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chubhunter [2.5K]
3 years ago
15

GoodBuy sells gift cards redeemable for GoodBuy products either in store or online. During 2018, GoodBuy sold $960,000 of gift c

ards, and $810,000 of the gift cards were redeemed for products. As of December 31, 2018, $39,000 of the remaining gift cards had passed the date at which GoodBuy concludes that the cards will never be redeemed. How much gift card revenue should GoodBuy recognize in 2018?
Business
1 answer:
balu736 [363]3 years ago
3 0

Answer:

$849,000 gift card revenue should GoodBuy recognize in 2018

Explanation:

gift cards revenue of GoodBuy recognized in 2018

=  gift cards redeemed + remaining gift cards

= $810,000 + $39,000

= $849,000

Therefore, $849,000 gift card revenue should GoodBuy recognize in 2018

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4 years ago
You have been investing $300 a month for the last 8 years. Today, your investment account is worth $43,262. What is your average
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Answer:

Having invested $ 300 per month for the past 8 years, the total accumulated investment amount would be $ 28,800 (8 x 12 x 300). Now, having a total amount of $ 43,262, we find an increase of $ 14,462, which corresponds to the interest accumulated during said period. To know the percentage of the increase, we must perform a cross multiplication:

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As we can see, the investment had an increase of 50.21% during these 8 years. Now, the average increase in investment arises from the division of the total percentage of increase by the number of years. So, given that 50.21 / 8 = 6.27, the average annual return rate of this investment is 6.27%.

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3 years ago
Economic capital is productive, so it does not include______? money buildings & equipment tools
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3 years ago
A post-closing trial balance should be prepared
yanalaym [24]

Answer:

<h2>Post-Closing trial balance is usually prepared after the closing entries are posted to the ledger account.Hence,the correct answer is the third option or after closing entries are posted to the ledger accounts.</h2>

Explanation:

In Accounting,the main objective of preparing a post-closing trial balance is to ensure the completion and closure of all the temporary accounts and the equality between all the debit and credit entries have been consistently established once the closing entry has been done.Once the closing entries have been put into journal and finally posted in ledger,a detailed account or list of all the individual accounts along with their respective balances is prepared which is basically known as Post Closing Trial Balance Account.It includes all the unbalanced accounts from the original trial balance or the accounts which are not balanced based on debt and credit entries,at the end of the accounting or reporting year.Therefore,post-trial balance basically ensures that all the accounts entered in the original trial balance are zero balance or the debit and credit entries of all the individual accounts in trial balance are balanced or equal.

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