Answer:
cash 19,300,000 debit
unearned revenues 19,300,000 credit
unearned revenues 12,700,000 credit
sales revenues 12,700,000 credit
balance:
19,300,000 - 12,700,000 = 6,600,000 balance
Explanation:
the gift card will be considered a liaiblity as it generates an obligation to Apple to latter provide their services/goods.
Once the gift card are redeem the company is able to recognize revenue as it has provided the goods to the customers.
Answer:
$62,800
Explanation:
Following Garfield Corp's policy, the number of pet beds that must be purchased, assuming no initial inventory, is given by the expected number of sales in March (1,300 units) added to 30% of the expected sales in April (30% of 900 units):
Since the company purchases each pet bed for $40, total budgeted purchases are:
Garfield Corp's total budgeted purchases for March are $62,800.
Four requirements for a valid contract are an offer, acceptance by the other party of the offer, a mutual agreement or meeting of the minds of the contracting parties and a valid consideration.
Answer:
Option (d) is correct.
Explanation:
Given that,
Direct materials = $44,200
Direct labor = $31,800
Manufacturing overhead = $25,200
Selling expenses = $22,100
Administrative expenses = $37,100
Conversion cost:
= Direct labor + Manufacturing overhead
= $31,800 +$25,200
= $57,000
Therefore, the conversion costs during the month totaled $57,000.
This shift in demand was likely the result of the improved technology of MP3 players.
Improved technology brought improved quality of MP3 players, which meant that more people were interested in buying them. MP3 players are far more convenient than CD players, because they are smaller, more easily portable, and overall better.
