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lana [24]
3 years ago
13

Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, an

d $50 increments. Assume Apple sells $19.3 million in iTunes gift cards in November, and customers redeem $12.3 million of the gift cards in December. and customers redeem $12.7 million of the gift cards.
Record the necessary entries in the Journal Entry Worksheet below.

Record the receipt of cash for gift cards.

Record the revenue earned from redemption of gift cards.

What is the ending balance in the unearned revenue account?
Business
1 answer:
Anastasy [175]3 years ago
6 0

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.

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Janet is <u>a  "whistleblower".</u>


A whistleblower is a person, who could be a representative of an organization, or an administration office, unveiling data to people in general or some higher expert about any bad behavior, which could be as extortion, debasement, and so on.  

An whistleblower could be a representative, temporary worker, or a provider who winds up mindful of any unlawful exercises.  

To shield whistleblower from losing their activity or getting abused there are particular laws. Most organizations have a different arrangement which obviously states how to report such an occurrence.

7 0
3 years ago
WeeBee Company has three assembly labor dassifications: 5-1, S-2, and S-3. The three dassifications are paid $16, $19, and $22 p
liq [111]

Answer:

b.use the S-2 employee

Explanation:

Calculation for the the most cost-effective solution

S-1 S-2 S-3

Time for 1 unit (in minutes) 30 24 21

Units in 1 hour 2 2.5 2.857142857

(60/30= 2)

(60/24=2.5)

(60/21=2.857142857)

Wages per hour $ 16.00 $ 19.00 $ 22.00

Wages per/ unit $ 8.00 $7.60 7.70

($ 16.00/2=$8)

($ 19.00/2.5=$ 7.60)

($ 22.00/2.857142857=$ 7.70)

Ranking

S-1 $ 8.00 III

S-2. $7.60 I

S-3 7.70 II

Therefore based on the above Calculation the most cost-effective solution will be to use the S-2 employee

4 0
3 years ago
A fee collected by a real estate agent upon the sale of a property is
vladimir2022 [97]
Real estate commission fee
3 0
3 years ago
Regardless of the index we use:
Vitek1552 [10]

Answer:

b. we should get an accurate picture of how all consumer goods and services prices changed from year to year.

Explanation:

Wether it is ased on a fixed goods of goods or based on a changing goods of goods that gets old after time, we should check how is it work with this policy

The goal for the index is to adjust the value of assets by the inflation rate to calcualte the loss for having dollar bills.

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3 years ago
Which of the following makes a true statement? Concurrent powers are those that are exclusive to the states, such as ratifying a
bearhunter [10]

Answer:

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Explanation:

Delegated powers are powers given to the federal (national) government and specifically outlined by the US Constitution (Article 1, Section 8). They outline the authority and limits of the three branches of the federal government (legislative, executive and judiciary). Some examples of delegated powers are power to declare war, lay and collect taxes, print and coin money, etc.

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