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Dima020 [189]
3 years ago
13

Sunbed Company sells tanning beds that are shipped in large reusable containers. Customers are charged a deposit for each contai

ner delivered and receive a refund when the container is returned. The deposit is three times the actual cost of each container. Deposits are forfeited if containers are not returned within one year. The inventory of containers remains on the companyâs books until deposits are forfeited. Deposits collected on containers delivered during the year were $100,000. Ninety-five percent of the containers were returned within the allotted time.Prepare the appropriate journal entry for the deposits returned to customers. (If no entry is required for a transaction/event, selec No journal entry required" in the first account field.)
Business
1 answer:
kolbaska11 [484]3 years ago
8 0

Answer:

Liability needs to be reduced by cash refunds that are made to customers as and when the containers are returned.

Cash refunds = Deposits collected * Percentage returned

Cash refunds = $100,000 * 95%

Cash refunds = $95,000

Date  General Journal                             Debit         Credit

          Liability - Refundable Deposits  $95,000

                 Cash                                                        $95,000

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The Haskins Company manufactures and sells radios. Each radio sells for $76.00 and the variable cost per unit is $40.00. Haskin'
nevsk [136]

Answer:

The answer is $36.00

Explanation:

Contribution margin per unit is when variable cost per unit is subtracted from selling price per unit. Contribution is that part of revenue that was not used by variable costs and was used to cover fixed costs

selling price per unit = $76.00

variable cost per unit = $40.00

Therefore, contribution margin per unit is $76.00 - $40.00

= $36.00

5 0
3 years ago
Mike organizes a group of students upset over the food selection in the cafeteria. He assigns times for students to stand in the
alukav5142 [94]

Answer:

interest group

Explanation:

Based on the information provided within the question it can be said that this is an example of an interest group. This term refers to group of individuals that share a common interest and because of it work in unison in order to influence the government so that they promote and protect that interest. Which in this scenario the group's main interest is on the food selection in the cafeteria, and are working together to influence the organizational entity to change it.

3 0
3 years ago
According to 54 leadership experts of 38 countries, there are two key components to leadership. The first is the ability to pers
aev [14]

Answer: Enablers

Explanation:

Years ago, 54 leadership experts from 38 countries reached a consensus on leadership.

They agreed that leadership should be about influencing, motivating, and enabling others to contribute towards the goals of the Organization that they work for.

This consensus had 2 parts.

Firstly, leaders motivate others through persuasion and otherinfluence tactics.

Secondly and relatively more important in this question, leaders act as ENABLERS.

They ENABLE those under them by distributing resources, minimizing disruptions and just generally by being leaders to their subordinates to make it easier for the goals and objectives of the company to be realized.

3 0
4 years ago
Use the compound interest formula to determine the accumulated balance after the stated period. ​$60006000 invested at an APR of
My name is Ann [436]

Answer:

The final value of the investment after 3 years is $7,146.10

Explanation:

Giving the following information:

Investment= $6,000

Interest rate= 6​% compounded annually

The number of years= 3 years.

To calculate the final value, we need to use the following formula:

FV= PV*(1+i)^n

FV= 6,000*(1.06^3)

FV= $7,146.10

The final value of the investment after 3 years is $7,146.10

3 0
3 years ago
You own 200 shares of Loner stock. The firm announced that it will be issuing a dividend of $.20 a share one year from today fol
nikklg [1K]

Answer:

value of your total investment income   362.80

Explanation:

The computation of the value of your total investment income in two years is shown below

Value of Dividend after 2 years (200 × .20 × 1.07)42.80

Value of Liquidating Dividend (200 × 1.60) 320.00

value of your total investment income   362.80

7 0
3 years ago
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