Assume that you have been hired by a large international bank that is looking to develop a smartphone app to help college students with their finances, credit scores, and investments. The new product development process for the app is just beginning, and you are looking at ways that social media usage can be improved during each step of the process. Whatever new product type a firm plans to develop, it will likely follow a formal new-product development (NPD) process. Organizations increasingly use social media to evaluate potential new products. Social media are especially valuable for small businesses and nonprofit organizations, which typically have less money to spend on the NPD process. Match each social media marketing action with the appropriate step of the new-product development process.
Answers
Answer:
Determining that smartphone apps and social media aps are important parts of a bank's future plans to reach young consumers. ⇒ New Product Strategy.
Tweeting out the availability of a new smartphone app that helps young professionals manage their financial lives better. ⇒ Product launch.
Inviting younger "fans" of the bank's social media sites to have a free trial of the new smartphone app. ⇒ Test marketing.
Having a Faceb-ook discussion with consumers on what they would ideally like to have from a bank smartphone app. ⇒ Idea generation.
Creating a prototype of the smartphone app. ⇒ Product development.
Using Tw-itter to ask followers what they are willing to pay for smartphone apps. ⇒ Business analysis.
Developing a social media site that allows college students to review and provide feedback on new product ideas. ⇒ Idea screening.
Related Questions
Which per unit cost does the slope of the total cost line represent? Group of answer choices Fixed Variable. Semivariable Step-variable
Answers
Answer: Variable cost
Explanation:
The slope of a regression line is meant to represent the change in the total variable or y, as a result of a change in the number of independent observations or x.
The cost that changes during production as a result of an increase in x which is the volume of products, is the variable cost so it is the slope of the total cost line,
Slope of total cost line:
y = mx + c
y = total cost
m = variable cost. m is also slope.
x = production volume
c = fixed cost
In each scenario below, please identify the personality dimension that, according to psychologist Carl Jung, would be the most appropriate answer. Which of the following statements best describes someone who has the introversion dimension?
A. Energized by inner world of thoughts and ideas, deep interests, thinks before speaking
B. Let life happen, spontaneous, open-ended, and last minute situations are energizing.
C. Lives life organized, stable, systematic, and under control.
D. Makes decisions by analysis, logic, and impersonal criteria.
Answers
Answer:
A. Energized by inner world of thoughts and ideas, deep interests, thinks before speaking.
Explanation:
Carl Jung was a psychoanalyst and a [tex]\text{Swiss psychiatrist}[/tex]. He founded the study of analytical psychology. He is best known for his theory of the Unconscious and also for his work on the religious nature behind the psychology of the humans.
According to him, an introversion dimension of the human mind is energized by the inner thoughts and ideas, his or her interest. An introversion mind always thinks before speaking.
Introversion mainly deals with the personality where one's thought and ideas provides them confidence of themselves.
Therefore, the correct option is (A).
Measuring GDP
The following table shows data on consumption, investments, exports, imports, and government expenditures for the United States in 2018, as published by the Bureau of Economic Analysis. All figures are in billions of dollars.
Fill in the missing cells in the table to calculate GDP using the expenditure approach
Data
(Billions of dollars)
Consumption (C) 13,948.5
Investment (I) 3,650.1
Exports (X) 2,531.3
Imports (M) 3,156.7
Net Exports of Goods and Services
Government Purchases (G) 3,520.8
Gross Domestic Product (GDP)
Answers
Answer:
$-625.4 billion
$20,494 billion
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
2531.3 - 3,156.7 = $-625.4 billion
GDP = 13,948.5 + 3,650.1 + 3,520.8 - $-625.4 = $20,494 billion
g if you deposit $2,000 into an account and it earns 6% interest, how much will you have in 11 years
Answers
Answer:
Amount earned = $3320
Explanation:
Given the following data;
Principal, P = $2,000
Interest rate, R = 6%
Time, T = 11 years
To find the simple interest;
S.I = PRT/100
S.I = (2000*6*11)/100
S.I = 20*6*11
S.I = $1320
Amount earned = Principal + S.I
Amount earned = 2000 + 1320
Amount earned = $3320
Which is the right Sales Funnel?
Answers
Answer:
awareness and Discovery
The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Units to be produced 10,400 9,400 11,400 12,400
Each unit requires 0.25 direct labor-hours and direct laborers are paid $12.00 per hour. In addition, the variable manufacturing overhead rate is $1.70 per direct labor-hour. The fixed manufacturing overhead is $84,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $24,000 per quarter.
Required:
1. Prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
2. Prepare the company’s manufacturing overhead budget.
Answers
Answer and Explanation:
The preparation is presented below:
1. For Direct labor budget
Particulars 1st quarter 2nd quarter 3rd quarter 4th quarter Year
Production Units 10400 9400 11400 12400 43600
direct labor time
per unit (hr) 0.25 0.25 0.25 0.25 0.25
Total direct labor
hour needed 2600 2350 2850 3100 10900
direct labor cost
per hour 12 12 12 12 12
Total direct
labor cost 31200 28200 34200 37200 130800
2. For Manufacturing overhead budget
Particulars 1st quarter 2nd quarter 3rd quarter 4th quarter Year
Variable
manufacturing overhead 4420 3995 4845 5270 18530
Fixed manufacturing
overhead 84000 84000 84000 84000 336000
Total manufacturing
overhead 88420 87995 88845 89270 354530
Less: depreciation -24000 -24000 -24000 -24000 -96000
cash disbursement
for manufacturing overhead 64420 63995 64845 65270 258530
Four major breakfast cereal companies share a majority of the cereal market: Kellogg, Post, General Mills, and Quaker. This is an example of
Answers
Answer:
Oligopoly
Explanation:
An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.
Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.
The characteristics of an oligopolistic market structure are;
I. Mutual interdependence between the firms.
II. It's a market that is typically controlled by many small firms.
III. Difficult entry to new firms.
In this scenario, four major breakfast cereal companies share a majority of the cereal market (identical or similar products) such as Kellogg, Post, General Mills, and Quaker. Thus, this is an example of an oligopoly.
World-Tour Co. has just now paid a dividend of $2.83 per share (Div0); its dividends are expected to grow at a constant rate of 6% per year forever. If the required rate of return on the stock is 16%, what is the current value of the stock after paying the dividend
Answers
what is isomers give examples
Answers
Answer:
In chemistry, isomers are molecules or polyatomic ions with identical molecular formulas — that is, same number of atoms of each element — but distinct arrangements of atoms in space. Isomerism is existence or possibility of isomers. Isomers do not necessarily share similar chemical or physical properties.
Explanation:
I don't know
Tarnopol Learning Services (TLS) offers tutoring to high school students, college students, and adults returning to school. TLS's major product offerings include academic tutoring, standardized test preparation, and admissions consulting. Demand for standardized test preparation, which accounts for the majority of TLS's revenues, peaks before the most popular test dates. Demand for admissions consulting peaks late in the year, just before application deadlines. Demand for tutoring services varies less than demand for other TLS services, but it is highest near the end of academic semesters. Staff shortages during these times have been a persistent problem. In response, TLS is considering whether to 1) recruit and train a greater number of temporary workers during peak demand times; or 2) partner with a tutoring and testing outsourcing firm that would provide services to TLS customers using the TLS brand. An executive at TLS believes that the best way to measure the number of extra employees that TLS needs is to estimate the number of extra employees each product category requires and then add all of those estimates together. Which of the following points out a flaw in this approach??A. The largest growth area for TLS is governmental contracts, which have buying procedures that are very different from those of other customers.B. TLS currently maintains separate accounting departments in each of its regions. C. To be effective, TLS managers need to be experts in at least one of the products that TLS sells. D. TLS hopes to build sustained relationships with customers, selling the same person academic tutoring standardized test preparation, and admissions consulting. E. Communication between different marketing departments in different regions has been substandard.
Answers
Answer:
D. TLS hopes to build sustained relationships with customers, selling the same person academic tutoring standardized test preparation, and admissions consulting. E. Communication between different marketing departments in different regions has been substandard.
Explanation:
explain briefly features of creativity
Answers
Answer:
In conclusion we can say that if we want to run a creative activity in the classroom, we need to check for the presence of these four features: imagination, purpose, originality and value, and organise the process in a way that all these can be incorporated.
Explanation:
hope it helps!
Crane Corporation's computation of cost of goods sold is:
Beginning inventory $34800
Add: Cost of goods purchased 470000
Cost of goods available for sale 504800
Less: Ending inventory 72000
Cost of goods sold $432800
The average days to sell inventory for Fry are:________
Answers
Answer:
16.64 days
Explanation:
Given the above information, we will calculate the average days to sell inventories with the formula below;
Average days to sell inventories = [Ending inventory / Cost of goods sold] × 100
Ending inventory = $72,000
Cost of goods sold = $432,800
Then, Average days to sell inventories
= [$72,000 / $432,800] × 100
= 16.64 days
Therefore, the average days to sell inventory for Fry are 16.64 days
MC Qu. 98 At the beginning of the recent... At the beginning of the recent period, there were 1,470 units of product in a department, 35% completed. These units were finished and an additional 6,900 units were started and completed during the period. 1,560 units were still in process at the end of the period, 25% completed. Using the weighted average method, the equivalent units produced by the department were:
Answers
Answer:
Using the weighted average method, the equivalent units produced by the department were:
= 8,760 units.
Explanation:
a) Data and Calculations:
Units Conversion
Ending inventory 1,560
Units completed 8,370
Units available 9,930
Beginning inventory 1,470 35%
Additional units started 8,460
Equivalent units of production:
Units completed 8,370 8,370 (100%)
Ending inventory 1,560 390 (25%)
Equivalent units of production 8,760
Current market trends and consumer preferences across the globe
Answers
Answer:
Consumers Will Abandon Brands That Don’t Support Their Values In Favor Of Those That Do. How To Meet Reimagined Consumers Where They Are, Building New Loyalty & Revenue Streams. Strategy. Consumer Values. 25K Consumers Surveyed. 14 Industries.
I HOPE THIS HELPS PLS BRAINLIST?
Frank and Daniel both agreed to volunteer for a company project cleaning and organizing the district warehouse. There were to be 50 volunteers. Upon arrival, they discovered volunteer turnout was low. They were assigned to the northwest corner of the warehouse where they were to meet Trixie, who would give them their assignment. When they arrived, Trixie was nowhere to be found but they did find two push-brooms leaning against the wall. Frank took a seat on a box to wait for Trixie and his assignment. Daniel grabbed one of the push-brooms and began sweeping. While he was sweeping, Daniel thought, "This is why my desk looks so tidy, while Frank’s desk looks like a disaster." Which of the following statements is likely true of this scenario? Multiple Choice I
a. n this weak situation, Frank’s laziness trait is activated. In this strong situation, Daniel’s neurotic trait is activated.
b. In this weak situation, Daniel’s introversion trait is activated. In this strong situation Frank’s conscientiousness trait is activated.
c. In this weak situation, Daniel’s extraversion trait is activated.
Answers
Answer:
a. In this weak situation, Frank’s laziness trait is activated. In this strong situation, Daniel’s neurotic trait is activated.
Explanation:
A trait can be defined as the characteristics of a person that describes his nature and his behavior. It is the result of one's genes or are influence from surrounding or nature.
A neurotic trait of a person helps the person to deal with the stress. It is a tendency towards shyness, anxiety, etc.
In the context, it is given that both Frank and Daniel volunteered themselves for cleaning a district warehouse. They were assigned the northwest corner of the warehouse to clean. Daniel found a push-broom and started sweeping and cleaning the floor, while Frank waited for Trixie to arrive who will assigned them their job.
In this situation, it shows the laziness trait of Frank who felt too lazy to start his work before someone assigning them to him while Daniel is active and it shows his neurotic trait because of which Daniel started his job and did not waited for Trixie to come.
Thus the correct option is (a).
To report insights, researchers must combine their knowledge of business with their intimate knowledge of the research sponsor-manager gained while conducting the research.
A. True
B. False
Answers
Answer:
A. True
Explanation:
Any time you present a research report, you are combining your previous knowledge with new insights and knowledge gained while preparing the report. This applies to basically every type of new report that you prepare and even updates of prior reports. Sometimes the conditions change between the time the original report was made and the next periodic report.
The statement that researchers needs to add the knowledge of business as well as that of intimate research sponsor-manager to report insights is True.
Insights serves as the interpretations of raw data which contains some meaning in a particular context to the audience.As a researcher, that want to report an insight, there is a need to combine the knowledge gained from sponsor-manager and knowledge from business during the research.Therefore, the statement is True.
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An analysis of the income statement revealed that interest expense was $100000. Waterway Company's times interest earned was
Answers
Answer: 8.3
Explanation:
The times interest earned is used to estimate the ability of a company to pay its debt payments using income from operations.
It is calculated by the formula:
= Earnings before interest and tax / Interest expense
Earnings before interest and tax:
= Earnings before tax + Interest expense
= 730,000 + 100,000
= $830,000
Times interest earned:
= 830,000 / 100,000
= 8.3
Two years ago, Global Airlines sold a $250 million bond issue to finance the purchase of new jet airliners. These bonds were issued in at par value with an original maturity of 12 years and a coupon rate of 12%. Determine the value today of one of these bonds to an investor who requires a 14% rate of return on these securities. Is it a discount or premium bond and why
Answers
Answer:
$897
Explanation:
Calculation to determine the value today
Using Financial calculator to determine the Present value (PV)
N = (12- 2) = 10 years
I = 14%
PMT =12%*1,000=120
FV = $1000
PV=?
Hence;
PV = $896.68
PV=$897 (Approximately)
Therefore the value today is $897
Once a good or service nears the end of its product life cycle, the firm recognizes that Multiple Choice it is impossible to revert to an earlier stage of the model. it can return to an earlier stage through creative marketing. it will enjoy relatively high profits. marketing dollars spent now will provide little benefit.
Answers
Answer:
it can return to an earlier stage through creative marketing.
Explanation:
A product life cycle can be defined as the stages or phases that a particular product passes through, from the period it was introduced into the market to the period when it is eventually removed from the market.
Generally, there are four (4) stages in the product-life cycle;
1. Introduction.
2. Growth.
3. Maturity.
4. Decline.
A product that is at the decline stage is generally referred to as a failed product and wouldn't generate profit or much revenue for the manufacturer because it has little economic importance.
However, once a good or service nears the end of its product life cycle i.e it's at the decline stage, the business firm recognizes that it can return to an earlier stage where it offers satisfaction to the consumers and generate revenue, through creative marketing.
Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.
Suppose that when the price of hamburgers rises by 7%, the quantity of ketchup demanded at the current price of ketchup falls by 6%. When income rises by 12%, the quantity of ketchup demanded at the current price increases by 5%. Calculate the income elasticity of demand for ketchup.
Answers
Answer:
0.42
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.
If the absolute value of income elasticity of demand is greater than one, it means demand is elastic.
If the absolute value of income elasticity of demand is less than one, it means demand is inelastic.
Income elasticity of demand = percentage change in quantity demanded / percentage change in income
5/12 = 0.42
Duerr company makes a $67,000, 90-day, 10% cash loan to Ryan Co. The maturity value of the loan is: (Use 360 days a year.)
Answers
Answer:
the maturity value of the loan is $68,675
Explanation:
The maturity value of the loan is shown below:
= Loan amount + interest charged
= $67,000 + ($67,000 × 10% × 90 days ÷ 360 days)
= $67,000 + $1,675
= $68,675
hence, the maturity value of the loan is $68,675
A natural monopoly arises whenA. a single firm aggressively forces other competitors to exit and industry.B. a single firm has a monopoly over natural resources.C. two firms merge into a single firm in order to capture more of the market.D. a single firm can produce more cheaply than multiple firms due to a downward-sloping average total cost curve.
Answers
Answer:
D
Explanation:
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
A natural monopoly occurs due to the high start-up costs or a large economies of scale.
Natural monopolies are usually the only company providing a service in a particular region
Characteristics of natural monopolies
they have a large fixed cost The firms have a low marginal costThey occur naturally through the free market. It does not occur by government regulation or any other forceA mutual fund sold $58 million of assets during the year and purchased $64 million in assets. If the average daily assets of the fund were $216 million, what was the fund turnover
Answers
Answer: 26.85%
Explanation:
Based on the information given in the question, the fund turnover will be calculated thus:
Funds sold = $58 Million
Average Daily Assets = $216 Million
Fund Turnover = Fund Sold / Average Daily Assets
Fund Turnover = $58 Million / $216 million
= 26.85%
Both Eden's company and SAS have cultures that reflect their environments. _______ theory explains this by saying that effective organizations have cultures that are correctly aligned with their external environments.
Answers
Answer: Contingent theory
Explanation:
The Contingent theory of management believes that management cannot possibly know the best way to manage the activities of a company because things could go wrong at any time.
The theory goes further to suggest that the best bet that a company has is to try to align its internet environment to its external environment. In other words, it should align its corporate culture with the culture of the environment that it is based in.
Small businesses make up the majority of the competitive landscape for most businesses. There are approximately __________ small businesses in the United States.
Answers
Answer:
29 million
Explanation:
The Small Business Administration (SBA) is an agency of the federal government that is saddled with the responsibility of providing both managerial and financial assistance to small businesses in the United States of America. SBA was established in 1953 as an autonomous or independent agency of the government of the United States of America. Generally, it is saddled with the responsibility of providing both managerial and financial assistance and counseling to small businesses in order to bolster the American economy.
The small business administration (SBA) serves as an intermediary between entrepreneurs and investors or creditors, in order to provide them with the necessary funds required to plan, start and grow their business.
Basically, SBA provides services such as entrepreneurial development, access to funds, advocacy and contracting to small businesses (entrepreneurs) in the United States of America.
In the United States of America, majority of the competitive landscape or business environment is made up of small business enterprise.
According to the small business administration (SBA), there are approximately 29 million small businesses in the United States.
An important issue when developing a new service or changing an existing one is the question of how different the new service is compared to the current services offered by the firm. Which of the following is not a general factor to consider when determining this?a. Similarity to current servicesb. Similarity of expected customers to current customersc. Similarity to current processesd. Financial justification
Answers
Answer:
Option b: Similarity of expected customers to current customers
Explanation:
Designing Service Products
This is an essential requirements when developing a new service or changing an existing one. There is this view or notion of how different the new service is compared to the current services offered by the firm. There are three general factors to consider when determining this. It includes:
1. Similarity to current service
2. Current process
3. Financial justification
Characteristics of Product Design Process
It includes:
1. The companies often bring new products to market
2. There is an integral to success
3. It differs significantly depending on the industry etc.
The Major factors in design strategy includes;
1. Cost
2. Quality
3. Time to market
4. Customer satisfaction
5. Competitive advantage
Miscavage Corporation has two divisions: the Beta Division and the Alpha Division. The Beta Division has sales of $325,000, variable expenses of $159,600, and traceable fixed expenses of $72,800. The Alpha Division has sales of $635,000, variable expenses of $345,800, and traceable fixed expenses of $135,900. The total amount of common fixed expenses not traceable to the individual divisions is $138,200. What is the company's net operating income?
Answers
Answer:
Net operating income= $107,700
Explanation:
Giving the following information:
Beta Division:
Sales= $325,000
Variable expense= $159,600
Traceable fixed expense= $72,800
Alpha Division:
Sales= $635,000
Variable expense= $345,800
Traceable fixed expense= $135,900
We need to calculate the net operating income:
Beta division partial income= 325,000 - 159,600 - 72,800= 92,600
Alpha division partial income= 635,000 - 345,800 - 135,900= 153,300
Common fixed expense= (138,200)
Net operating income= $107,700
There are a handful of common mistakes people make when trying to
separate skill from chance. Which of the following is not one of those mistakes?
a. Hindsight bias
b. Outcome bias
c. Loss aversion
d. Narrative seeking
Answers
Answer:
c. Loss aversion
Explanation:
Loss aversion is a cognitive bias that explains where there is the pain for losing should be twice as equivalent to the gaining pleasure. It is the tendency of an individual to avoid the losses that purchase the equivalent gains. And, the term that not done the given mistake is the loss aversion
So as per the given situation, the option c is correct
Singapore is one of the leading producers of coffee in the world. However, there are a few companies in Singapore that import coffee from Brazil and India. Which of the following can Singapore establish to promote self-sufficiency?
A. Import liberalization.
B. Export incentives.
c. Import quotas.
d. complementary import policy.
Answers
Answer:
c. Import quotas.
Explanation:
An import quota is a restrictions made on the trade that specify the physical ,imit on the good quantity that could be imported in a country for the particular period of time. It is used for providing the benefit to the producers in that particular economy
So as per the given situation, the option c is correct
and, the same should be considered
Rodgers Corporation agrees on January 1, 2019, to lease equipment from Packers, Inc. for 3 years. The lease calls for annual lease payments of $12,000 at the beginning of each year. The lease does not transfer ownership or contain a bargain purchase op- tion, and is not a specialized asset. In addition, the economic life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value of the equipment. Prepare Rodgers, journal entries on January 1, 2019 (commencement of the operating lease), and on December 31, 2019. Assume the implicit rate used by the lessor is 8%, and this is known to Rodgers. E21.17 003) Use the information for Rodgers Corporation and Packers, Inc. from BE21.16. Assume that for Packers, Inc., the lessor the collectibility of the lease payments is probable, and the fair value and cost of the equipment is $60,000. Prepare Packers' 2019 journal entries, assuming the company uses straight-line depreciation and no residual value.
Answers
Answer:
Rodgers Corporation and Packers, Inc.
Journal Entries:
1. Rodgers Corporation:
January 1, 2019:
Debit Right of Use Assets $33,400
Credit Lease Liability $33,400
To record the right of use asset and lease liability with the PV.
Debit Lease Liability $12,000
Credit Cash $12,000
To record the first payment of the lease liability on January 1, 2019
December 31, 2019:
Debit Amortization Expense $10,288
Debit Interest Expense $1,712
Credit Right of Use Assets $12,000
To record the annual amortization of the right of use assets.
Packers, Inc.
January 1, 2019:
Debit Cash $12,000
Credit Unearned Lease Revenue $12,000
To record unearned lease revenue.
December 31, 2019:
Debit Unearned Lease Revenue $12,000
Credit Lease Revenue $12,000
To record the earned lease revenue.
Debit Depreciation Expense $6,000
Credit Accumulated Depreciation- Leased Equipment $6,000
To record depreciation expense for the year.
Explanation:
a) Data and Calculations:
January 1, 2019
Annual lease payment at the beginning of each year = $12,000
The Present Value of annual lease payments = $33,400.
Implicit rate = 8%
To determine the PV of the lease payments:
N (# of periods) 3
I/Y (Interest per year) 8
PMT (Periodic Payment) 12000
FV (Future Value) 0
Results
PV = $33,399.18
Sum of all periodic payments $36,000.00
Total Interest $2,600.82
Schedule of Payments
Period PV PMT Interest FV
1 $33,400 $12,000.00 $1,712 $23,112
2 $23,112 $12,000.00 $889 $12,000
3 $12,000 $12,000.00 $0.00 $0.00
Analysis:
January 1, 2019:
Right of Use Assets $33,400 Lease Liability $33,400
Lease Liability $12,000 Cash $12,000
December 31, 2019:
Amortization Expense $10,288 Interest Expense $1,712 Right of Use Assets $12,000
Packers, Inc.
January 1, 2019:
Cash $12,000
Unearned Lease Revenue $12,000
December 31, 2019:
Unearned Lease Revenue $12,000
Lease Revenue $12,000
Depreciation Expense $6,000 ($60,000 ÷ 10)
Accumulated Depreciation- Leased Equipment $6,000