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answer 6,8,9 unearned revenue will exist as of December 31? 6. Venible newspapers sold 6,000 of annual subscriptions at S150 each on June 1. How
answer 6,8,9
unearned revenue will exist as of December 31? 6. Venible newspapers sold 6,000 of annual subscriptions at S150 each on June 1. How much a. $900,000 b. $450,000 c. $375,000 d. SO 7. In a statement of cash flows, receipts from sales of property, plant, and equipment and other productive assets should generally be classified as cash inflows from: a. selling activities b. operating activities c. financing activities d. investing activities 8. Maso Co. assigned $1,600,000 of accounts receivable to Panda Finance Co. as security for a loan of $1,200,000. Panda charged a 2% commission on the amount of the loan; the interest rate on the note was 10%. During the first month, Maso accepted returns worth $7,500 and wrote off assigned accounts totaling $11,300. The amount of cash Maso received from Panda at the time of the assignment was: a. $1,181,200 b. $1,176,000 c. $1,168,000 d. $1,080,000 9. Merritt Equipment Company sells parts to Kane Repair during 2020. Merritt offers discount of 5% if the customer's purchases for the year exceed $100,000. In the past, Kane normally purchases $200,000 in parts during a calendar year. On April 30, 2020, Kane Repair purchased $80,000 of parts. What amount of revenue should Merritt record in connection with the April 30, 2020 sale? a. $76,000 b. $80,000 c. $100,000 d. $190,000 Step by Step Solution
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