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Leno4ka [110]
3 years ago
13

On December 18, Intel receives $246,000 from a customer toward a cash sale of $2.46 million for computer chips to be completed o

n January 23. The computer chips had a total production cost of $1.46 million. What journal entries should Intel record on December 18 and January 23? Assume Intel uses the perpetual inventory system.
Business
1 answer:
Anon25 [30]3 years ago
6 0

Answer:

The Journal entries are as follows:

(i) On December 18,

Cash A/c                  Dr. $246,000

To unearned revenue                    $246,000

(To record the receipt of cash)

(ii) On January 23,

Cash  A/c (Bal)               Dr. $2,214,000

Unearned revenue A/c Dr. $246,000

To sales                                                 $2,460,000

(To record sales revenue)

(iii) On January 23,

Cost of goods sold A/c    Dr. $1,460,000

To Inventory                                               $1,460,000

(To record cost of goods sold)

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Svetach [21]

Answer:

Option D Data Dump

Explanation:

The provision of the unneccesary data alongwith the other necessary data to the user is reffered to as Data dumping. Data dumping by the salesperson might affect the opinion because the customer might change his mind to buy a specific product or postpond purchasing the product.

5 0
2 years ago
Exercise Bicycle Company is expected to pay a dividend in year 1 of $1.20, a dividend in year 2 of $1.50, and a dividend in year
prisoha [69]

Answer:

E.  $40.68

Explanation:

The computation of the stock worth today is shown below:

= (Dividend in year 1 ÷ 1 + required rate of return^number of years ) + (Dividend in year 2 ÷ 1 + required rate of return^number of years) + (Dividend in year 3 ÷ 1 + required rate of return^number of years)  + (Dividend in year 3 ÷ 1 + required rate of return^number of years) × (1 + growth rate) ÷ (required rate of return - growth rate)

= $1.2 ÷ 1.14 + $1.5 ÷ 1.14^2 + $2 ÷ 1.14^3 + $2 ÷ 1.14^3 × (1 + 10%) ÷ (14%-10%)

= $40.68

We simply applied the above formula

3 0
3 years ago
How are jobs affected by supply and demand ?Explain how changes in supply and demand couple impact employment and jobs?
Ksju [112]

Answer:

Please see explanation below

Explanation:

a. Just as supply and demand affects any other market, so does it affects jobs too. Take for instance if additional workers are added to the existing workforce while the demand for jobs remains the same; it means that employers would likely pay less which will bring about drop in income to employees hence causes less job stability. On the other hand, if there is an increase in demand for jobs while supply remains the same; then employers will be willing to pay more thereby resulting in higher income for few who are employed hence bring about job stability.

b. Change in demand refers to either an increase or decrease in demand for a particular good or service due to changes in consumer tastes, income level, population, price of substitutes etc; while change in supply is when suppliers decided to either increase or decrease their production or output due to changes in technology, process automation, change in the number of competitors in the market, taxes, production costs etc.

An increase in demand for certain goods or services would necessitate an increase in supply for such goods hence create avenue for producers or manufacturers to employ more people to produce them. Also, a decrease in demand for certain goods or services would result in less goods being produced hence lesser people getting employed to produce such goods.

On the other hand, when producers embraces new technology or process automation , the possibility of producing more goods will be higher while such would result in job losses.

3 0
3 years ago
While showing a property to an unrepresented buyer, you owe the customer the duties of dealing honestly and fairly, accounting f
adelina 88 [10]

This is also known as the three duties towards the customer DAD Dealing with Honesty. Accounting for all funds and Disclosing the material facts to the buyer.

<h3>Who is a buyer?</h3>

A buyer is a customer who purchases the goods and or services of a company through which the company generates the revenue and earn profits. The buyer plays a key role in the development and running of a company.

The buyer should be allowed to have all the information about the product or service it is going to purchase, the buyer should be informed about the market rates and the demand of the goods as this is a material fact about the product.

Therefore it is a duty that a seller owes to the buyer to deal with honesty that is not charging high price if they are unaware of the price of the product.

Learn more about Buyer at brainly.com/question/27282505

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7 0
2 years ago
If the cost of goods sold is more than the cost of goods manufactured, then
ivann1987 [24]

Answer:

C. Finished Goods Inventory has decreased.

Explanation:

Cost of goods manufactured (COGM) increases when finished goods inventory is <em>produced</em>, while cost of goods sold (COGS) increases when finished goods inventory is <em>sold</em>. If COGS has been increasing faster than COGM has been increasing, the company has been selling more goods than it has been producing. Therefore, it must have sold goods from its surplus of finished goods inventory. Thus, finished goods inventory has decreased.

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