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
daser333 [38]
3 years ago
11

On December 18, Intel receives $249,000 from a customer toward a cash sale of $2.49 million for computer chips to be completed o

n January 23. The computer chips had a total production cost of $1.49 million. What journal entries should Intel record on December 18 and January 23
Business
1 answer:
Zielflug [23.3K]3 years ago
4 0

Answer:

December 18

Debit cash $249,000

Credit deferred revenue $249,000

January 23rd

Debit Cash $2,241,000

Debit deferred revenue $249,000

Credit sales revenue $2,490,000

January 23rd

Debit Cost of goods sold $1.49 million

Credit Inventory $1.49 million

Explanation:

Preparation of the journal entries that Intel should record on December 18 and January 23

December 18

Debit cash $249,000

Credit deferred revenue $249,000

January 23rd

Debit Cash $2,241,000

($2.49 million-$249,000)

Debit deferred revenue $249,000

Credit sales revenue $2,490,000

($2,241,000+$249,000)

January 23rd

Debit Cost of goods sold $1.49 million

Credit Inventory $1.49 million

You might be interested in
Molly is doing a research project about lemurs. She needs to find information about their eating habits. Which is the best examp
levacccp [35]
"lemur natural eating habits"
8 0
3 years ago
In explaining hedge funds to an investor, a registered representative might correctly characterize them as utilizing:____.
Dimas [21]

In explaining hedge funds to an investor, a registered representative might correctly characterize them as utilizing common stockholders.

  • The potential for the greatest loss determines the riskiest situation.
  • The inherent nature of leverage in futures trading is one of the main dangers involved. The most frequent reason for losses in futures trading is frequently a disregard for leverage and the dangers involved.
  • Common stockholders always bear the most risk because they are the last to be compensated in the event of business liquidation. However, if the company is successful, common stockholders could stand to gain the most from ownership.

Learn more about common stockholders here

brainly.com/question/2528944

#SPJ4

4 0
2 years ago
"UN accepts Bhutan's graduation
nexus9112 [7]

Answer:

an Evi score of 32 or below

Explanation:

in 40-euro cents.

d. The 60% of the rise in the

disposable income goes to

consumption

= All of the abovein 40-euro cents.

d. The 60% of the rise in the

disposable income goes to

consumption

= All of the above

an Evi score of 32 or belowin 40-euro cents.

d. The 60% of the rise in the

disposable income goes to

consumption

= All of the abovein 40-euro cents.

d. The 60% of the rise in the

disposable income goes to

consumption

= All of the abovein 40-euro cents.

d. The 60% of the rise in the

disposable income goes to

consumption

= All of the abovein 40-euro cents.

d. The 60% of the rise in the

disposable income goes to

consumption

= All of the above

4 0
4 years ago
Are we as humans affected by Positioning Theory?
snow_lady [41]
Yes we are indeed...
4 0
4 years ago
Novak Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $
vagabundo [1.1K]

Answer: $742910

Explanation:

The weighted average combines interest rates into a single interest rate which yields a combined cost which is about thesame as cost of the original separate loans.

The weighted-average interest rate for interest capitalization purposes for the company above is calculated in the attachment below.

3 0
3 years ago
Read 2 more answers
Other questions:
  • If you sold 17 units this week out of 153 units in inventory what percent of your inventory did you sell?
    12·1 answer
  • What can you conclude is the reason why secondary data is desirable
    14·1 answer
  • Robin earns $44,000 per year and has current debt payments of $1,200 per month. she wants to buy a new car with desirable financ
    5·1 answer
  • Colby Company has a process costing system in which the weighted-average method is used. The company adds all materials at the b
    13·1 answer
  • The bargaining leverage of suppliers is greater when: Select one: a. Only a small number of suppliers exist and when it is diffi
    6·1 answer
  • Kramer just invested $7,200 for 7 years and will earn compound interest of 8.5 percent per year. justin also just invested $7,50
    7·1 answer
  • If the level of advertising expenditures is compared to the number of units sold at the end of a four-month period, the independ
    8·1 answer
  • Ronald suffers from dementia that impacts his brain function, but he also has healthy periods of time when his mind is fully fun
    12·1 answer
  • Give examples of B2C,B2B,C2C and social,mobile and local e-commerce besides those listed in the book
    5·1 answer
  • all of the company's earnings kept rather than distributed to stockholders decreased by dividends decreased by purchases of land
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!