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Ainat [17]
2 years ago
7

as of december 31, the unadjusted balance in deferred revenue contains $5,600 for unredeemed gift cards. an analysis of the mont

hly sales indicates that $3,200 gift cards were redeemed during the month but not yet recorded. how will these transactions affect the adjustments at the end of the period?
Business
1 answer:
Masteriza [31]2 years ago
6 0

These transaction  will affect the adjustments at the end of the period by:

  • Decrease Unearned Revenue
  • Increase Sales revenue

Since the gift cards was  redeemed during the month which means that Unearned Revenue will have to be  decreased by the costs of gift cards that was redeemed during the month.

Calculated as:

Unearned Revenue=$5,600-$3,200

Unearned Revenue=$2,400  decrease

Since the gift cards was  redeemed during the month which means that  will have  increased Sales revenue by the costs of  of gift cards that was redeemed during the month.

Calculated as:

Sales revenue=$5,600+$3,200

Sales revenue=$8,800 Increase

Inconclusion These transaction  will affect the adjustments at the end of the period by:

  • Decrease Unearned Revenue
  • Increase ​Sales revenue

Learn more here:

brainly.com/question/16202816

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Maria wants to start a restaurant of her own. as she does not have any savings, she approaches her bank for money and enters an
Art [367]

Answer:

Line of credit

Explanation:

Line of credit ( LOC )-

It is the monetary value , which the bank or any credit union agrees to lend , with a predefined limit , from which the person can use the amount and then the interest is paid for the amount the person has borrowed , is known as line of credit .

In the case of LOC , a maximum limit , the interest rate and the time to repay back the amount with some minimum payments is defined beforehand .  

8 0
3 years ago
The Berkel Corporation manufactures Widgets, Gizmos, and Turnbols from a joint process. June production is 5,000 widgets; 8,750
igor_vitrenko [27]

Answer:

Allocated join cost = $66,176.47  

Explanation:

<em>The joint cost is allocated using sales. This is done by using the proportion of sales of the total which is attributed to the sales value of widget</em>

Total sales value of the three products=

(75  × 5,000) + ($50×  8,750) + ( $25×  10,000)= 1,062,500

Joint cost = $187,500.

Joint costs allocated to Widget

=  (75  × 5,000)/1,062,500  ×  $187,500. =  66,176.47  

Allocated join cost =$66,176.47  

8 0
3 years ago
Concord Corporation has 8,800 shares of common stock outstanding. It declares a $3 per share cash dividend on November 1 to stoc
sasho [114]

Answer:

Declaration date:

Dr retained earnings $26400

Cr dividends payable          $26400

Payment date:

Dr dividends payable $26400

Cr Cash                                                  $26400

Explanation:

Total dividend declared is the number of shares multiplied by cash dividend per share

total dividend=$3*8,800=$26400

On the record date no entries are required since record date, is just about verifying the bonafide shareholders.

On declaration date,dividends payable would be credited with $26,400 while retained earnings is debited.

On payment date,dividends payable is debited and cash credited

6 0
3 years ago
A company purchased factory equipment on April 1, 2015 for $160,000. It is estimated that the equipment will have a $20,000 salv
zzz [600]

Answer:

$10,500

Explanation:

The computation of depreciation expense using the straight line method is seen below;

= [Original cost - Residual value] ÷ Useful life

= [$160,000 - $20,000] ÷ 10 years

= [$140,000] ÷ 10 years

= $14,000

Using straight line method, the depreciation value is the same for the remaining useful life.

Also, from April 1 to 31 December(9 months), the depreciation expense would be;

= $14,000 × 9/12

= $10,500

Therefore, the amount to be recorded as depreciation expense at December 31, 2015 is $10,500

6 0
2 years ago
If the contribution margin is not sufficient to cover fixed expenses:Multiple Choicevariable expenses equal contribution margin.
andriy [413]

Answer:

The correct answer is C. Loss occurs.

Explanation:

If the contribution margin is not sufficient to cover fixed expenses:

The contribution margin is calculated by deducting from sales the variable components. <u>Unless the selling price is lower than unitary variable costs, contribution margin will never be negative.</u>

When the contribution margin is lower than fixed costs, the company incurs on a loss.

5 0
3 years ago
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