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Mashcka [7]
3 years ago
5

On May 1, 2016, Meta Computer, Inc., enters into a contract to sell 5,000 units of Comfort Office Keyboard to

Business
1 answer:
LenaWriter [7]3 years ago
3 0

Answer:

1. 2

2. Journal Entry

3. Journal Entry

Explanation:

1. There are 2 number performance obligations in this contract.

2. Cash Dr,                                                $95,000

     To unearned sales revenue                         $93,100

      To unearned discounted sales revenue     $1,900

(Being unearned revenue is recorded)

Working Note:-

Sales revenue = 5,000 × $19.6

= $98,000

Coupon applied = $20,000 × (25% - 5%) × 50%

= $2,000

Sales revenue including discount

= $98,000 + ($20,000 × 20% × 50%)

= $100,000

Discount on sales

= $95,000 × ($2,000 ÷ $100,000)

= $1,900

3. Cash Dr,                              $95,000

     To Unearned sales revenue         $95,000

(Being unearned revenue is recorded)

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Cutter Enterprises purchased equipment for $72,000 on January 1, 2011. The equipment is expected to have a five-year life and a
lapo4ka [179]

Answer:

$22000 and $50000.

Explanation:

Given: Purchased value of equipment- $72000.

           Residual value- $6000

           Estimated useful life of equipment- $ 5 years.

Now, finding value of depreciation for 2011 using the sum of the years digits method.

Depreciation cost= (\textrm{Purchased value - residual value}

⇒ Depreciation cost= (72000-6000)= \$ 66000

∴ Depreciation cost= $66000.

     

Depreciation fraction for 1st year= \frac{5}{1+2+3+4+5} = \frac{5}{15}

Depreciation expense for 1st year= \frac{5}{15} \times 66000= \$ 22000

∴ Depreciation for 2011 is $22000.

Next, lets find out the book value at the end of  first year.

Book value= (\textrm{Purchased value - depreciation expense})

Book value= (72000 - 22000) = \$ 50000

∴ Book value at December 2011 is $50000.      

8 0
3 years ago
The total payroll of Concord Company for the month of October, 2017 was $1020000, of which $185000 represented amounts paid in e
cricket20 [7]

Answer: $74,102

Explanation:

FICA Tax Payable by Employer = 1.45% × $185,000 + 7.65% × ($1,020,000 - $185000)

                                                     = $2,682.5 + $63,877.5

                                                     = $66,560

State unemployment tax = 1% × ($1,020,000 - $601,000)

                                         = $4,190

Federal unemployment tax = 0.8% × ($1,020,000 - $601,000)

                                             = $3,352

Payroll tax expense = FICA Tax Payable by Employer + state unemployment tax + federal unemployment tax

                                 = $66,560 + $4,190 + $3,352

                                 = $74,102

4 0
3 years ago
How does government pay for
Tanzania [10]

Answer:

the answer is "D" Although "A" seems to be the favored method

7 0
3 years ago
__________ is a widely recognized professional society for persons interested in operations and supply chain management.
Fed [463]

APICS is a widely recognized professional society for persons interested in operations and supply chain management.

Association for Supply Chain Management is a not-for-profit international education organization offering certification programs, training tools, and networking opportunities to increase workplace performance.

APICS merged with the Supply-Chain Council in 2014, and the American Society of Transportation and Logistics in 2015.

Examples of certification : CPIM, CSCP etc.

Read more about Supply Chain Council here brainly.com/question/14325556

#SPJ4

4 0
2 years ago
A U.S. automobile company sells many of its cars in countries that have lower taxes on corporate profits than the U.S. Why might
stira [4]

Answer:

It will be more profitable to vertically integrate because the company will be able to further reduce its costs.

Explanation:

Profit = Sales - Cost

The lower the cost, the higher the profit (if sales remains the same).

A Vertical integration strategy requires a company to <u>own or control its suppliers (backward integration) or its distributors or retailers (forward integration)</u>, and therefore, gain more control over its value chain.

<em>If the U.S. automobile company chooses to vertically integrate into the car retailing business in countries where it sells most of its cars, then it would cut out certain costs, such as the cost of contracting with independent car dealers, which would further improve profitability.</em>

Also, such forward integration into retailing means the company will develop processes along its value chain that will increase the efficiency of its operations.

4 0
3 years ago
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