Answer:
cash 20,000,000 debit
unearned revenue 20,000,000 credit
Explanation:
Record the advance collection of $20 million for iTunes gift card.
When a gift card is sold, Apple Inc assume the obligation of latter provide iTunes in the near future or do cash reimbursement therefore; this isn't revenue. It is a liability. Apple will generate revenue when the gift ard are redeem not at sale.
Answer: 12 months
Explanation:
Let's assume I want to get a 2007 Volkswagen Jetta $12,000, which has a very good review. I'll need to save for 12months to get $6000 then add $6000 which would be given to me by my parents, at the end of 12months I would be able to get the 2007 Volkswagen Jetta which goes for $12,000.
A company has quick assets of $ 300,000 and current liabilities of $ 150,000. The company purchased $ 50,000 in inventory on credit. After the purchase, the quick ratio would be d. 1.75.
Inventory refers to all of the gadgets, items, products, and materials held with the aid of a commercial enterprise for selling within the marketplace to earn a profit. instance: If a newspaper supplier makes use of an automobile to supply newspapers to the customers, handiest the newspaper may be taken into consideration in inventory. The vehicle can be dealt with as an asset.
Inventory is an asset due to the fact a company invests money in it that it then converts into sales while it sells the inventory. stock that doesn't promote as quickly as anticipated may become a liability.
The principle feature of stock is to offer operations with ongoing delivery of materials. To gain this feature correctly, your enterprise has to attempt to discover a sweet spot between an excessive amount and too little, without ever going for walks out of inventory.
quick assets = 300000
quick liablities= 150000
inventory on credit
quick assets = 350000
quick liablities= 200000
quick ratio = 350000/200000
= 1.75
Learn more about inventory here brainly.com/question/25947903
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Answer: International entrepreneurship
Explanation:
International business is becoming vital to more entrepreneurs and to the economy of their country. International entrepreneurship is when an entrepreneur conducts business activities across national boundaries.
International entrepreneurship leads to growth in the business and generate more revenue to the firm as nee opportunities open up. Lisa expanding her business abroad through foreign direct investment signifies international entrepreneurship.
Answer:
Net income year 2 = $21,300
Explanation:
I looked for the missing information and found this:
Year Depreciation overstated Prepaid expense omitted
1 $2,500 $2,000
2 $4,000 $2,700
If your question doesn't include the same values, just adjust the answer.
Year 2's net income = net income (year 2) + overstated depreciation (year 2) + omitted prepaid expenses (year 1) - omitted prepaid expenses (year 2) = $18,000 + $4,000 + $2,000 - $2,700 = $21,300
