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Elanso [62]
4 years ago
5

Exercise 6-5 (Algo) Performance obligations [LO6-2, 6-4, 6-5] On March 1, 2021, Gold Examiner receives $156,000 from a local ban

k and promises to deliver 106 units of certified 1-oz. gold bars 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 $1,410 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.
Business
1 answer:
kirill [66]4 years ago
5 0

Answer:

stisgksgksgkdkhclhlfjfpj

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What is the present value of $1000 paid at the end of each of the next 50 years if the interest rate is 6% per year?
zzz [600]

Answer:

$15,761.90

Explanation:

Given that

Amount paid at the end of each year = $1,000

Time period = 50 years

Interest rate = 6% per year

So, the present value of the annuity would be

= Amount paid at the end × PVIFA factor for 50 years at 6% interest rate

= $1,000 × 15.7619

= $15,761.90

Refer to the PVIFA table.

Basically we multiplied the amount with the PVIFA factor.

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3 years ago
The marketing director for zap games, a video game company, has informed his employees that he feels the company needs to improv
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<span>The marketing director for zap games, a video game company, has informed his employees that he feels the company needs to improve its relationship with the distributors of the company's products because the distributors are part of the task environment for zap games. he believes that a stronger relationship with distributors will lead to more market share, and higher profits, for both zap games and its distributors.</span>
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3 years ago
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What are some of the things many CTSOs do for their members? Check all that apply.
jarptica [38.1K]

Answer:

The correct answers would be option B and D, Provide hands on experience and connect students with experts.

Explanation:

CTSO stands for Career and Technical Students Organization. It is usually a non profit organization of career and technical students which are primarily based in schools or career technology centers. They are often integrated into departments of education on the state level. Their main purpose is to provide assistance and help to the students. They provide hands on experience to the students who want to flourish their career and technical skills before entering into the real markets. They also connect students with the experts of their fields who help them with their studies as well as with their careers.

6 0
3 years ago
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Smith company sold inventory that cost $5,000 for $9,000 cash. Freight cost was $600 paid in cash. The freight terms were FOB sh
Mashutka [201]

Answer:

b. gross margin would be $4,000.

Explanation:

Distribution costs are considered when calculating gross margin.

Gross margin is given by sales subtracted by the cost of goods sold:

GM = \$9,000-\$5,000=\$4,000

The gross margin would be $4,000.

Although the freight cost should be included when calculating net income, more administrative costs could be added and, thus, net income cannot be determined with the given information.

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3 years ago
Erin works for a dry-cleaning company that has a contract with the U.S. government. To save on cleaning fluid, her boss orders h
Karo-lina-s [1.5K]

Answer:

A) is not protected by the whistleblower statute because she failed to inform the proper party of the contract violation.

Explanation:

A whistleblower is someone who exposes illegal or unethical activities carried on by public or private organizations including government entities, businesses, other non-profit organizations, etc.

Gossiping about what happens in an organization is not exposing their wrongful activities, in order for an individual to be considered a whistleblower, he/she must inform the illegal or unethical activities to the public authorities.

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