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Colt1911 [192]
3 years ago
7

On July 1, 2021, Ayayai Inc. entered into a contract to deliver one of its specialty machines to Kickapoo Landscaping Co. The co

ntract requires Kickapoo to pay the contract price of $4,900 in advance on July 15, 2021. Kickapoo pays Ayayai on July 15, 2021, and Ayayai delivers the machine (with cost of $2,050) on July 31, 2021.
Instructions

a. Prepare the journal entry on July 1, 2021, for Ellsbury.

b. Prepare the journal entry on July 15, 2021, for Ellsbury.

c. Prepare the journal entry on July 31, 2021, for Ellsbury.
Business
1 answer:
iren [92.7K]3 years ago
5 0

Answer:

Journal entries

Explanation:

The Journal entry is shown below:-

July 1  No Entry is required

July 15

Cash Dr,                                    $4,900  

      To Unearned Sales Revenue             $4,900

(Being cash is recorded)

July 31

Unearned Sales Revenue Dr,  $4,900  

            To Sales Revenue                $4,900

(Being unearned sales revenue is recorded)

Cost of Goods Sold Dr,                $2,050  

           To Inventory                                                     $2,050

(Being cost of goods sold is recorded)

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Radar Company sells bikes for $490 each. The company currently sells 4,300 bikes per year and could make as many as 4,620 bikes
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Answer:

Radar's additional income for accepting the order is calculated as follows:

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Explanation:

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To make a decision whether to accept an order or not, the company needs to consider all variable costs, including the incremental fixed costs.  The resulting additional income is what is available to offset the fixed costs.

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3 years ago
Refer to Exhibit 9.3, which shows the cost and revenue curves for a non-discriminating monopolist. The total cost incurred by th
Gnom [1K]

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At the point where MR=MC, the quantity produced is 1,100 units.

The Average Total Cost tallying with this is $18 per unit.

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Answer:

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Answer:

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The term "breakthrough technologies" is the key word in answering this question as it refers to innovation that has never been seen before. Thus, it would require a great deal of creativity to think of and successfully introduce and implement into a company.

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