Answer:
Feb. 2021
Dr Gift Card Liability $20
Cr Gift Card Revenue $20
(to record revenue arisen from oustanding Gift Card Liability)
Explanation:
Under GAAP, the accounting for Gift Card is quite simple. When the gift card are sold, Gift Card Issuer receives Cash (Debit Cash) and assume the Liability (Cr Liability) to anyone owning the gift card for later providing of goods/services priced at the Cash amount that had been received.
It is not until Gift Card is redeemed that Gift Card Issuer is allowed to record revenue (Credit Revenue) as it is an actual point of time when the provide of goods/services takes place. Also at the same time, once the goods/services are provided, they Liability assumed earlier in time through Gift Card issuance will be discharged to the extent of the price of goods/services provided.
Answer:
Value-added-tax is a tax that is assessed incrementally, and is levied on the price of a product.
Answer:
The correct answer is letter "B": Project's expected cash flows.
Explanation:
Capital budgeting is a planning method used by businesses to decide which new projects to invest in and how to fund them. The types of projects evaluated in capital budgeting include large expenditures such as the <em>construction of a new factory, the acquisition of new equipment, the development of a new product </em>or <em>the purchasing of another company</em>.
<em>In the beginning, it is crucial to </em>estimate the firm's cash flows<em> to determine how much funds will be available for investing and covering expenses. If insufficient, the company must look for forms of raising capital such as issuing investment vehicles such as stock or bonds or relying on financial institutions through loans.</em>
I believe the answer is: c. were not a part of the contract unless Chloe expressly agreed to them.
Additional terms cannot be considered as a part of the main contract. For an additional term become legally binding, there are several criterias that shall be met:
(a) the signers expressly conveys acceptance to the terms of the offer;
(b) the material would not be altered
(c) There is no notification of objection to them is given after the notice is received.