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8_murik_8 [283]
4 years ago
7

Peterson Photoshop sold $1,300 in gift cards on a special promotion on October 15, 2021, and sold $1,950 in gift cards on anothe

r special promotion on November 15, 2021. Of the cards sold in October, $130 were redeemed in October, $325 in November, and $390 in December. Of the gift cards sold in November, $195 were redeemed in November and $455 were redeemed in December. Peterson views the probability of redemption of a gift card as remote if the card has not been redeemed within two months. At 12/31/2021, Peterson would show a deferred revenue account for the gift cards with a balance of:
Business
1 answer:
Anastaziya [24]4 years ago
4 0

Answer:

$1,300

Explanation:

Given that,

On November 15, 2021

sold gift cards = $1,950

Of the gift cards sold in November,

Redeemed in November = $195

Redeemed in December = $455

Therefore, the deferred revenue is as follows

= November sales - Redemptions

=  November sales - (Redeemed in November + Redeemed in December)

= $1,950 - ($195 + $455)

= $1,950 - $650

= $1,300

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Kay [80]

Answer:

Architecture

:):)

Explanation:

hope I help!!:)

Im learning same thing and just completed that, I know its Architecture!!!!

6 0
3 years ago
"Assume that the scales, software and calibration service are all separate performance obligations. How much revenue will Ortiz
bezimeni [28]

Answer: $77250

Explanation:

Your question isn't complete. I saw a similar question so here is it.

On July 15, 2021, Ortiz & Co. signed a contract to provide EverFresh Bakery with an ingredient-weighing system for a price of $79,200. The system included finely tuned scales that fit into EverFresh's automated assembly line, Ortiz's proprietary software modified to allow the weighing system to function in EverFresh's automated system, and a one-year contract to calibrate the equipment and software on an as-needed basis. (Ortiz competes with other vendors who offer ongoing calibration contracts for Ortiz's systems.) If Ortiz was to provide these goods or services separately, it would charge $51,000 for the scales, $10,000 for the software, and $39,000 for the calibration contract. Ortiz delivered and installed the equipment and software on August 1, 2021, and the calibration service commenced on that date. Assume that the scales, software and calibration service are viewed as one performance obligation. How much revenue will Ortiz recognize in 2021 for this contract?

This will be calculated as:

Scales = $51000

Add: Software = $10,000

Add: Calibration service = $39000 × 5/12 = $16250

The total revenue that will be recognized will be:

= $51000 + $10000 + 16250

= $77250

6 0
3 years ago
Firms will hire additional workers as long as the nominal wage: A. is less than the marginal product of labor. B. equals the mar
HACTEHA [7]

Answer:

D) is less than the value of the marginal product of labor.

Explanation:

As an economic principle, firms will maximize their profits when the marginal revenue they receive for selling a good or service equals the marginal costs of producing and selling that good or service.

The marginal product of labor equals the change in total output gained from adding one extra unit of labor. It basically measures how much value is added by each additional unit of labor. So a firm will hire additional workers as long as the revenue generated from their work is higher than their wage.

6 0
3 years ago
A recent report indicated that families in a certain country typically spend about $175 per week on groceries. To investigate wh
leonid [27]

Answer:

Option B

Explanation:

Null hypothesis: ∪ = $175

Alternative hypothesis: ∪ₐ ≠ $175

With a pp value of 0.0021 which is less than value at the level of significance, the null hypothesis is not rejected as there is no sufficient statistical evidence that the mean is greater than $175.

0 0
3 years ago
What is a common workflow error that can cause duplicate expenses in QuickBooks Online?
kow [346]

Answer:

A common workflow error that can cause duplicate expenses in QuickBooks Online is:

Duplicating any transaction.

Explanation:

The reason behind this is that duplicating transactions is very common because it might originate before the accounting process is made. It can be executed by any manager or someone in the resources acquisitions department. That is why the books have to be reviewed at two different moments from two different departments. Accounting first and then finance. To check that everything is correct.  

5 0
3 years ago
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