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
Answer:
Explanation:
Before recording the journal entry, first we have to determine the total cost which is shown below:
= Purchase price + sales tax + Shipment of machine + Installation of machine
= $63,000 + $5,400 + $880 + $1,760
= $7,1040
Now the journal entry would be
Equipment A/c Dr $7,1040
Prepaid insurance A/c Dr $580
To Cash A/c $3,220 ($880 + $1,760 + $580)
To Accounts payable $68,400 ($63,000 + $5,400)
(Being the expenditure and equipment value is recorded)
Diversify and spread stock across a variety of investments to avoid high-risk investment.
Answer:
C : $50,050
Explanation:
Budgeted sales: $400,000
Budgeted Comission expense: $16,000
Budgeted shipping expenses: $4,500
Budgeted marketing costs: $12,000
Budgeted utility bills: $750
Budgeted depreciation expense: $8,800
Budgeted bad expense: $8,000
The sum of all those expenses is $50,050.
The totality of the expeneses listed in the question are part of the budgeted income statement, except for the budgeted revenue, because it is obviously not a expense.
Answer:
$85
Explanation:
The chart is left out in the question.
