Answer:
Feb. 2021
Dr Gift Card Liability $20
Cr Gift Card Revenue $20
(to record revenue arisen from oustanding Gift Card Liability)
Explanation:
Under GAAP, the accounting for Gift Card is quite simple. When the gift card are sold, Gift Card Issuer receives Cash (Debit Cash) and assume the Liability (Cr Liability) to anyone owning the gift card for later providing of goods/services priced at the Cash amount that had been received.
It is not until Gift Card is redeemed that Gift Card Issuer is allowed to record revenue (Credit Revenue) as it is an actual point of time when the provide of goods/services takes place. Also at the same time, once the goods/services are provided, they Liability assumed earlier in time through Gift Card issuance will be discharged to the extent of the price of goods/services provided.
When the stock markets crash, the businesses crash because the economy relies on the circulation of money to stay alive, when stock markets crash, money is slowing down and businesses can't afford to keep their business
<span>Darius has a “conventional” personality type, this is according to Holland’s Six personality types, which means that he likes to work with numbers and data. This kind of person can carry out the task in detail and can easily follow the instruction of a others. </span>
<span>In development of new
products, the most defined aspect is the processes. It takes a great deal of effort and time in
product creation in laboratories. Testing the feasibility of new product in
actual manufacturing environment. Trials are done to capture and document
actual procedures, machine specifications, safety requirement, and actual working parameters to achieve
the desired specification of the new product. </span>
A hierarchical structure refers to a company's chain of command, typically from senior management and executives to general employees. In other words, this structure applies to organizations with a sole leader and a flow of subordinates underneath them. For example, let's say a company has 10 employees.