1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nuetrik [128]
3 years ago
13

A customer purchases $340 worth of merchandise from The GAP using a gift card. What is the journal entry The Gap records?

Business
1 answer:
OLga [1]3 years ago
6 0

Answer:

Option (d) is correct.

Explanation:

Given that,

Customer purchases $340 worth of merchandise from The GAP using a gift card.

A gift card is having an amount of money that is used by the gift card holder for the purpose of purchasing goods. So, in the books of GAP, the value of gift card is debited as an unearned revenue and the sales revenue is credited.

The journal is as follows:

Unearned revenue A/c Dr. $340

         To sales revenue A/c         $340

(To record the merchandise sold for a gift card)

You might be interested in
Carson Company purchased a depreciable asset for $560,000. The estimated salvage value is $28,000, and the estimated useful life
LenaWriter [7]

Answer:

$79,800

Explanation:

Depreciation expense using the activity method = (actual hours of use in a given period / total estimated hours of use ) × ( Cost of asset - Salvage value)

(1500/10,000) × ($560,000 - $28,000) = $79,800

I hope my answer helps you.

5 0
3 years ago
Maurio inc., a publishing house, wants to invest in digital publishing. however, the company does not possess enough capital to
icang [17]

Answer:

A) Factoring

Explanation:

Factoring: This is a short term financial option which refers to financial transactions between a business firm and a financial institution. It is the selling of debt by a business firm at a discounted price to a financial institution.

Maurio inc. is involved in factoring by selling its accounts of credits to restube which is i financing firm at a discount in order to have enough capital to invest in digital publishing.

Factoring is the relationship between the financial institution and the business firm in which the fimancial institution purchases the business firms credit and pay about 80% to 90% immediately and pay the balance at a later date.

There are different types of factoring;

1) Domestic and export factoring

2) Recourse and non-recourse factoring

3) Advance and maturity factoring

4) Disclosed and undisclosed factoring

5 0
3 years ago
Read 2 more answers
What does this quote mean to you?
AveGali [126]

Answer:

It means alot to me it helps me understand what my destiny is

Explanation:

8 0
3 years ago
An investor is in a 30% combined federal plus state tax bracket. If corporate bonds offer 8.75% yields, what yield must municipa
Lilit [14]

Answer:

6.125%

Explanation:

Calculation for what yield must municipals offer for the investor to prefer them to corporate bonds

The after-tax yield on the corporate bonds is: 8.75% x (1 - 0.30)

The after-tax yield on the corporate bonds is= 0.0875x 0.7

The after-tax yield on the corporate bonds is= 0.06125*100

The after-tax yield on the corporate bonds is= 6.125%

Therefore what yield must municipals offer for the investor to prefer them to corporate bonds is

6.125%

8 0
3 years ago
OMGGGGG PLZZZZZZZZZZZZZZZ HELP ASAP! identify 6 events that changed our political system with regard to slavery in the last 300
MAVERICK [17]
Civil war maybe I don’t know if it’s in the last 300 years
4 0
3 years ago
Other questions:
  • The amount you owe in state income is based on
    11·2 answers
  • Case conceptualization refers to
    5·1 answer
  • Investment from a macroeconomic perspective refers to
    13·2 answers
  • Artur, who has a disability, is an employee of banquet & event facilities & services, inc. after the installation of new
    8·2 answers
  • Julio is the owner of Party Pros, Inc., a party supply company. The company provides tents, tables, chairs, and related products
    6·1 answer
  • Answer please!
    13·1 answer
  • A stock is expected to pay a dividend (D1) of $1.10 at the end of the year. The required rate of return is rs = 8.0%, and the ex
    12·1 answer
  • Suppose there are three commercial concrete suppliers that account for 90% of sales (of nearly identical products) in northern N
    10·1 answer
  • Which of the following is a reason to obtain professional certification?a. Certification provides credibility that an individual
    15·1 answer
  • What is the role of incentives in the workplace?
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!