Question
Minarski Electronics sells computers and provides hardware maintenance services. On April 1, Minarski sold a package deal containing a computer and a one-year unlimited maintenance/repair
Minarski Electronics sells computers and provides hardware maintenance services. On April 1, Minarski sold a package deal containing a computer and a one-year unlimited maintenance/repair service for the computer at a bundle price of $1,000, if sold separately, the computer costs $840 and the one-year unlimited maintenance/repair service costs $360. How much revenue does Minarski Electronics recognize for the month ended April 30th, assuming that revenue is accrued monthly? QUESTION 10 Ajax Company purchased a five-year certificate of deposit for its building fund in the amount of $220,000. How much should the certificate of deposit be worth at the end of five years if interest is compounded at an annual rate of 942 TTTT Paragraph Arial 3(12p) TT T1- Of Path QIXA QUESTION 11 The following information relates to a company's accounts recevable. The accounts recmate at the beginning of the year is $400.000 The allowance for uncollectible accounts at the beging of the year is $40.000 tredt balances Credits sales for the year 12.000.000 Accounts written off during the year amounted to $15,000 Cash collected from customers was $1.300.000. The company mates that future bad debts will equal 10% of the year end balance in accounts rece Calculate the ad Dest expense for the year and the balance in the Allowance for Uncollectable Accounts TTTT PA Of QUESTION 12 wet search TTTT p EL D O $ 96 5 9 4 & 7 hp 4 144 C 8 9 R T Y EL F G H J K C V B N M D 0 O 144 P 0122 + = ? pause QUESTION 11 The following information relates to a company's accounts receivable. The accounts receivable at the beginning of the year is $400,000. The allowance for uncollectible accounts at the beginning of the year is $40.000 (credit balance). Credits sales for the year $2,000,000. Accounts written off during the year amounted to $15,000 Cash collected from customers was $1.000.000. The company estimates that future bad debts will equal 10% of the year-end balance in accounts recevable. Calculate the Bad Debt expense for the year and the balance in the Allowance for Uncollectable Accounts TTTT Paragraph Arial 3(120) QIXA
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started