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mr Goodwill [35]
3 years ago
12

On May 1, 2021, Meta Computer, Inc., enters into a contract to sell 4,100 units of Comfort Office Keyboard to one of its clients

, Bionics, Inc., at a fixed price of $69,700, to be settled by a cash payment on May 1. Delivery is scheduled for June 1, 2021. As part of the contract, the seller offers a 25% discount coupon to Bionics for any purchases in the next six months. The seller will continue to offer a 5% discount on all sales during the same time period, which will be available to all customers. Based on experience, Meta Computer estimates a 50% probability that Bionics will redeem the 25% discount voucher, and that the coupon will be applied to $41,000 of purchases. The stand-alone selling price for the Comfort Office Keyboard is $19.00 per unit.
Business
1 answer:
Harrizon [31]3 years ago
4 0

Answer:

Journal Entry

Explanation:

1. There are two obligations in this contract

a. keyboard

b. Customer option for future discount

2. Cash Dr,                                                     $69,700

        To Deferred revenue - keyboard                $66,215

        To Deferred revenue - discount coupon    $3,485

(Being cash is recorded)

Working note:-

Keyboards = 4,100 × $19

= $77,900

Option = $41,000 × (0.25 - 0.05) × 0.50

= $4,100

Allocation

For keyboard

= $77,900 ÷ ($77,900 + 4,100)

= 0.95

Deferred revenue Keyboard = $69,700 × 0.95

= $66,215

Option = 4,100 ÷ ($77,900 + 4,100)

= 0.05

Deferred revenue - discount coupon = $69,700 × 0.05

= $3,485

3. Cash Dr,                                                  $69,700

       To Deferred revenue Keyboard               $69,700

(Being cash is recorded)

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All of the following have had an effect on structural unemployment except:_________.
likoan [24]

Answer: Active duty military population

Explanation:

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The above options allow for structural unemployment to happen except Active Duty military population.

These are already people who are employed as soldiers and are on Active - duty. They are not unemployed and do not contribute to Structural Unemployment.

8 0
3 years ago
In doing aggregate planning for a firm producing paint, the aggregate planners would most likely deal with: a. Gallons, quarts,
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Answer:

D. Just gallons of paint, without concern for the different colors and sizes

Explanation:

Aggregate planning is explained to be an operational activity critical to the organization as it looks to balance long-term strategic planning with short term production success.

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A solid demand forecast covering the medium-range period.

7 0
2 years ago
The owner of Genuine Subs, Inc., hopes to expand the present operation by adding one new outlet. She has studied three locations
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Answer and Explanation:

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8 0
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A customer service representative loses his job because his company adopted a new software that does most of his job automatical
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A customer service representative loses his job because his company adopted a new software that does most of his job automatically. This is an example of technological unemployment.

<h3>What is technological unemployment?</h3>

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The new technology now handles the works and the service of the individual is no longer require.

Therefore, A customer service representative loses his job because his company adopted a new software that does most of his job automatically. This is an example of technological unemployment.

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brainly.com/question/305041

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3 0
2 years ago
Cash paid for equipment would be reported on the statement of cash flows in_________.
Licemer1 [7]

Answer:

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