Blossom sells 20 nonrefundable $110 gift cards for 3-D printer plastic on March 1, 2017. The...
Blossom sells 20 nonrefundable $110 gift cards for 3-D printer
plastic on March 1, 2017. The plastic has a stand-alone selling
price of $110 (cost $80). The gift card expiration date is June 30,
2017. Colbert estimates that customers will not redeem 10% of these
gift cards. The pattern of redemption is as follows.
| Cumulative Redemption Rate to Date |
||
| March 31 | 50% | |
| April 30 | 80% | |
| June 30 | 85% |
Prepare the 2017 journal entries related to the gift cards at March
1, March 31, April 30, and June 30.
Homework Answers
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Blossom sells 20 nonrefundable $110 gift cards for 3-D printer
plastic on March 1, 2017. The...
Cullumber sells 20 nonrefundable $90 gift cards for 3D printer paper on March 1, 2020. The...
Cullumber sells 20 nonrefundable $90 gift cards for 3D printer paper on March 1, 2020. The paper has a standalone selling price of $90 (cost $72). The gift cards expiration date is June 30, 2020. Cullumber estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows. Redemption Total March 31 50 % April 30 80 June 30 85 Prepare the 2020 journal entries related to the gift cards at March 1, March...
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20. 20 Ozark Distributing Company is primarily engaged in the wholesale distribution of consumer products in...
20.
20 Ozark Distributing Company is primarily engaged in the wholesale distribution of consumer products in the Ozark Mountain regions The following disclosure note appeared in the company's 2018 annual report . 0.35 points Note 5. Convertible Preferred Stock (in part) The Company has the following Convertible Preferred Stock outstanding as of September 2018: Date of issuance: Optionally redeemable beginning: Par value (gross proceeds): Number of shares: Liquidation preference per share: Conversion price per share: Number of common shares in...
20. please answer this correctly and show the formulas if u can. this assignment is due...
20.
please answer this correctly and show the formulas if
u can. this assignment is due soon.
Return to question 20 Ozark Distributing Company is primarily engaged in the wholesale distribution of consumer products in the Ozark Mountain regions. The following disclosure note appeared in the company's 2018 annual report 035 points Note 5. Convertible Preferred Stock (in part) The Company has the following Convertible Preferred Stock outstanding as of September 2018 Date of issuance: Optionally redeemable beginning: Par value...
CASH BUDGET WITH EXPLANATION Budget Information. December 2017 - March 2018 our bank account Assignment 5...
CASH BUDGET WITH EXPLANATION Budget Information. December 2017 - March 2018 our bank account Assignment 5 Part A THE CASH BUDGET WITH EXPLANATION Millennium Corporation Cash Budget Information - December 2017 - March 2018 Budget Items Total Sales Credit Sales December 1.200.000 1.080.000 January Jar 1.500.000 1.350.000 February 1300000 1,300,000 1.170,000 March 1,400,000 1,260,000 300.000 30.000 15.000 310,000 30,000 16,000 Wages & Salaries Rentals Other Expenses Taxes Paid Dividends Equipment Purchase Cash Balance 325,000 30.000 17.000 150,000 50.000 declared 90,000...
Required: 1. What is the amount of Apple’s accounts receivable as of September 30, 2017? 2....
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
Waterway sells 20 nonrefundable $90 gift cards for 3D printer paper on March 1, 2020. The paper has a standalone selling price of $90 (cost $72). The gift cards expiration date is June 30, 2020. Waterway estimates that customers will not redeem 10% of these gift cards. The pattern of redemption is as follows. March 31 April 30 June 30 Redemption Total 50 % 80 85 Prepare the 2020 journal entries related to the gift cards at March 1, March...
Respond to the requirements related to each revenue arrangement Click here to view the factoritate PRESENT VALLELE Cook here to view the factor table SESENTYALUE OF AN ANNUITY (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to decimal places. e. 5.275.) your answer is partially correct. Try again Blossom sells 3-D printer systems. Recently, Blossom provided a special promotion of zero-interest financing for two years on any new 3D printer...
20.
20 Ozark Distributing Company is primarily engaged in the wholesale distribution of consumer products in the Ozark Mountain regions The following disclosure note appeared in the company's 2018 annual report . 0.35 points Note 5. Convertible Preferred Stock (in part) The Company has the following Convertible Preferred Stock outstanding as of September 2018: Date of issuance: Optionally redeemable beginning: Par value (gross proceeds): Number of shares: Liquidation preference per share: Conversion price per share: Number of common shares in...
20.
please answer this correctly and show the formulas if
u can. this assignment is due soon.
Return to question 20 Ozark Distributing Company is primarily engaged in the wholesale distribution of consumer products in the Ozark Mountain regions. The following disclosure note appeared in the company's 2018 annual report 035 points Note 5. Convertible Preferred Stock (in part) The Company has the following Convertible Preferred Stock outstanding as of September 2018 Date of issuance: Optionally redeemable beginning: Par value...
CASH BUDGET WITH EXPLANATION Budget Information. December 2017 - March 2018 our bank account Assignment 5 Part A THE CASH BUDGET WITH EXPLANATION Millennium Corporation Cash Budget Information - December 2017 - March 2018 Budget Items Total Sales Credit Sales December 1.200.000 1.080.000 January Jar 1.500.000 1.350.000 February 1300000 1,300,000 1.170,000 March 1,400,000 1,260,000 300.000 30.000 15.000 310,000 30,000 16,000 Wages & Salaries Rentals Other Expenses Taxes Paid Dividends Equipment Purchase Cash Balance 325,000 30.000 17.000 150,000 50.000 declared 90,000...
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
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