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3 years ago

7

If you are starting a new business, you can assume with some certainty that your customers will have the same level of technolog

y as you install.
True
False

2 answers:

kakasveta [241]3 years ago

8 0

This would be false

kykrilka [37]3 years ago

3 0

Answer:

False

Explanation:

You can not assume with any certainty that your customers will have the same level of technology as you install. Many of them will have to learn it.

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

balu736 [363]

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

3 0

3 years ago

On March 1, Bartholomew Company purchased a new stamping machine with a list price of $77,000. The company paid cash for the mac

nikdorinn [45]

Answer:

$81,020

Explanation:

The cost of the asset includes the cost of purchase less any given discount or tax returns and the addition of other cost incurred in making the asset available for use.

As such, the cost of the machine

= $77,000 - (5% * $77,000) + $2,000 + $4,520 + $1,350

= $81,020

The routine maintenance cost is not a part of the asset but an expense in p/l.

8 0

3 years ago

Duc has been employed by Longbow Corporation for 25 years. During that time, he bought an annuity at a cost of $50 per month ($1

Arte-miy333 [17]

Answer:

a. How much gross income does Duc have from the contract in the current year?

According to the IRS, Duc's life expectancy is 90 years and 8 months, or 310 more months. This means that Duc can discount from his monthly income $15,000 / 310 = $48.39 (which we must round down to $48).

Duc received 8 x $200 = $1,600

deductions = 8 x $48 = $384

taxable income = $1,216

b. Assume that Duc dies on April 2, 2025. How does Annika account for the contract in 2025?

Annika should account for the contract in the same way as Duc did, and will also be able to discount $48 per month form her gross income. Since Annika will still file her taxes as married during 2025, she will report net income from this contract = ($200 - $48) x 12 months = $1,824

c. Assume the same facts as in part b and that Annika dies on August 4, 2032. How does the executor of Annika's estate account for the contract in the year of her death?

Both Duc and Annika received [(2032 - 2019) x 12] + 4 = 160 payments in total, so her estate is entitled to a tax deduction = (310 - 160) x $48 = $7,200

Since she died on August, her estate must also report income = ($200 - $48) x 8 = $1,216

3 0

3 years ago

Based on employment statistics for 2010, which ranks the number of jobs in these careers from least to greatest? Crop Production

NemiM [27]

Answer:

Elementary Education → Accounting → Pharmacy → Crop Production

Explanation:

According to the employment statistics, Elementary education employs the least, and Crop production employs the largest number.

3 0

3 years ago

Which of the following best describes the term customer contact points? Group of answer choices

kumpel [21]

Answer:

d.a customer interacting with a franchise employee

Explanation:

Customer contact points are avenues through which a company interacts with its customers directly. The modes of interactions include phone calls, written communication, online interactions, or one-on-one customer support.

Many businesses recognize the importance of customer contact points. They invest heavily to ensure that the customer gets a wonderful experience at the contact points.

6 0

3 years ago