increase in the price of peanut butter will:

a. Cause the demand curve for jelly to shift to the left.
b. Cause the demand curve for jelly to shift to the right.
Oc. Cause the demand curve for peanut butter to shift to the right.
Od. Cause the demand curve for peanut butter to shift to the left.

Answers

Answer:

a. Cause the demand curve for jelly to shift to the left.

Explanation:

Peanut butter and jelly are complementary goods. These are products manufactured and sold independently but used together. Complimentary goods give higher utility to customers when used in conjunction.

Complementary goods have a joint demand. If the demand for one product increases, demand for the other good also rises. An increase in the price of butter results in a reduction in its demand. The demand for butter will experience movement along the demand curve.

Jelly will also experience reduced demand as a result of a decline in the demand for peanut butter. Because the reduced demand for jelly is for reasons other than a price change, the demand curve for jelly shifts to the left.

If there is an increase in the price of peanut butter, this will b. Cause the demand curve for jelly to shift to the right.

Relationship between Peanut butter and jelly. They are known as complementary goods. They are used together so price changes to either will affect the other as well.

With the price of peanut butter increasing, less people will want to buy it. Those people who don't want to buy it will also not want to buy jelly which would lead to the demand curve for jelly shifting left.

In conclusion, option B is correct.

Find out more about complementary goods at https://brainly.com/question/1354329.

yo my old account got disable so i'm on this account plz help me get back up to the top

Answers

Okay.





........................................

Job satisfaction can be lost for all of the following reasons EXCEPT:
a.
Lack of opportunities for promotion
b.
Bickering with co-workers
c.
Being recognized for a job well done
d.
Having little or no say in decisions that affect you

Answers

Answer:

Being recognized for a job well done

Explanation:

Using open body language helps send which kind of message?
Positive
Negative
Aggressive
Passive

Answers

Explanation:

positive there you goo

Answer:

Positive

Explanation:

Body language is a mix of gestures, postures and expressions. Use it to improve your communication with others. This also helps seem more engaged

Why do you think the graphic designer might have a hard time seeing eye to eye with a copywriter. Help me please!!

Answers

Answer:

A graphic designer focuses on the visual marketing of yhings/services. A copywriter sales with the power of words

ps: you should look up Dan Lok copywriting.

Cupola awning corporation introduced a new line of commercial awnings in 2018 that carry a two-year warranty against manufacturer's defects. Based on their experience with previous product introductions, warranty costs are expected to approximate 3% of sales. Sales and actual warranty expenditures for the first year of selling the product were:

Answers

Answer and Explanation:

1. Yes, this situation represents a loss contingency.

The occurrence of warranty liability is probable and the amount can be reasonably estimated so it represents a contingent liability.

2.

a. Accounts receivable Dr, $5,780,000

        To Sales $5,780,000

(Being the sales is recorded)

b. Warranty expense Dr, $173,400 (5,780,000 × 3%)

        To Estimated warranty liability $173,400

(Being the warranty expense is recorded)

c. Estimated warranty liability Dr, $38,500

         To Cash, wages payable, parts and supplies, etc. $38,500

(Being cash paid is recorded)

3 .Liability = $173,400 - $38,500

= $134,900

In two or three sentences, explain why real GDP per capita does not reflect the actual distribution of wealth.

Answers

Answer:

Real GDP per capita shows the level of output in a country divided equally by the number of people living in a country. But, in reality, output may not be distributed equally among everyone in the country.

Explanation:

Question 12 of 40
Eric wants a new motorcycle. He visits a local motorcycle shop and finds one
that has all the features he's looking for. The salesperson tells Eric the
motorcycle is currently selling for $2,000. Not too long ago, Eric saw that
same make and model for $1,700 at another shop. Eric suggests a price of
$1,500 for the motorcycle and they settle at $1,800. Which of these prices is
the market price?
A. $2,000
B. $1,500
O C. $1,700
D. $1,800
SUBMIT

Answers

Answer:

D. $1,800

Explanation:

The market price is the amount that a product or service trades for, as determined by demand and supply forces. It is the most current price that a good, service, or share has traded. The market price is the actual amount that can be realized when a product or service is sold.

The market price for the new bicycle is $1800. The salesperson represents the supply side, while Erick is on the demand side of the market. They agree on $1800.  This price is where demand meet supply and is the market price.

Answer:

C. $1700

Explanation:

Imagine that you own a local fitness gym in your hometown called "U-Fit." You have done well over the last few years and have enough capital to acquire another hometown company, "Power Kore, " that makes nutritional protein shakes. Why would it be a good idea for you to undertake a vertical merger or acquisition of this sort?

Answers

Answer: to increase synergies and have more supply chain control.

Explanation:

A vertical merger is when two or more companies or organizations which are in charge of the provision of supply chain functions that are different merge for a common good.

The main idea behind the merger is to help increase synergies, reduce cost, increase efficiency and productivity and also for more control of the supply chain to be gained.

A.J. And April Couch just opened a computer store in a small community. Before opening the store, they listened to their SBA counselor's warnings about the importance of having balanced experience, that is, marketing, finance, and personnel experience in the computer-store business because

Answers

Answer: about two out of three small firms close within five years of their founding

Explanation:

According to a research that was done, it was found that out of three small firms, two close within the first five years they were established.

The reasons that were said to have caused this failure were funding challenges, faulty business model, inadequate management team and marketing initiatives that were unsuccessful.

Therefore, small business owners sgoutd try as much as possible to curtail risks that could possibly lead to the downfall of the business and also make sure the consumers are willing to purchase the product at the price given and that the product satisfies their needs.

The amount of a market that a producer controls is called market share. How is market share related to pure competition?​

Answers

Answer:

pure competition ids defined as a market structure with many fully informed buyers and sellers in an identical producer and ease of entry. if there were more market shares, there would be more competition.

Explanation:

What is the definition of a team? What is teamwork? Why is learning to work well with others important in life? What is one issue that hinders you from wanting to work with other people? What is one thing you can change so you can be successful when working in teams?

Answers

Answer:

Team work is when every one comes together to do or accomplish something and the definition of team is a group of people that play for the same thing it's important in life because when you get into the real world you will have to work with other people even if you don't like them one issue that hinders you from wanting to work with other people is you don't like those other people one thing you can change so you can be successful when working in teams is try to get along with everyone else on the team.

In order to improve the cash flow of the company, neal emerald decided to postpone depositing all employment taxes a few months ago. he told his sales manager, " i’ll pay up before the irs catches up with me." what risks does emerald face by not upholding his responsibility for the collection and payment of employment taxes? is this ethical if he indeed does pay before he gets caught? why or why not?

Answers

The correct answer to this open question is the following.

No, it is not ethical.

The risks that Emerald faces by not upholding his responsibility for the collection and payment of employment taxes is that, first of all, this is not correct. He has an obligation, a moral and a fiscal obligation to report on time the employment taxes. That is why his actions are not ethical although he indeed does pay before he gets caught. That decision could be a business decision to buy some time and trying t fix other problems, but a true leader does not need to cover things with wrongdoings. What can of example is he showing to his employees?

Later on, on another occasion, he won't have the moral authority to demand ethical behavior from his employees. He is not setting an example.

What are the opportunities of an entrepreneur

Answers

definition: the skill and risk taking ability of the person who brings the other resources or factors of production together to produce a good or service e.g. the owner of a business. These people are called entrepreneurs

Opportunities of an entrepreneur:
• involves the sale or lease of any product, service, equipment that will enable the purchaser-licensee to begin a business.
• invest in (multiple) businesses
•quality content
• foreign markets
•crowdfunding

You are a consultant helping to turn around a factory that hasn't adapted to modern manufacturing standards. They receive several truckloads of raw materials each day, which are recorded by hand in a logbook kept at the loading dock. Each of the salesmen keeps a running tally of orders and files them in the sales office. The deliveries are made once a truck is filled. What aspects of this factory can be significantly improved by introducing an EPR (enterprise resource planning) system?

environmental management
sales and revenue
human resource management
equipment maintenance

Answers

Answer:

use of modern technology

Explanation:

to make work and tallying

easy

Answer:Sales and revenue

Explanation:

This is standard business marketing

Evaluate this topic idea:
“Teachers gave 18.5% more homework in 2007 than in 2005.”
a.
The topic is satisfactory
c.
The topic is too narrow
b.
The topic is too broad
d.
This is a thesis statement

Answers

Answer:

C. The topic is too narrow

hope this helps! :)

An academic evaluation of the topic, “Teachers gave 18.5% more homework in 2007 than in 2005” shows that d. This is a thesis statement.

What is a thesis statement vs a narrow topic?

A narrow topic lacks breadth, making it impossible for a meaningful discussion of the topic.

A topic should have some breadth, with the thesis statement narrowing it down to a manageable length.

A thesis statement states the author's position on the topic.

Thus, an evaluation of the topic, “Teachers gave 18.5% more homework in 2007 than in 2005” shows that d. This is a thesis statement.

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Because selling revolves around working and interacting with other people,
skills are probably the most important skills for sales associates.
O A. organizational
O B. interpersonal
O C. logic
O D. psychological

Answers

Answer:

B. interpersonal

Explanation:

Interpersonal skills are the traits that one exhibits when interacting or communicating with others on a face-to-face basis. They are also called people skills. Interpersonal skills revolve around the ability to interact and build relationships with others. They include personal attributes on how to handle different social situations.

Salespeople require excellent interpersonal skills to acquire and retain customers. People skills are essentials in sales. They enable the salesperson to communicate, convince, and form lasting relationships with clients.

Answer:

b.

Explanation:

Which one of the following is not considered a scarce resource? *

Capital Resources

Human Resources

Natural Resources

Intellectual Property Resources

Answers

Answer:

Intellectual Property Resources

Explanation:

Scarce resource refers to a type of reserouces that has limited amount.

Intellectual property resources are generated from a person's mind. It counted the economic value of ideas, innovation, design, or creativity that people have. Since all people can generate these things without any limit, we don't consider Intellectual property as a Scarce resource.

explain how to maintain the cleanliness and sanition in your work area​

Answers

Answer:

To regularly sanitize with sanitizing wipes and to make sure your hands are clean to whether by washing with soap and water or to sanitize.

Disinfect regular and always make sure you are cleaning your hands

what kind of sugar is primarily used in preparing icing?​

Answers

Answer:

granulated sugar

Explanation:

powdered sugar or confectioner's sugar is finely ground granulated sugar that is mixed with a small amount of cornstarch to prevent caking.

What should you bring to an interview? When should you arrive at the interview? How should you act at the interview?

Answers

Answer:Arrive at the interview about 30 minutes before hand just in case you go in early or if they have to push it back. At an interview just act like yourself, don't try and be someone your not just to wow the person. And what to bring to an interview? well your paperwork if they gave you any, your phone if you need to put something in your calendar right then and there or add someone's number.

Explanation:

Materials derived from natural resources clearly defines which of the following?
A.Processed goods

B.Raw goods

C.Finished goods

D.Intangible goods

Answers

Answer:

B.Raw goods

Explanation:

Natural resources are useful materials extracted from the earth for use in the production of other goods. The extracted materials are refined into final products or used as raw materials to make other goods.  For example, gold and oil are extracted and refined into marketable products.  Water and wood are raw materials used in producing paper.

Natural resources come from nature. They are extracted raw and processed into other products or used as raw materials to produce other goods.

Which of the following are valid reasons to deny someone a job?



-The company is not hiring for new positions.
-This job requires someone with a high school diploma.
-The job requires someone be able to speak French.

Answers

Answer:

The first one and last one.

Explanation:

If this could be 2 answers I think it would be both of these. That is because if the company is not hiring, they most likely won't even look at your resume. Also another one is if you don't speak French, than that job is not for you.

Answer:

you left out an answer.

its a,c,d

Explanation:

If scientists discover that eating bacon reduces cholesterol levels:

a. The demand for bacon will increase.
b. The demand for bacon will decrease.
c. There will be fewer pounds of bacon consumed.
d. There will be no effect on the consumption of bacon.

Answers

Answer:

a. The demand for bacon will increase.

Explanation:

Scientists and other experts are known to influence customer perceptions of consumer products. Many customers make buying decisions based on expert opinions and reviews, which can greatly impact sales.

If scientists say that eating bacon reduced cholesterol, consumers' perceptions of bacon will change. Since this is positive or desired news, customers will increase bacon consumption. Bacon will attract many new customers, which will lead to an increase in its demand.

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