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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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Union local school district has bonds outstanding with a coupon rate of 3.2 percent paid semiannually and 16 years to maturity.
Dmitriy789 [7]

Answer:

Bond Price​= $4,700.15

Explanation:

Giving the following information:

coupon rate= 0.032/2= 0.016

YTM= 0.037/2= 0.0185

Number of periods= 16*2= 32

Par value= $5,000

<u>To calculate the price of the bond, we need to use the following formula:</u>

Bond Price​= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]

Bond Price​= 80*{[1 - (1.0185^-32)] / 0.0185} + (5,000/1.0185^32)

Bond Price​= 1,919.05 + 2,781.10

Bond Price​= $4,700.15

8 0
3 years ago
you look at real estate ads for houses in naples, florida. there are many houses ranging from $200,000 to $500,000 in price. the
Cloud [144]

Right-skewed with potential outliers.

<h3>What are outliers?</h3>

An outlier is an observation in a population-based random sample that deviates abnormally from other values. In a way, this definition defers to the analyst's (or a consensus process') judgment as to what constitutes aberrant behavior.

a value in a set of data that "lies outside" (is much smaller or greater than) the majority of the other values. For instance, both 3 and 85 are "outliers" in the scores 25, 29, 3, 32, 85, 33, 27 and 28.

It's worthwhile to read Outliers. It entertains you, questions the status quo, and provokes thought. It helps you become more aware of your surroundings and the effects that culture and the environment have on your ability to succeed.

To learn more about outliers from the given link:

brainly.com/question/26958242

#SPJ4

3 0
2 years ago
Renegade Publishers Inc. projected sales of 29,000 diaries for 2016. The estimated January 1, 2016, inventory is 1,200 units, an
likoan [24]

Answer:

30,800 units

Explanation:

Production Budget for 2016

Budgeted Sales                                     29,000

Add Budgeted Closing Inventory           3,000

Total                                                       32,000

Less Budgeted Opening Inventory       (1,200)

Budgeted Production                            30,800

therefore,

The budgeted production (in units) for 2016 is 30,800 units

4 0
3 years ago
Carlos consumes only cheese and crackers.
GrogVix [38]

A.      The cheese and crackers that are being consumed by Carlos is not considered to be inferior goods because when there is a time that his income may rise, he will likely consume other products aside from it.

B.      If the price of the cheese falls, what will likely happen is that there will be a presence of substitution effect of where the crackers will be fewer consumed and the cheese will be consumed more. When there is a presence of income effect on the other hand, the cheese will be consumed more as this will be considered as a good that is normal and the crackers to be consumed fewer as this will be classified as an inferior good. The likely outcome of it in both scenarios, Carlos will still consume fewer crackers and the cheese to be more consumed.

8 0
3 years ago
Which two types of jobs are provided in the work-study program?
neonofarm [45]

Ideally A and E

My experience A and C.

7 0
4 years ago
Read 2 more answers
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