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
tatyana61 [14]
3 years ago
15

Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, an

d $50 increments. Assume Apple sells $19.8 million in iTunes gift cards in November, and customers redeem $12.8 million of the gift cards in December. Record the advance collection of $20 million for iTunes gift card.
Business
1 answer:
trapecia [35]3 years ago
7 0

Answer:

cash             20,000,000 debit

     unearned revenue        20,000,000 credit

Explanation:

Record the advance collection of $20 million for iTunes gift card.

When a gift card is sold, Apple Inc assume the obligation of latter provide iTunes in the near future or do  cash reimbursement therefore; this isn't revenue. It is a liability. Apple will generate revenue when the gift ard are redeem not at sale.

You might be interested in
Suppose the economy begins at potential output when there is a severe and long-lasting stock market crash. In the short run we w
ANEK [815]

Answer:

Spending, production and employment to fall

Explanation:

A stock market crash brings about an economic condition of a recession or a slump.This brings out reduced economic activity and inflationary pressure builds up. This reduces purchasing powers of people and they demand less thus their spending falls. With increasing costs and less demands the firms are forced to cut down on production to combat costs and they also retrench causing unemployment.

Since the economy is at its potential output level, short term expansionary policies may not work.

Hope that helps.

5 0
2 years ago
The Fremont (Ireland) Flyers were a semi-professional carriage racing team that competed up until the early 1930's. Mary Smith o
hoa [83]
Trademark for five years would be on answer a.
3 0
3 years ago
Tomasini Corporation has provided the following data from its activity-based costing accounting system:
Gelneren [198K]

Answer:

d. $192,000

Explanation:

The computation of the supervisory wages and factory supplies not be assigned is shown below:

= Supervisory wages × other percentage + factory supplies × other wages

= $780,000 × 10% + $380,000 × 30%

= $78,000 + $114,000

= $192,000

Hence, the correct option is d. $192,000

All other information i.e given in the question is not relevant Hence, ignored it

4 0
3 years ago
Mary Smith took a car loan of $25,000 to pay back in 48 monthly installments at an interest rate of 8%. Compute the loan balance
Naya [18.7K]

Answer:

$9,233.

Explanation:

The balance of the loan after the 32th payment can be determined after constructing a loan amortization schedule for this car loan. To construct the amortization schedule, we need to first calculate the monthly instalments (PMT) as this is the missing parameter for our time value of money.

I am using a financial calculator here to calculate the monthly instalment :

PV = $25,000

P/YR = 12

I = 8%

N = 48 (years)

FV = $0

PMT = ?

Therefore, the monthly instalment PMT is  $610.32.

But, we need the balance immediately after the 32th payment, so we construct an amortization schedule - now that we have all the parameters.

On a financial calculator enter 1 INPUT 32, SHIFT AMORT.

Pressing the equal sign gives the principle then interest and finally the balance of this loan after the 32th payment. The balance you should get if you follow this procedure carefully is $9,233.

5 0
2 years ago
FordTech is a software company whose clients are based in France. The company has formed a team to decide the direction the orga
Tomtit [17]

Answer:

The correct answer is "corporate strategy"

Explanation:

FordTech is a software company whose clients are based in France. The company has formed a team to decide the direction the organization should take over the next five years. The focus of this team is to increase their clientele in Europe. The company is keen on taking advantage of the opportunities and avoiding threats in the changing environment. This team is involved in developing the corporate strategy  for the organization.

Corporate Strategy takes a group of people to take strategic decisions making by looking across all of a firm’s businesses to determine how to create the most value to achieve company objectives while achieving a competitive advantage.

4 0
3 years ago
Other questions:
  • Jane, the CEO of a company, is trying to resolve how a new marketing strategy should be conducted. She is taking into account th
    12·1 answer
  • On the last day of December 2021, Coaster Trucks entered into a transaction that resulted in a receipt of $300,000 cash in advan
    9·1 answer
  • 1. Explain the meaning of Newton's Law of<br>Gravitation.​
    15·1 answer
  • Christian wants to start a business. He is attracted to the idea of being his own boss, Christian wants to start a new business.
    7·1 answer
  • For homeowners in upper-income brackets whose gains exceed $500,000 ($250,000 for a single taxpayer), the capital gains tax rate
    14·1 answer
  • Carr Company is considering two capital investment proposals. Estimates regarding each project are provided below:Project Soup P
    15·1 answer
  • Collins Inc. is investigating whether to develop a new product. In evaluating whether to go ahead with the project, which of the
    8·1 answer
  • Will give brainliest
    5·1 answer
  • Oliver's company is planning the launch of their hybrid cars. The company has included "never-before-seen" product benefits in t
    9·1 answer
  • The cost object(s) of the activity-based costing method is(are)?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!