Answer: $129,500
Explanation:
According to the Accrual Basis in Accounting, revenue and expenses should only be recognised when goods have been delivered.
On the December 31, 2020 Sandra's Boutique had 1,850 gift certificates outstanding but these had been sold already to people during the year for $70.
This means that they have been paid for a service that they have not given (they provide the service when the GIFT certificate is renewed).
They cannot therefore recognize the revenue as Revenue yet and have to defer it.
The amount to be Deferred will therefore be,
= 1,850 * $70
= $129,500
<span>The variability we expect to see from one random sample to another. It is sometimes called sampling error.</span>
It will take an approximate of 52 years to triple the initial investment.
The formula for Future value is <em>A = Pe^(rt)</em>
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<u>Given Information</u>
Triple amount
Rate = 2.1%
Therefore, it will take an approximate of 52 years to triple the initial investment.
See similar solution here
<em>brainly.com/question/19649471</em>
Answer:
Explanation:
The preparation of the partial balance sheet for Sage at December 31, 2020 is presented below
NASH COMPANY
Partial Balance Sheet
At December 31, 2020
Current liabilities
Notes payable $3,176,480
Long term debt
Note payable refinanced in the year 2021 $3,867,520
The computation is shown below:
For note payable i.e shown in the current liabilities is
= $7,044,000 - $6,043,000 × 64%
= $3,176,480
And, the refinanced note payable is
= $6,043,000 × 64%
= $3,867,520
