1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Greeley [361]
2 years ago
12

Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, an

d $50 increments. Assume Apple sells $19.5 million in iTunes gift cards in November, and customers redeem $12.5 million of the gift cards in December.
1. Record journal entries for cash receipt and for revenue earned from redemption of gift cards
2. Ending balance in deferred revenue account
Business
1 answer:
denis23 [38]2 years ago
7 0

The ending balance in the unearned revenue account is $7 millions .

<h3>Record journal entries ?</h3>

Debit: Cash. $19.7m

Credit: Unearned Revenue $19.7m

Being sales of gift card for the month of December.

Debit: Unearned Revenue. $12.7m

Credit: Sales. $12.7m

Being actual gift card redeemed for the month if December.

Unearned Revenue a/c has a credit balance of $7m as unredeemed gift card. Its a liability to the company as they have the money but the cards are yet to be redeemed.

To learn more about journal entries refer

brainly.com/question/14285397

#SPJ4

You might be interested in
A portfolio manager has maintained an actively managed portfolio with a beta of 0.2. During the last year the risk-free rate was
trapecia [35]

Answer: See explanation

Explanation:

The formula to use here will be:

required rate = risk free rate + beta × (market return - risk free rate).

where,

risk free rate = 5%

beta =0.20.

market return = -30%.

Therefore,

required return = 5% + 0.20 × (-30% + -5%)

= 5% + 0.2(-35%)

= 5% - 7%

= -2%

Therefore, the return on portfolio should have been -2% but the portfolio manager produced a return of −10%

Since -10% is lower than -2%, we can deduce that the claim of the manager is wrong.

5 0
3 years ago
.
8090 [49]

Answer: B

Explanation:

7 0
4 years ago
Read 2 more answers
Which statement is true about promoters?
AURORKA [14]

Answer:

d. handle Preincorporation transactions.

Explanation:

Promoters are those who undertake in the setting up of a company. They also does the Preincorporation work before the company is set up like floatation, incorporation, promotion and seek people's help to invest money in the formation of the company.

Stages involved in the formation of a company are

-Promotion,incorporation,capital set up and final commencement of business. The work of a promoter here is the promotion promotion of the company to be set up.

Promoters perform some other functions like identifying business ideals, investigation of business to be formed, ensure name approval and preparing documents necessary for the formation of the company.

Some of the liabilities of promoters are as follows;

- Exercise due diligence and care while performing as a promoter

-Responsible for handling Previous corporation contracts

-Secret profit should not be made by a promoter prior to the setting up of the company

8 0
3 years ago
Read 2 more answers
Large firms often find new markets attractive, but might not have products ready for delivery. What strategy do such firms use t
laiz [17]

Answer:

The correct answer is Preannounce forthcoming efforts

Explanation:

A company that wants to enter a new market usually must have its entire operation ready to be able to carry it out in the short term, and if it does not have it, it must inform by means of a strategy that allows generating a marked market interest in knowing the new product to be offered. This will give them time to put the internal aspects in order and be able to produce within a set time.

8 0
4 years ago
What may happen if your job does not require you to use the aptitudes you possess?​
Viktor [21]

Answer:

<u>they will be underused and learning new interests may become necessary.</u>

<u>Explanation:</u>

Aptitudes usually refer to a person's inborn abilities or talents which include their mental and physical skills.

For example, If Mr. John knows how to sing but finds himself working as an IT specialist for a Security company, there is a high tendency that he will underuse his singing abilities and be more interested in learning IT skills than if he was working for a Radio station.

8 0
3 years ago
Other questions:
  • Aptitudes and skills are the same thing.<br><br> True<br> False
    10·2 answers
  • In some states, dietetic technicians can work on their own.<br><br> True<br> False
    10·1 answer
  • 8(x+1)-7= 9(x-3) -x+1<br>how do I solve X?​
    15·1 answer
  • On December 31, there were 31 units remaining in ending inventory. Using the perpetual LIFO inventory costing method, what is th
    11·1 answer
  • When it comes to determining an​ organization's commitment to​ innovation, _____ can be used as a central metric. A. convergence
    12·2 answers
  • If the state of Washington's government collects $75 billion in tax revenues and total spending in the same year is $74.8 billio
    9·1 answer
  • Determining the magnitude of possible losses from a premature death can be complicated. the best method is the
    15·1 answer
  • Kate owns 1,000 shares of stock in a corporation, making her part-owner of the corporation. As an owner, if Kate enters into a c
    15·1 answer
  • Which system for tax collection supports the idea that some states are worth more than other states?
    14·1 answer
  • The process of buying an underpriced security and selling an equivalent overpriced security until the prices converge is known a
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!