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ycow [4]
3 years ago
8

Yurman Co. sells major household appliance service contracts for cash. The service contracts are for a one-year, two-year, or th

ree-year period. Cash receipts from contracts are credited to unearned service contract revenues. This account had a balance of $960,000 at December 31, 2019 before year-end adjustment. Service contract costs are charged as incurred to the service contract expense account, which had a balance of $240,000 at December 31, 2019. Outstanding service contracts at December 31, 2019 expire as follows:
During 2017 During 2018 During 2019
$200,000 $320,000 $140,000
What amount should be reported as unearned service contract revenues in Yurman's December 31, 2016 balance sheet?
a. $720,000.
b. $660,000.
c. $480,000.
d. $440,000.
Business
1 answer:
vekshin13 years ago
6 0

Answer:

b. $660,000.

Explanation:

Deferred revenues or unearned revenues refer to money that a company received in advance for goods or services that it still has delivered or provided. In this case, the company hasn't provided services for years 2017, 2018 and 2019 = $200,000 + $320,000 + $140,000 = $660,000

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Vanik Corporation currently has two divisions which had the following operating results for last year: Cork Division Rubber Divi
Crank

Answer:

$20,000

Explanation:

If the Rubber Division was dropped at the beginning of last year, the financial advantage (disadvantage) to the company for the year would have been: the segment's margin of $20,000

The president considering the elimination of this division is not advisable. As long as none of the allocated common corporate fixed costs could be avoided, If the Rubber Division was dropped at the beginning of last year, the financial disadvantage to the company for the year would have been it's contributed margin that went towards off-setting corporate fixed costs.

Furthermore, if this segment is closed, it would affect the Cork division because it would be reporting a lower net operating income of $90,000 as a result of bearing all the corporate costs alone.

 

3 0
3 years ago
_____ is the amount of information a communication medium can carry and the extent to which the medium enables the sender and re
asambeis [7]

Answer:

Information richness.

Explanation:

<u>Information richness</u> is the amount of information a communication medium can carry and the extent to which the medium enables the sender and receiver to reach a common understanding. This is the correct answer to your question.

Hope this helps!!!

Kyle.

8 0
2 years ago
Technology combined with rapid international communication of news, entertainment, and lifestyles is dramatically increasing the
harina [27]

Answer:

True

Explanation:

The great advances in the mass media and technology have marked consumer habits in our society. One of the most influential today is television, because it can change the way people act or think and, in this way, create a different reality through advertising, most experience the impact of advertising by the large number of hours spent surfing the net.

6 0
3 years ago
Edington Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The calculators sell for $14 a
iren2701 [21]

Answer:

In the question, we are not given information with respect to sales costs, so we can only find total gross sales:

Sales Budget fist 2 quarters of the year

Product  Sales Price  Sales Q1 Sales Q2  Total gross sales

XQ-103     $14             22,590    27,710      $704,200

XQ-104     $27             14,880    16,200      $839,160

                                                                     $1,53,360

4 0
2 years ago
The amount of money collected by a snack bar at a large university has been recorded daily for the past five years. Records indi
disa [49]

Answer:

A) skewed to the right with a mean of $4000 and a standard deviation of $450.

Explanation:

While the days are picked at random, the size of the sample is enough to represent the reality. Among the random pick those days of football game will be picked too and will skewed to the right the distribution

The distribution will not change into normal as the reality is that distribution of revenue is not normally distributed among the days of the year.

3 0
3 years ago
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