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Marina CMI [18]
3 years ago
15

New Age Computers manufactures and sells pagers and radio paging systems which include a 180 day warranty on product defects. It

also sells an extended warranty which provides an additional two years of protection. On May 10, it sold a paging system for $4,500 and an extended warranty for another $1,400. The journal entry to record this transaction would include:
Business
1 answer:
alukav5142 [94]3 years ago
7 0

Answer:

Given that,

sold a paging system = $4,500

Sold extended warranty = $1,400

The journal entry to record this transaction would include:

(i) cash account Dr. $4,500

       To Sales A/c                 $4,500

(To record the sales)

(ii) Cash A/c Dr. $1,400

       To Unearned revenue A/c $1,400

(To record the service revenue)

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7 0
3 years ago
Oil prices are denominated in terms of _____ in international commodities markets.
igor_vitrenko [27]

Oil prices are denominated in terms of Dollars in international commodities markets.

<h3>What is market explain?</h3>

The entire number of market participants in the region or neighborhood under consideration is referred to as the market. Earth, as well as several nations, regions, states, and cities, may be the subject. The worth, expense, and cost of the goods traded depend on the buyers and sellers in the market.

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5 0
1 year ago
What is the value of a preferred stock where the dividend rate is 14% on a $100 par value? Assume the discount rate for this sto
Ulleksa [173]

Answer:

Value of preferred stock will be $140

Explanation:

We have given par value of preferred stock = $100

Dividend rate = 14 %

Discount rate on preferred stock = 12%

Preferred stock dividend =face\ value\times dividend\ rate=100\times 0.14=14

We have to find the value of preferred stock

Value of preferred stock =\frac{preferred\ stock\ dividend}{discount\ rate}=\frac{14}{0.1}=140

So value of preferred stock will be $140

8 0
3 years ago
Legal capital is best defined as
Vanyuwa [196]

Answer:

b. the par value of all capital stock issued.

Explanation:

As per the business format, capital of a company is the value of share capital.

Now, also legal capital means the share capital issued as this reflects the legal share of individual investors in the company.

Authorized capital is the value of maximum capital that can be issued by the company in the form of equity shares.

Issued capital is that part of authorized capital that is actually issued.

And therefore, the par value that is the face value of shares issued, that is equity issued is the legal capital of the company.

7 0
3 years ago
Braun Company has one service department and two operating (production) departments. Maintenance Department costs are allocated
vekshin1

Answer:

$122,600

Explanation:

Maintenance department cost = $27,000

Assembly department cost = $106,400

Square feet occupied by Milling department = 12,000

Square feet occupied by Assembly department = 18,000

Total square feet occupied by two production departments = Square feet occupied by Milling department + Square feet occupied by Assembly department

= 12,000 + 18,000

= 30,000

Maintenance department cost allocated to Assembly department = Maintenance department cost * (Square feet occupied by Assembly department / Total square feet occupied by two production departments)

= 27,000 * (18,000/30,000)

= 27,000 * 0.6

= 16,200

The total cost of operating the Assembly department for the current period = Assembly department cost + Maintenance department cost allocated to Assembly department

= $106,400 + $16,200

= $122,600

3 0
3 years ago
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