The restaurant sector continues to grow despite the hurting economy. O True O False

Felton Co. sells major household appliance service contracts for cash. The service contracts are for a 1-year, 2-year, or 3-year

tia_tia [17]

Answer:

Unearned Service Contracts Revenue = $330,000

Explanation:

Unearned Service Contracts Revenue refers to the expected revenue from a contracts been carried and has yet been paid.

Unearned Service Contracts Revenue for 2010 = $100,000, for 2011 = $160,000 and for 2012 = $70,000

Unearned Service Contracts Revenue = $100,000 + $160,000 + $70,000

Unearned Service Contracts Revenue = $330,000

7 0

3 years ago

An online clothing boutique decides to install a web or Internet cookie in the browser of each user who visits its site. The pur

____ [38]

Answer:

a practice that may have longer term implications on the ethics of personal privacy

Explanation:

Cookies are a tool that is used on websites to identify user browser history.

The information on a user's browsing habits is then used by businesses to tailor display information relevant to what they are usually interested in.

Usually they are a safe way to improve browsing experience, but they can be used by criminals to spy on people and gain unwanted access to their data.

Cookies save information about a user session by storing data like usernames.

There is a long term danger of having one's browsing history tracked without their consent

6 0

3 years ago

A portfolio is composed of two stocks, A and B. Stock A has a standard deviation of return of 17%, while stock B has a standard

Goryan [66]

Answer:

.793

Explanation:

Formula

.032=.7^2*.17^2+.3^2*.23^2+2(.7)(.3)(.17)(.23)p

.032=.0142+.0048+.0164p

.032-.0142-.0048=.0164p

.0164p=.013

p=.013/.0164

p=.793

3 0

2 years ago

Weiland Co. shows the following information on its 2016 income statement: sales = $162,500; costs = $80,000; other expenses = $3

wel

Answer:

The 2016 operating cash flow is $56,905

Explanation:

The computation of the operating cash flow is shown below:

Operating cash flow = Sales - costs - other expenses - depreciation expenses - taxes + depreciation expense

= $162,500 - $80,000 - $3,300 - $9,000 - $22,295 + $9,000

= $56,905

The interest expense should not be considered in the computation part. Hence, ignored it

7 0

3 years ago

On November 1, 2017, Blue Company borrowed from Yellow Bank and received a 9-month note for $60,000 at a 5% interest rate. Inter

frutty [35]

Answer:

In the books of Blue Company:

November 1, 2017:

Debit Cash $60,000

Credit Note payable $60,000

(To record borrowed note from Yellow Bank)

December 31, 2017:

Debit Interest expense $500

Credit Interest payable $500

(Interest expense recognition on note for 2 months)

August 1, 2018:

Debit Note payable $60,000

Debit Interest payable $2,250

Credit Cash $62,250

(To record settlement of note at maturity)

In the books of Yellow Bank:

November 1, 2017:

Debit Note receivable $60,000

Credit Cash $60,000

(To record note receivable from Blue Company)

December 31, 2017:

Debit Interest receivable $500

Credit Interest revenue $500

(Interest revenue recognition on note for 2 months)

August 1, 2018:

Debit Cash $62,250

Credit Note receivable $60,000

Credit Interest receivable $2,250

(To record note collection at maturity)

Explanation:

Note receivable is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.

Interest expense / revenue on the notes is calculated as: Principal x Interest Rate x Time

In this case, the total interest expense / revenue is $60,000 x 5%/12 x 9 months = $2,250.

Monthly interest expense / revenue is therefore $2,250 / 9 months = $250.

Therefore, interest expense / revenue recognition for 2 months will be $250 x 2 months (November 1 - December 31) = $500.

8 0

3 years ago