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prisoha [69]
3 years ago
9

On March 1, 2016, Gold Examiner receives $159,000 from a local bank and promises to deliver 95 units of certified 1-oz. gold bar

s on a future date. The contract states that ownership passes to the bank when Gold Examiner delivers the products to Brink�s, a third-party carrier. In addition, Gold Examiner has agreed to provide a replacement shipment at no additional cost if the product is lost in transit. The stand-alone price of a gold bar is $1,710 per unit, and Gold Examiner estimates the stand-alone price of the replacement insurance service to be $90 per unit. Brink�s picked up the gold bars from Gold Examiner on March 30, and delivery to the bank occurred on April 1.
Required:
1. How many performance obligations are in this contract?


2. to 4.
Prepare the journal entry Gold Examiner would record on March 1, March 30 and April 1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Business
1 answer:
Levart [38]3 years ago
8 0

Answer:

Detailed step wise solution is given below:

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________ include leadership and information technology and will be necessary for success no matter your career path; while _____
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2 years ago
You have just purchased a share of stock for $ 19.09. The company is expected to pay a dividend of $ 0.51 per share in exactly o
frozen [14]

Answer:

$20.64

Explanation:

Use the rate of return formula to solve for the new price;

r = ( P1 +Div1 -P0)/P0

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Div1 = Next year's dividend amount = $0.51

P1 = next year's stock price =?

P0 = Current stock price = $19.09

Next, plug in the numbers to the formula;

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Multiply both sides by 19.09;

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Add 18.58 on both sides;

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8 0
3 years ago
The United States’ central bank, the , holds the account balances of the country’s commercial banks. These are called .
kozerog [31]

Answer:

Reserves

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Answer:

Option A.

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