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BigorU [14]
3 years ago
5

During 2013, customers purchased gift cards from lattebucks, all of which expire on december 31, 2015. at the end of 2014, some

of the gift cards still have not been redeemed. how should the unredeemed gift cards be reported on lattebucks's 2014 year-end financial statements?
Business
1 answer:
Andre45 [30]3 years ago
3 0

Answer:

The unredeemed gift cards should be reported as current liability on the balance sheet

Explanation:

Here in this question, we are interested in knowing how purchased but yet to be redeemed gift cards, having an extra year of validity should be recorded on the company’s present year-end financial statements.

The correct answer to this is that the yet to be redeemed gift card is to be recorded as a current liability on the present year balance sheet. When we talk of current liabilities, we are simply referring to those amounts in businesses which we are going to pay creditors within the year.

Although the gift card has been purchased, without redeeming yet still means there are some amount that is still yet to be paid out to the creditors. Now, since there is still a window of a whole full year before the creditors might no longer access the payment, then we can record the gift cards amount as current liabilities within the year which we are in since the payment is due to be paid within a whole full year.

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At December 31, 2017 the following balances existed on the books of Vaughn Manufacturing: Bonds Payable $5990000 Discount on Bon
Pepsi [2]

Answer:

loss on redemption = $969800

so correct option is $969800

Explanation:

given data

Bonds Payable = $5990000

Discount on Bonds Payable = 850000

Interest Payable = 155000

bonds retired = 102

to find out

loss on redemption

solution

we get here loss on redemption that is express as

loss on redemption = amount paid in excess par value + discount bond payable   ........................1

here amount paid in excess par value will be

amount paid in excess par value = Bonds Payable ( 1.02- 1)

amount paid in excess par value =  $5990000 × (1.02 - 1)

amount paid in excess par value = 119800

so from equation 1

loss on redemption = $119800 + 850000

loss on redemption = $969800

so correct option is $969800

3 0
4 years ago
​Employees' beliefs in the degree to which they influence their work​ environment, their​ competence, the meaningfulness of thei
pogonyaev

Answer: Psychological empowerment

Explanation:

 The psychological empowerment is the term which refers to the work environment in which it reflecting the self motivation and control in the work.

This term is basically describe about the different types of perspective of an employees by internalization the goals in an organization.

According to the given question, the employees is basically belief in their degree and also influence the work environment in terms of self determination and they also perceived the autonomy.

 Therefore, Psychological environment is the correct answer.

7 0
4 years ago
The opportunity cost of an action: Group of answer choices can be determined by considering both the benefits that flow from as
joja [24]

Answer:

The action of opportunity cost is that is the subjective measurement which could be determined only through the individual, who selects the action.

Explanation:

Opportunity cost is the cost or an expense or the value of the next best possible thing which the person or an individual gave up whenever make or take a decision.

In short, it is the loss of the gain that is potential from the other alternatives which are available when an individual or person selects the alternative.

Therefore, the action of the opportunity cost is the cost which is the subjective measure, that could be determined only through individual, who selects the action.

3 0
3 years ago
Today, the spot price of the EUR/USD exchange rate is $1.0796. The bid and ask quotes for the six-month EUR/USD forward contract
pantera1 [17]

Answer:

b. 13.63%

Explanation:

Multiple choice <em>"(a) 1.01% (b) 1.37% (c) 0.50% (d) -0.50%"</em>

<em />

Spot rate = future rate /(1 + interest rate differential)

1.0796 = (1.0796 + 0.007356)/(1 + interest rate differential)

1.0796 = 1.086956 / (1 + interest rate differential)

1.0796 * (1 + interest rate differential) = 1.086956

(1 + interest rate differential) = 1.086956/1.0796

(1 + interest rate differential) = 1.006813634679511

Interest rate differential = 1.006813634679511 - 1

Interest rate differential = 0.006813634679511

interest rate differential = 0.006813634679511*2

interest rate differential = 0.013627269359022

interest rate differential = 13.63%

So, the difference between interest rate of Europe and US is 13.63%.

6 0
3 years ago
In late April, the Acme Construction Co. submitted a $1,200,000 progress billing on a construction contract.On May 2, the bill w
patriot [66]

Construction expenditures should be debited when <u>D. The bill is approved for payment.</u>

<u>Explanation:</u>

In the above scenario, Acme Construction Co. submitted bill amount of $1,200,000 on a construction contract. The payment of the bill was approved on May 2. According to the contract, 10% was subject to retention.

This construction expenditure is debited when the bill is approved for payment. Contract includes all the details regarding payment and terms and conditions between the companies or parties.

Once the bill submitted by company is approved, then the retention amount will be automatically debited.

8 0
3 years ago
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