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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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On January 1, 2020, Levy Company issues 100 x 5% bonds with a face value of $1500, The bonds mature on December 31, 2030 and pay
JulsSmile [24]

Answer:

$150,000

Explanation:

Calculation for the amount of Cash raised for the Levy Company

Using this formula

Cash raised for Levy Company = Number of Bonds * Face value of the Bond

Let plug in the formula

Cash raised for Levy Company = 100 * $1,500

Cash raised for Levy Company = $150,000

Therefore the amount of Cash raised for the Levy Company will be $150,000

8 0
3 years ago
Your assistant wants to use secondary data exclusively for the current research project. You advise him that the use of secondar
Juli2301 [7.4K]

Answer:

The correct option is C

Explanation:

Secondary data is the kind of data, where the data or the information is collected through or using someone other than the user. And the sources of the secondary data are or involve information as well as censuses collected through organizational records, departments of government and data or information which originally collected from other research purposes.

This data has potential problems which is that it might not be so relevant, the data is not current or updated and also might not be impartial.

6 0
3 years ago
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kvasek [131]

Answer:

November 2011

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6 0
3 years ago
What strategy is a company using when it customizes its products, promotion, and distribution to fit cultural, technological, an
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The answer is MULTINATIONAL STRATEGY.
5 0
3 years ago
A(n) ________ veto allows the governor to cross out budget lines in the legislature-approved budget, while signing the remainder
Cerrena [4.2K]
Line item veto, its the power to strike out individual items in the state budget

4 0
3 years ago
Read 2 more answers
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