Answer and Explanation:
The Journal entries are shown below:-
1. Cash Dr, $19,200,000
To Deferred revenue $19,800,000
(Being receipt of cash for gift cards is recorded)
2. Deferred revenue Dr, $12,200,000
To Sales revenue $12,800,000
(Being revenue recognized from the redemption of gift cards is recorded)
3. The computation of ending balance in Deferred revenue is shown below:-
Ending balance in Deferred revenue = Sold apples - Redeem amount of the gifts
= $19,200,000 - $12,200,000
= $7,000,000
Answer and Explanation:
The journal entries are given below:
a. Deferred revenue from gift cards $19,000,000
To sales revenue $19,000,000
(being the sales revenue is recorded)
b.
Cash $12,000,000
To deferred revenue from gift cards $12,000,000
(Being the Receipt of cash from gift cards)
These two entries are to be recorded for the given situation
Answer:
A. your friend most likely should not be quite so excited because the extremely high cost of living in New York City means his real salary increase will be less than he imagined.
Explanation:
Here are the options to this question :
A. your friend most likely should not be quite so excited because the extremely high cost of living in New York City means his real salary increase will be less than he imagined.
B. your friend has no reason to be excited because higher pay implies more job responsibilities and more working hours.
C. your friend has every reason to be excited because he will be getting paid 120% of what he used to be paid.
D. your friend has reason to be excited because in a bigger city he will have more things to do and his higher salary will allow him to spend on those activities.
Cost of living in a big town is higher than living in a small town. Even though the nominal income of my friend has increased, the real income might not have increased due to the high cost of living in a big city.
Nominal income is the money income being earned. My friend's nominal income would increase from $50,000 to $60,000 if he takes the new job.
Real income is the purchasing power of income
Answer:
making business Strategy
Explanation:
As he and his staff has already planned out what they have to sell . He is now making a business strategy to implement. Business strategy is developed to achieve the desired results within the required time and with the given opportunities or circumstances. In other words it is a master plan set out to get the required results within a specific environment with specific alternatives.
Answer:
Which of the following statements is false?
a. Actual overhead costs always enter the Work-in-Process account.
Explanation:
a. Actual overhead costs always enter the Work-in-Process account.
A normal job-order costing system is a system that uses: Actual costs for direct materials and direct labor and estimated costs for overhead. Actual overhead costs are not assigned directly to jobs
b. The use of normal costing means that overhead is applied to each job using a predetermined rate.
The cost of a job includes direct materials, direct labor, and applied overhead. The use of normal costing means that overhead is applied to each job using a predetermined rate.
c. Indirect labor is assigned as a part of overhead.
Since direct materials and direct labor are usually considered to be the only costs that directly apply to a unit of production, manufacturing overhead is (by default) all of the indirect costs of a factory. Manufacturing overhead does not include any of the selling or administrative functions of a business
