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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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4 0
1 year ago
What does it mean to capitalize interest
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Capitalized interest refers to interest that is added to some kind of debt and that is included in current balance accounts, as opposed to waiting to figure in the cost of interest.
6 0
3 years ago
Carter Corporation made sales of $900 million during 2016. Of this amount, Carter collected cash for $871 million. The company's
CaHeK987 [17]

Answer: (a) $295 million

(b) $326 million

Explanation:

Given that,

Sales = $900 million during 2016

Cash = $871 million

Cost of goods sold = $280 million

Expenses for the year totaled = $325 million

Paid for Inventory = $375 million

Paid for everything else = $285 million

Beginning cash = $115 million

(a) Net Income = Sales - Cost of goods sold - Expenses for the year totaled

                        = $900 - $280 - $325

                        = $295 million

(b) Carter's cash balance at the end of 2016:

= Cash + Beginning cash - Paid for Inventory - Paid for everything else

= $871 + $115 - $375 - $285

= $326 million

4 0
2 years ago
Explain the link between scarcity and opportunity cost.​
Helga [31]

Answer:

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5 0
3 years ago
Makers Corp. had additions to retained earnings for the year just ended of $261,000. The firm paid out $194,000 in cash dividend
gladu [14]

Answer:

a. $3.5 per share

b. $1.49 per share

c. $38.38 per share

d. 1.93 times

Explanation:

The computation is shown below:

a. Earning per share = (Net income) ÷ (Number of shares)

where,

Net income =  Additions to retained earnings + cash dividends

                    = $261,000 + $194,000

                    =  $455,000

So, the earning per share equal to

= $455,000 ÷ 130,000 shares

= $3.5 per share

b. Dividend per share = (Total dividend) ÷ (number of shares)

= ($194,000) ÷ (130,000 shares)

= $1.49 per share

c. Book value per share = (Total equity) ÷ (number of shares)

= ($4,990,000) ÷ (130,000 shares)

= $38.38 per share

d. Market to book ratio = (Market price per share) ÷ (book value per share)

= $74 ÷ $38.38

= 1.93 times

7 0
3 years ago
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