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miv72 [106K]
3 years ago
9

In January 2021, Summit Department Store sells a gift card for $50 and receives cash. In February, 2021, the customer comes back

and spends $20 of the gift card to purchase a water bottle. What would be the appropriate journal entry for the sale of the gift card in January?
Business
1 answer:
r-ruslan [8.4K]3 years ago
7 0

Answer:

cash 50 debit

 unearned revenue 50 credit

Explanation:

The sale of the gitf card is done in january. The information of February's transaction is not relevant to decide how to record this sale.

The sales was in cash, so the company receive cash, this account will increase by 50.

Also the company will recognize the unearned revenue, this is not earned yet. It will be earned when redeemed.

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In an enterprise-class database system, business users interact directly with the DBMS, which directly accesses the database dat
nikklg [1K]

Answer:

False

Explanation:

In an enterprise-class database system, business users can not interact directly with the DBMS, which directly accesses the database data

7 0
3 years ago
The forces of adjustment to market equilibrium are the natural forces of suppliers to make profit and consumers to maximize thei
Charra [1.4K]
The word that completes the sentence that relates to the suppliers' profit maximized at equilibrium is demand. Demand is related to the consumer. At equilibrium, the supplier's profit is maximized at the same time the consumer's demands are optimized.
6 0
3 years ago
A cylindrical can that has a capacity of 20 m3 will be made. The metal used to build the top costs $10 per square meter while th
Alchen [17]

The dimensions of the cylinder can be used to minimise cost of manufacture.

<h3>How to we find minimised cost?</h3>

Let's ignore the metal's thickness and assume that the material cost to manufacture is precisely proportionate to the surface area of a perfect cylinder.

A=2πr(r+h)

Given that V=1000=r2h and h=1000=r2, we can write

A=2πr(r+1000πr2)

A=2πr2+2000r−1

By setting the derivative to zero, we may determine the value of r that minimises A:

A′=4πr−2000r−2

0=4πr−2000r−2

2000r−2=4πr

2000=4πr3

r=500π−−−√3

r=5.419 + cm

h=1000πr2=10.838 + cm

The can with the smallest surface area has a volume of 1000 cm 3 and measures 5.419+ cm in radius and 10.838+ cm in height. The can has a surface area of 553.58 cm 2. Given a constant volume, the cylinder with diameter equal to height has the least surface area.

Can surface area (cm2) versus. radius (cm), where capacity = 1000cm 3.

Learn more about manufacturing here:

brainly.com/question/17111259

#SPJ4

8 0
1 year ago
Which of the following describes business-to-business (B2B) e-commerce purchases? Group of answer choices Customers bid on items
tigry1 [53]

Answer:

Pricing can vary for each customer.

Explanation:

Under the B2B, the manufacturer sells its products directly to other businesses such as wholesalers or retailers and not the end consumers.

Hence, pricing can vary for each customer in a business-to-business (B2B) e-commerce purchases because companies that are engaged in B2B are able to improve their performance and cut down the costs of procurement for goods and services.

Business to business (B2B) markets differ from Business to consumers (B2C) markets because salespeople personally call on business customers to a far greater extent than they do consumers.

3 0
3 years ago
Suppose two companies own adjacent oil fields. Under the two fields is a common pool of oil worth $60 million. For each well tha
AlekseyPX

Answer:

Each company drills two wells and experiences a profit of $22 million.

Explanation:

If each company acts independently and drills two oil wells each they will have a total of 4 wells each worth (60 million ÷ 4= $15 million.

Each company will have two oil wells which equals (2* 15 million = $30 million)

But each company incurs cost of $4 million per well. That is total cost of $8 million.

Therefore the profit for each company will be $30 million - $8 million= $22 million

8 0
3 years ago
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