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
PolarNik [594]
3 years ago
15

Assume that Amazon sells the MacBook Pro, a computer produced by Apple, for a retail price of $1,500. Amazon arranges its operat

ions such that customers receive products directly from Apple Stores rather than Amazon. Customers purchase from Amazon using credit cards, and Amazon forwards cash to Apple equal to the retail price minus a $150 commission that Amazon keeps. In this arrangement, how much revenue will Amazon recognize for the sale of one MacBook Pro?
Business
1 answer:
tatuchka [14]3 years ago
7 0

Answer: $150

Explanation:

Based on the information given in the question, the journal entry provided will be:

Debit Customer $1500

Credit Account Payable (Apple) $1350

Credit Commission income/Revenue $150

Therefore, the revenue that Amazon will recognize for the sale of one MacBook Pro is $150.

You might be interested in
What is Ezy MultiStores?
frutty [35]

Answer:

This is a cloud based platform that allows you to create profit generating "Authority E commerce Affiliate stores"by letting you add products from major E commerce networks without any other approval hassles

5 0
3 years ago
Read 2 more answers
"Under the California Insurance Code, there are no _______ for life or health insurance in California."
gizmo_the_mogwai [7]

Answer: Broker

Explanation: An insurance broker is a person or group of persons who have the legal authority to trade or manage insurance policy of his or her clients. A broker advices the policy holder on necessary actions to take.

Under the California code insurance brokers are not permitted for life and health insurance policy.

An insurance broker is acting as a third party to his or her clients.

6 0
3 years ago
Mariah works at a daycare center. She makes $17 per hour and works about 36 hours each week. What type of wages does she earn?
Harrizon [31]

Answer:

Hourly

Explanation:

Hourly because it says she's paid by the hour.

4 0
3 years ago
Read 2 more answers
Flint Corporation commenced operations in early 2020. The corporation incurred $58,500 of costs such as fees to underwriters, le
Alekssandra [29.7K]

Answer and Explanation:

The journal entry is shown below:

1. Organization expense Dr $58,500

     To cash $58,500

(Being organization expense is recorded)

Here organization expense is debited as it increased the expenses and credited the cash as it decreased the assets. Also the assets and expenses contains normal debit balance

2. No entry is required as the amortization is recorded for only intangible assets

6 0
2 years ago
Flounder Corporation reported net income of $331,840 in 2020 and had 186,000 shares of common stock outstanding throughout the y
m_a_m_a [10]

Answer:

Diluted earnings per share is $1.7 per share

Explanation:

The number of diluted  shares from the options is calculated thus

Total number of shares from options                                     34,500      

Actual number of shares that can be purchased

(options shares*option price/share market price)

(34,500*$11/$15)                                                                        (25,300)

Diluted shares                                                                           9,200

Diluted earnings per share=net income/(outstanding common stock + diluted common stock)

net income is $331,840

outstanding common stock is 186,000

diluted common stock is 9200

diluted earnings per share=$331,840/(186,000+9200)

                                            =$1.7 per share

3 0
3 years ago
Other questions:
  • Shen has plans to go to an opera and already has a $100 nonrefundable, nonexchangeable, and nontransferable ticket. Now Valerie,
    12·1 answer
  • Ikea offers young customers a selection of home furnishings featuring good design, function, and acceptable quality at low price
    13·1 answer
  • The following information has been taken from the ledger accounts of Bridgeport Corporation.
    7·1 answer
  • Grant Manufacturing purchased $10,000 of merchandise inventory on account from a vendor and was billed $300 for freight. The cre
    13·1 answer
  • Parr Hardware Store had net credit sales of $6.5mil and cost of goods sold of $5mil for the year. The Accounts Receivable balanc
    12·1 answer
  • The cost-benefit principal states that
    15·1 answer
  • Suppose Big Bank offers an interest rate of 8.5​% on both savings and​ loans, and Bank A offers an interest rate of 9.0​% on bot
    7·1 answer
  • For measuring a journal for out-of-round, measurements should be taken every ________ degrees around the journal
    12·1 answer
  • The owner of a leased property conveys possession of the property to the tenant providing them with uninterrupted us of the prop
    7·1 answer
  • Given the following financial structure for Company S for all of 2016:
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!