Answer:
The company promises to deliver upgrades for two years to a customer if they purchase software that costs $100. These upgrades need to be accounted for so they will be accounted for from the $100.
The $100 will therefore be split between the cost price of the software and the 2 year upgrades.
The part of the $100 that is the cost price will be recognized by the company as revenue immediately at the date of sale.
The upgrades however, will not. This is because you can only recognize revenue for services performed and these have not been performed yet. They will therefore be classified as Deferred revenue which is a liability account showing that the company owes people performance obligations.
As the years go by and the upgrades are given, the revenue will be recognized.
Answer:
bots
Explanation:
A bot is an application which simulates an individual's interaction with other users or systems. They are usually able to perform simple and repetitive tasks in large quantitative which would be very improbable for a human to perform, e.g. they can spend several days in social media applications.
In this case, brokers probably used bots to purchase tickets by making several small purchases.
Answer: $57,455.395
Explanation:
Given that,
Fixed assets purchased = $387,950
MACRS rates are as follows:
Year 1 = 0.3333
Year 2 = 0.4445
Year 3 = 0.1481
Year 4 = 0.0741
Depreciation Expense in Year 3:
= Initial Value or Purchase Price of equipment × MACRS rate for Year 3
= $387,950 × 0.1481
= $57,455.395
Answer:
23 million shares
Explanation:
The computation of the number of authorized shares after these transactions are shown below:
Since the corporate charter represent the company could sell till 23 million shares of stock so here the no of authorized shared after the transactions should be 23 million shares
So, the second option is correct
And, the same is to be considered
Answer:
b. False
Explanation:
A warranty disclaimer is defined as a written document or a statement which informs the buyer that the seller of the product is not or guarantees or any promises regarding the product.
This disclaimer releases the seller from any legal liabilities for any defects or failure of the products.
Thus, the answer is False.