MSK Construction Company
A. Journal Entries, assuming MSK acknowledges revenue over time by using the incurred costs to measure the fulfillment of its performance obligation:
20X1:
Debit Work in Process $290,000
Credit Cash Account $290,000
To record costs incurred for the contract.
Debit Accounts Receivable $260,000
Debit Unbilled Cost of Contract $90,000
Credit Contract Revenue $350,000
To record billed amount to customer and revenue.
Debit Cash Account $240,000
Credit Accounts Receivable $240,000
To log cash received from customer.
20X2:
Debit Work in Process $150,000
Credit Cash Account $150,000
To record costs incurred for the contract.
Debit Accounts Receivable $265,000
Credit Unbilled Cost of Contract $90,000
Credit Contract Revenue $175,000
To register billed amount to customer and the associated revenue.
Debit Cash Account $285,000
Credit Accounts Receivable $285,000
To document cash received from customer.
B. Journal Entries, assuming MSK records revenue at a specific point when the ownership of the completed factory is transferred to the client at project’s end:
20X1:
Debit Work in Process $290,000
Credit Cash Account $290,000
To log the costs incurred for the contract.
Debit Accounts Receivable $260,000
Credit Unearned Revenue $260,000
To document the amount billed to the customer.
Debit Cash Account $240,000
Credit Accounts Receivable $240,000
To track cash receipts from the customer.
20X2:
Debit Work in Process $150,000
Credit Cash Account $150,000
To record the costs incurred for the contract.
Debit Accounts Receivable $265,000
Debit Unearned Revenue $260,000
Credit Contract Revenue $525,000
To log the billed amount to the customer and the revenue.
Debit Cash Account $285,000
Credit Accounts Receivable $285,000
To record cash receipts from the customer.
Answer:
A. brokerage firms are increasingly posing a significant challenge to banks and other deposit-holding institutions by providing high-interest combination savings and checking accounts as well as money market accounts and various loan options.
Explanation:
As reliance on physical currency diminishes, the necessity of using banks has also declined.
Provided that appropriate security protocols are in place, no other institution can offer a safer way to save, transfer, and access your funds.
This positions brokerages as viable contenders against banks in the realm of savings and checking accounts. Given their previous association with investment activities, the funds you deposit into a brokerage can readily be moved to your investment accounts.
Answer:
Transnational strategy
Explanation:
There is a distinction between a global approach and a transnational approach.
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Hope this assists.
Good Luck.
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Answer and Explanation:
Here is the breakdown:
1. For the contribution to Mother Nature
This corresponds to sales amounting to $2,750
2. Regarding Tlaloc's value-added
It equates to
= $7,750 - $2,750
= $5,000
3. For Bob’s value added
It corresponds to
= $20,000 - $7,750
= $12,250
This process applies equally to all three.
