1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elanso [62]
3 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]3 years ago
5 0

Answer:

stisgksgksgkdkhclhlfjfpj

You might be interested in
Productive resources are _____. A.factors that are used to make goods and services
svp [43]
Productive resources are factors that are used to make goods and services
7 0
3 years ago
If a company receives $12,000 from the stockholders to establish a corporation, the effect on the accounting equation would be:_
Darina [25.2K]

Answer:

The correct answer is option A

Explanation:

A receipt of cash indicates an increase in cash which is an asset. When an asset increases, it is represented by a debit to that asset's account and the asset side of the accounting equation is also debited. Thus, a receipt of $12000 cash from stockholders will be represented by a debit or an increase to the asset account for $12000.

The other side of the transaction would be a credit to the equity for $12000 because the stockholders are the owners of the company and any capital invested by the owners in the company is represented by a credit to the equity account as the capital is credited when it increases. Thus, the effect on accounting equation will be an increase in the equity of $12000.

4 0
3 years ago
Employees indicate their willingness to be represented by a union by signing a/an:
Setler [38]
<span>Employees indicate their willingness to be represented by a union by signing an authorization card. People who work and represent a union sign authorization cards to show the strength in numbers of people who back the union. A union is a group of people that have formed an organization, there are people who work for a union and collectively </span>decide whether as a whole they agree to the work force and will abide by that or go on strike. 
4 0
3 years ago
Inc. (WFI). After liquidating its remaining inventory and paying off its remaining liabilities, WFI had the following tax accoun
Montano1993 [528]

Answer:

On the transfer of the building,

Appreciation of building = FMV - Adjusted Basis

                                        = $50,000 - $10,000

                                        = $40,000

WFI has taxable transaction and gain recognition of $40,000.

On the transfer of the land,

Appreciation of land = FMV - Adjusted Basis

                                  = $150,000 - $90,000

                                  = $60,000

WFI has taxable transaction and gain recognition of $60,000.

5 0
3 years ago
If you had $1100000000000 what would with it and why
Gennadij [26K]

Answer: buy my school than demolish it

Explanation:

8 0
2 years ago
Read 2 more answers
Other questions:
  • Workforce ________ exists when at one end of the labor market, there has been strong demand for low-skilled, low-paying jobs in
    13·1 answer
  • Danita rescues dogs from her local animal shelter. when danita's income rises by 7 percent, her quantity demanded of dog biscuit
    6·1 answer
  • How to succeed in business?
    9·1 answer
  • Hairston Industries has $5 million of debt and $20 million of equity. If Hairston's beta is currently 1.75 and its tax rate is 4
    10·1 answer
  • Post Delivery Service acquired at book value 80 percent of the voting shares of Script Real Estate Company. On that date, the fa
    11·1 answer
  • . You just inherited a trust that will pay you $100,000 per year in perpetuity. However, the first payment will not occur for ex
    7·1 answer
  • Identify the statement that is incorrect. Multiple Choice Higher financial leverage involves higher risk. Risk is higher if a co
    15·1 answer
  • You are bullish on telecom stock. the current market price is $110 per share, and you have $22,000 of your own to invest. you bo
    15·1 answer
  • You have bad credit and they tell you that they can give you a loan on the $15,000
    11·1 answer
  • A point M on a segment with endpoints (-1, 1) and ( 7, 7) partitions the segment in a 3:5 ratio. Find M. You must show all work
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!