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Aneli [31]
3 years ago
10

On October 1, 2021, a company sells $800 of gift cards to customers. The gift cards expire one year from the date of sale. By Oc

tober 1, 2022, $750 of the gift cards have been redeemed and the sales recorded at the time of redemption. What entry, if any, should the company record on October 1, 2022?
A) Debit Sales Revenue, S50; credit Cash, S50.
B) Debit Cash, $750; credit Sales Revenue, $750.
C) Debit Deferred Revenue, S50; credit Sales Revenue, $50.
D) No journal entry is necessary.
Business
1 answer:
kirza4 [7]3 years ago
7 0

D) No journal entry is necessary

Explanation:    

A company sells $800 of gift cards to customers on October 1, 2021, and

The gift cards expires in one year from the date of sale., that is September 30,2021., All accounding entries related to the gift card should be entered with in the period of one year., so., On October 1, 2022 .,No journal entry is necessary

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Natasha’s persuasive speech contained the following statement: When schools switch to a year-round schedule, students won’t have
xxTIMURxx [149]

Answer:

Option B is correct one.

<u>Practicality</u>

Explanation:

Natasha addressed practicality in her persuasive speech on question of policy. Because she is talking about on-ground realities.

8 0
3 years ago
A concentration ratio indicates the:
MaRussiya [10]

Answer:

The correct answer is letter "A": number of firms in an industry.

Explanation:

A concentration ratio measures the number of competitors within the same industry. The lowest concentration ratio of a firm, it represents there are more market rivals. The highest the concentration ratio, the lower the number of competitors of the firm. The ratio is expressed in percentage terms. A firm having a 100% concentration ratio is a monopoly.

8 0
3 years ago
Imagine you have some workers and some handheld computers that you can use to take inventory at a warehouse. There are diminishi
skad [1K]

Answer:

a. The cost of inventorying a single item is $1.00 per item.

b. The cost of inventorying a single item is $0.86 per item.

c. The cost of inventorying a single item is $0.95 per item.

d. The cost of inventorying a single item is $1.08 per item.

e. You should assign two workers per computer in order to minimize the cost of inventory per single item.

Explanation:

Note: This question is not complete. A complete question is therefore provided before answering the question as follows:

Imagine you have some workers and some handheld computers that you can use to take inventory at a warehouse. There are diminishing returns to taking inventory. If one worker uses one computer, he can inventory 125 items per hour. Two workers sharing a computer can together inventory 175 items per hour. Three workers sharing a computer can together inventory 185 items per hour. And four or more workers sharing a computer can together inventory fewer than 185 items per hour. Computers cost $100 each and you must pay each worker $25 per hour.

a. If you assign one worker per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item

b. If you assign two workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item

c. If you assign three workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item

d. If you assign four workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item.

e. How many workers per computer should you assign if you wish to minimize the cost of inventory per single item? _____ worker(s) per computer

The explanation to the answer is now provided as follows:

Note: See the attached excel file for all the calculations.

a. If you assign one worker per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item

The cost of inventorying a single item is <u>$1.00 per item.</u>

b. If you assign two workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $ _____ per item

The cost of inventorying a single item is <u>$0.86 per item.</u>

c. If you assign three workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item

The cost of inventorying a single item is <u>$0.95 per item.</u>

d. If you assign four workers per computer, what is the cost of inventorying a single item? Instructions: Round your answer to two decimal places. $_____ per item.

The cost of inventorying a single item is <u>$1.08 per item.</u>

e. How many workers per computer should you assign if you wish to minimize the cost of inventory per single item? _____ worker(s) per computer

To minimize the cost of inventory per single item, you should assign the number of workers at a point where the cost inventorying a single item is the lowest.

From from parts a to d above, the <u>lowest cost of $0.86 per item </u>of inventorying a single item is obtained in part b when you assign two workers per computer.

Therefore, you should assign two workers per computer in order to minimize the cost of inventory per single item.

Download xlsx
6 0
3 years ago
David is a police officer with the New York Police Department (NYPD).NYPD asks David to retire when he turns 65.It also informs
romanna [79]

Answer:

B) David will most likely lose the case as it is legal for police officers to be subjected to mandatory retirement.

Explanation:

According to relevant laws, an officer must retire upon attaining the age of 62 of after 20 years of uniformed service (if it is an Early Retirement) or 22 years of uniformed service (if it is a Normal Retirement).

Regardless of whether it is a Normal or Early retirement, the officer must disengage at the age of 62.

The relevant laws which govern the administration of the NYPD retirement process as wells pensions are:

  • the Administrative Code of the City of New York (NYCAC);
  • the New York State Retirement and Social Security Law (RSSL), and
  • the Rules of New York City Police Pension Fund (NYCPPF)

Cheers!

3 0
3 years ago
What type of loan is most common when buying a house?
Alexus [3.1K]

Answer:

Fixed-rate

Explanation:

Fixed-rate mortgages are the most common type of home loan. Fixed-rate mortgages are offered in 15- and 30-year fixed-rate terms. Your interest rate will never change, though the principal and interest portion of your monthly mortgage payment will change as the loan amortizes

8 0
1 year ago
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