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fiasKO [112]
3 years ago
14

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 $19.0 million in iTunes gift cards in November, and customers redeem $12.0 million of the gift cards in December.
Required:
a. Record the necessary entries.
b. Record the receipt of cash for gift cards.
Business
1 answer:
ANTONII [103]3 years ago
8 0

Answer and Explanation:

The journal entries are given below:

a. Deferred revenue from gift cards $19,000,000  

           To sales revenue $19,000,000

(being the sales revenue is recorded)

b.

Cash $12,000,000

       To deferred revenue from gift cards $12,000,000

(Being the Receipt of cash from gift cards)

These two entries are to be recorded for the given situation  

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polska, incorporated, is obligated to pay its creditors $9,300 during the year. what is the value of the shareholders’ equity if
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Total assets=Total liabilities+ Total equity

=> Total equity= total asset - total liabilities

a. Share holders equity=(11100-9300)= $1800

b. Share holders equity=(8700-9300)= -600 ~ 0

Rounded -600 to nearest whole number, that is 0

<h3>What are shareholders?</h3>

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6 0
1 year ago
Assume that as your income increases, your consumption of burgers decreases. We can assume that your income elasticity of demand
hodyreva [135]

Answer: Option (d) is correct.

Explanation:

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4 years ago
Suppose that you were the manager of a large retail store that was currently experiencing a shoplifting problem. Every hour, app
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<u>Answer:  </u>

Benefits are amplified at a point where the minor income efficiency (MRP) is equivalent to the expense of employing a security watch. In this way, a benefit expanding firm will enlist as long as the MRP is more noteworthy than the wages or the expense of recruiting a security monitor.  

On the off chance that I need to amplify benefit, at that point I won't enlist the security monitor at a compensation pace of $20 in light of the fact that the expense of recruiting is more noteworthy than the expansion to the complete income or MRP, which is equivalent to $15 (expecting that the security watchman will kill shoplifting).  

The above examination shows that a security watchman will be paid a compensation rate for every hour, which is equivalent to the sum spared every hour by the security monitor for wiping out the normal shoplifting every hour.  

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3 years ago
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4 years ago
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