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Annette [7]
3 years ago
5

Unearned Sales Revenue Brand Landscaping offers a promotion where a customer's lawn will be mowed 20 times if the customer pays

$700 in advance. Required: 1. Prepare the journal entry to record the customers' prepayment of $700. (Record payment received for services not yet performed) 2. Prepare the journal entry to record Brand's mowing of the lawn one time. (Record revenue)
Business
1 answer:
nikitadnepr [17]3 years ago
6 0

Answer:

1.   Cash                                               $700 Dr

         Unearned Service Revenue           $700 Cr

2.   Unearned Service revenue          $35 Dr

           Service Revenue                            $35 Cr

Explanation:

1. When the payment is received in advance, the cash is received so it will be debited as cash is increasing. The service has not been provided so it is a liability of the company and the unearned service revenue will be credited as liability is increasing.

2. The cash received in advance $700 is for the service that is to be provided 20 times.

When the service is provided one time, the revenue for this has been earned so it will be recorded as a decrease to liability and an increase to revenue. So unearned service revenue will be debited and service revenue will be credited.

The revenue from one time service providing is = 700 / 20 = $35

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Reika [66]

Answer:

Over the last two years, small businesses have taken to the electronic space as a means of expanding their businesses.

This e-commerce trend experienced an upward spike during the C-19 Pandemic. As businesses were forced to operate remotely, necessity which is the mother of invention, started to thinking of ways to restructure their businesses to operate more electronically using a wide array of online tools and technology.

In a recent survey, 10 out of 50 businesses said they were not reverting back to their former model of operations as they had realised that it was completely unnecessary.

Top reasons given are:

  1. Given the shedding of operation load and streamlining to basic functions whilst retaining the quality of product and or service, they also shed a lot of costs which increased their bottomline;
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7 0
3 years ago
A company has 800 bonds outstanding with a par value of $1,000 and priced at 95% of par. It also has 40,000 shares of common sto
alisha [4.7K]

Answer:

Bonds   = 24%

Shares  = 76%

Explanation:

The weight of each of the finance sources is the proportion that their market value bears to the total market value.

This is computed as follows:

                                                                               $

Market value of bonds= 95%× 1,000× 800= 760,000

Market value of shares = 60× 40,000=        <u>2,400,000</u>

Total market value                                        <u>  3,160,000</u>

Bonds             = 760,000/3,160,000× 100= 24%

Shares             = 2400000/3,160,000×  100= 76%

7 0
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Answer:

a complex approach that continually matches demand and supply to customize the price for a service.

Explanation:

Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services.

In sales and marketing, pricing of products is considered to be an essential element of a business firm's marketing mix because place, promotion and product largely depends on it.

One of the importance associated with the pricing of products is that, it improves the image of a business firm.

Yield management pricing is a complex approach that continually matches demand and supply to customize the price for a service. It is commonly used by businesses that are typically involved in tourism, hospitality, and airline services.

8 0
3 years ago
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I think would be most susceptible to have mumps is the Patty. <span>
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3 0
3 years ago
Read 2 more answers
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Labelling a statement as an opinion generally protects the person who said it from defamation suits however this is not always the case.

If the opinion is based on disclosed and well known facts, the action is free of defamatory or libel charges.

This seems to be the case in this scenario as his column seems to be based on the performances for the year.

Bottomline is, Stella cannot sue Carl for libel as it is his opinion.

7 0
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