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77julia77 [94]
3 years ago
11

Unearned Fees appear on the a.income statement as revenue b.balance sheet as a current liability c.balance sheet in the stockhol

ders' equity section d.balance sheet in the current assets section
Business
1 answer:
vodka [1.7K]3 years ago
6 0

Answer:

Both a and b.

Explanation:

In accounting an unearned fee is money a business receives from a consumer for any type of services that has still to finish in the future. Suppose that our small business collects unearned fees, like an annual membership fee, we must record the annual membership fee initially as a current liability on the balance sheet but when we complete this service, the fee becomes revenue which has been earned and lastly we record this fee on the income statement.

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A sporting goods store discounts every item in its store based on the original price of the item. An item is discounted: 10% if
VikaD [51]

Answer:

The function to be used in excel represents the discount of an item expressed in dollars, with an original price of x dollars,  is as below:

=if(x<$20,10%*x,if(x>$75,25%*x,20%*x)

in which

  • 10%*x is discount of any items with original price is less than $20
  • 20%*x is discount of any items with original price is greater than or equal to $20 but less than or equal to $75) is 20% discounted
  • 25%*x is discount of any items with original price is greater than $75

Explanation:

We define easy conditions first, then the most complicated at the end

  • An item is discounted: 10% if x is less than $20
  • An item is discounted 25% if x is greater than $75
  • The rest which not any of above ( greater than or equal to $20 but less than or equal to $75) is 20% discounted)
7 0
4 years ago
For each of the following, indicate which type of investment risk is being described.
Goshia [24]

Answer:

a. The ne research may go against the whole gram cereals and people will consume it less therefore demand may be lowered causing the sales and profit to decrease.

b. The increase level of gearing makes the company risky and people do not prefer to invest in the company which have high gearing. The increase debt and interest burden may cause company to become bankrupt and there can be threat for solvency.

c. The bargaining power of buyer is high in such case where the seller finds it difficult to find a suitable buyer.  

Explanation:

Investment risk is the risk associated with the business or new investment project. There should be detailed analysis of risk and return before investing in any project. It is better to understand the nature of risk and the extent to which it can hinder the progress of the business.

5 0
3 years ago
Admire County Bank agrees to lend Givens Brick Company $600,000 on January 1st. Givens Brick Company signs a $600,000, 8%, 9-mon
NeTakaya

Answer:

The journal entry for the issuance and the proceeds of the note is shown below:

Explanation:

Cash A/c.........................Dr   $600,000

    Notes Payable A/c......Cr  $600,000

The givens company received a amount of $600,000 from the bank, so cash is increasing and increase in cash is debited. Therefore, the cash account is debited. Whereas, the cash against a note payable, which increases the liability and any increase in liability is credited. Therefore, notes payable is credited.

7 0
3 years ago
Why should you treat savings as an expense in your budget?
nikitadnepr [17]
Savings are for saving not spending
3 0
3 years ago
ane is planning to offer a Groupon for inner tube rentals that she will distribute on hot, sunny, summer days by the river that
sweet [91]

Probability assigned:|

x 30 60 120 180

P(x) .10 .40 .40 .10

Answer:

Jane

Price of Groupon for a revenue of $300 is:

$3

Explanation:

a) Data and Calculations:

Expected Sales volume:

Number of Tubes  x   30     60      120     180

Probability P(x)           .10     .40      .40      .10

Expected values          3      24       48       18

Total = 93 tubes

Groupon price = $300/93 = $3.23

b) Jane's price for each Groupon will be the rent revenue per day divided by the expected number of tubes to rent daily.  The expected number of tubes is derived by multiplying each expected number of tubes by its probability and then summing up the results.

6 0
3 years ago
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