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
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

You might be interested in
State courts can review statutes passed by their legislatures to ensure:
LekaFEV [45]

Answer:

that the statutes do not violate the state constitution or the us constitution.

Explanation:

State courts can remove laws from the bench. Think about what the supreme court does on a daily basis which is to review laws and determine if they are allowable under the constitution, think roe v wade, brown v board of education. state courts do this too. Think the recent texas abortion law. State courts have the responsibility to solve cases in a constitutional manner.

4 0
3 years ago
Saying that Risk and Return go hand in hand, tells us that you ________ as the length of the investment horizon ________." A. ca
klio [65]

Answer:

A. can afford to take on additional risk; increases

Explanation:

Saying that Risk and Return go hand in hand, tells us that you <u>can afford to take additional risk </u> as the length of the investment horizon <u>increases</u>. Increasing the length of the investment horizon increases the ability to take on additional risk because in the long run the investment pays off while it may be choppy in the short time horizon.

5 0
2 years ago
Sylvia's annual salary increases from $102,300 to $109,500. Sylvia decides to increase the number of vacations she takes from th
Vinvika [58]

Answer:

4.20 and normal good

Explanation:

The computation of the income elasticity of demand is shown below:

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in income ÷ average of quantity income)  

where,  

Change in income would be

= Q2 - Q1

= 109,500 - 102,300

= 7,200

And, average of income would be

= (109,500 + 102,300) ÷ 2

= 105,900

Change in quantity demanded would be

= 4 - 3

= 1

And, average of quantity demanded would be

= ($4 + 3) ÷ 2

= 3.5

So, after solving this, the income elasticity of demand is 4.20

Since the elasticity comes in positive which means the good is a normal goods

7 0
3 years ago
A farmer sells $50,000 worth of apples to individuals who take them home to eat, $75,000 worth to a company that uses them all t
IrinaK [193]

Answer:

The answer is: $150,000

Explanation:

The GDP includes all the final, finished and legal products produced in the country during a year.

The apples sold directly by the farmer to individual consumers and the apples the grocery store sells to households are both going to be included in the GDP.

The only apples not included in the GDP are the once sold to the company that produces apple juice, since they are intermediate goods and not finished goods.  

6 0
3 years ago
Grateful Eight Co. is expected to maintain a constant 4.6 percent growth rate in its dividends indefinitely. If the company has
ad-work [718]

Answer:

11%

Explanation:

To address this exercise, we need to recall the formula for dividend discounted model (DDM). The DDM is stated as below:

Stock intrinsic value = Next year dividend/(Required rate of return - Long term growth)

Rearrange a bit this formula, we have:

Next year dividend/Stock intrinsic value = Required rate of return - Long term growth, or

Dividend yield = Required rate of return - Long term growth

Putting all the number together, we have:

6.4% = Required rate of return - 4.6% or Required rate of return = 11%

7 0
3 years ago
Other questions:
  • Doodle inc., a renowned interior design services company, tries to increase its customer base through web presence. it regularly
    12·1 answer
  • True or False
    6·2 answers
  • Drum buffers are:_________
    5·1 answer
  • Which would you trade on a stock exchange?<br> A) shares<br> B) bonds<br> C) annuities
    12·2 answers
  • My sis need a boy bestie anyone wanna be that???​
    8·1 answer
  • The present value factor for an ordinary annuity at 10% for 6 periods is 4.3553. The lease does not transfer the property to Whi
    11·1 answer
  • Employees at City Bank and Trust were really impressed with Liam, the new CEO. He was the first person who had fully developed a
    8·1 answer
  • A small company has 5000 shares. Lauren owns 200 of these shares. The company decides to split its shares. What is Lauren's owne
    13·2 answers
  • At willow financial consulting, employees are allowed to choose what time they start each workday, as long as they arrive betwee
    6·1 answer
  • Market is a schedule or curve showing the various amounts of a product that producers are willing and able to make available for
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!