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3 years ago

A person's debt ratio shows the relationship between debt and net worth. the lower the ratio the

1 answer:

3 0

A person's debt ratio shows the relationship between debt and net worth. The lower the ratio the better off the person is financially. A debt ratio is your income to debt computed amount. These amounts will let you and lenders know how financially stable you typically are. If you have a large income and large debt but are paying on it, that will help compared with not paying down your debt.

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

Leya [2.2K]

Answer and Explanation:

The Journal entries are shown below:-

1. Cash Dr, $19,200,000

To Deferred revenue $19,800,000

(Being receipt of cash for gift cards is recorded)

2. Deferred revenue Dr, $12,200,000

To Sales revenue $12,800,000

(Being revenue recognized from the redemption of gift cards is recorded)

3. The computation of ending balance in Deferred revenue is shown below:-

Ending balance in Deferred revenue = Sold apples - Redeem amount of the gifts

= $19,200,000 - $12,200,000

= $7,000,000

7 0

3 years ago

When businesses raise the price of a needed product or service after a natural disaster, this is known as .

Anon25 [30]

When businesses raise the price of a needed product or service after a natural disaster, this is known as price gouging. Price gouging is something that businesses do after a natural disaster when they know consumers are going to need a specific product or service so they raise the price because they know people are going to buy it anyways. An example of this is when they raise gas prices after a natural disaster, knowing people still need gas.

6 0

4 years ago

Read 2 more answers

Jim wants to buy a car, but he’ll probably only need it for a couple of years. He has a short commute to work, so he won’t be pu

PolarNik [594]

He should lease the car he is not going to need it for a long tme

5 0

3 years ago

When the demand for smartphones increased in Preteresia, a country in Eastern Europe, the smartphone manufacturers started impor

Elan Coil [88]

Based on the actions of Preteresia , we can infer that this scenario best describes <u>Global Convergence</u>.

<h3>What is Global Convergence?</h3>

It refers to the current trend of various dimensions of the human life being integrated across nations.
Describes the integration of dimensions such as business, culture, the economy, and political policy across nations.

Preteresia in helping Abresia build those facilities, is engaging in global convergence because the industries in both countries are being integrated to allow for more efficient smartphone manufacturing.

In conclusion, this is global convergence.

Find out more on the effects of global convergence at brainly.com/question/18077255.

7 0

2 years ago

Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $153,000 Credit sale

rodikova [14]

Answer:

Balance of allowance for doubtful accounts after Bad debt Expense is $2700

Explanation:

given data

Cash sales= $153,000

Credit sales = $453,000

Selling and administrative expenses = $113,000

Sales returns and allowances= $33,000

Gross profit = $493,000

Accounts receivable = $140,000

Sales discounts = $17,000

doubtful accounts credit balance = $1,500

solution

we know here Total Bad Debit = 3% of accounts receivable

that is Total Bad Debit = 0.03 × $140,000

Total Bad Debit = $4200

so here allowance for doubtful account credit balance = $1500

Balance of allowance for doubtful accounts after Bad debt Expense will be

Balance of allowance for doubtful accounts = $4200 - $1500

Balance of allowance for doubtful accounts = $2700

6 0

4 years ago