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3 years ago

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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Say Mary would like to create a scholarship for $2,500 per year at ECU in her family's name. If the money market rate where the

Furkat [3]

Answer:

the amount that she have to donate is $166,666.70

Explanation:

The computation of the amount that she have to donate is shown below:

Donation amount is

= Annual scholarship ÷ (interest rate - inflation rate)

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= $2,500 ÷ 1.5%

= $166,666.70

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3 years ago

At wallmart what does swas mean

patriot [66]

"Store Within A Store"

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3 years ago

At the break-even point of 1000 units, variable costs are $60000, and fixed costs are $35000. How much is the selling price per

Mice21 [21]

Answer:

the selling price per unit is $95

Explanation:

The computation of the selling price per unit is shown below:

Selling price per unit is

= Total cost ÷ break even points

where,

Total cost is

= Variable cost + fixed cost

= $60,000 + $35,000

= $95,000

And, the break even point is 1,000 units

So, the selling price per unit is

= $95,000 ÷ 1,000 units

= $95

Therefore, the selling price per unit is $95

6 0

3 years ago

After all revenue and expense accounts have been closed at the end of the fiscal year, Income Summary has a debit of $2,450,000

murzikaleks [220]

Answer:

income summary 550 debit

retained earnings 550 credit

--to close income sumary against RE--

Explanation:

To complete the closing entries we should determinate the balance of the Income Summary account and then, transfer into Retained Earnings.

Income Summary

Debit Credit

2,450

3,000

Balance 550

We will debit income summary so his blanace ends in zero and credit retained earnings so net income is accumualted and added into equity to represent it in the balance sheet.

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3 years ago

An integrity-based approach _____. a. helps very little concerning where questionable practices are occurring and where possible

Roman55 [17]

Answer:

The correct answer is letter "C": usually have chief officers, human resource managers, and board member committees involved with the ethics and compliance program.

Explanation:

The integrity-based approach is the practice in which top executives of a company including members of the Board of Directors (BoD) hold the responsibility of the firm's ethical culture and spread it to their employees. This is done to promote good practices among workers and to spot where might be possible ethical issues appearing in the company.

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3 years ago