provide an example of a country that has been able to curb/ significantly reduce their corruption levels in modern history (i.e., the last 50-100 years). What factors contributed to the ability to accomplish this? How did this positive trend impact the country’s overall development, including its economic development? Billing charges for Microsoft 365 Commercial licensing.When a customer purchases a subscription and changes the amount during the subscriptionperiod, a full refund is credited then prorated for what was used.For example, if a customer purchased 2 subscriptions for the month of June at $15 each, the totalcharge for the month would be $30. If they decide to return one subscription 5 days later, the full$30 would be credited then a prorated charge for what was used would be applied.Credit $30Charge $15Charge $0.5 * 5 = $2.50$15/30 $0.5 p/day=Total Charge $17.50Total Credit $12.50If a customer purchases 10 Microsoft 365 Business Premium licenses at $22 each per month, for afull year then 6 months later decides they only need 5 licenses for the remainder of the year,what would be the total charge and credit for the year?

Your answer: The customer would be charged for 10 licenses for the first 6 months, and then 5…

If a customer purchases 10 Microsoft 365 Business Premium licenses at $22 each per month, for a full year then 6 months later decides they only need 5 licenses for the remainder of the year, what would be the total charge and credit for the year?

If a customer purchases 10 Microsoft 365 Business Premium licenses at $22 each per month, for a full year then 6 months later decides they only need 5 licenses for the remainder of the year, what would be the total charge and credit for the year?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 11RE

See similar textbooks

Related questions

Q: what is the value of $100

A: The future value of money is determined by compounding the original amount with interest. It…

Q: Griffins Goat Farm, Inc., has sales of $671,000, costs of $333,000, depreciation expense of $77,000,…

A: Total Dividend Paid $ 44,500.00 No. of Shares 28,000.00 Tax Rate 24% Sales…

Q: The 2020 balance sheet of Dugan, Incorporated, showed current assets of $3,160 and current…

A: Given, The current assets of 2020 are $3160 The current liabilities of 2020 are $1560 The current…

Q: 1. What is the future worth of a series of equal yearly deposits of Php 100,000 for 8 years in a…

Q: Suppose Mwanga holds a stock security paying dividend of D0 = K2000 per year and his security is…

A: As per honor code of Bartleby we are bound to give the answer of first three sub part, please post…

Q: 1) Canuck Oil is also exposed to interest rate risk, as it has issued 2,000 fixed rate coupon bonds…

A: An interest rate swap is a forward contract in which one stream of future interest payments is…

Q: Walsh Company is considering three independent projects, each of which requires a $6 million…

A: The company has several capital projects to invest in, following an optimal capital structure. It…

Q: 18. It's necessary to register a sole proprietorship if A. the owner is operating under his own…

A: Sole Proprietorship: Sole proprietorship is the business run only single person. He will be called…

Q: A. Giant Growth Co. is growing fast Dividends are expected to grow at a 20% growth rate for the next…

A: D0 1.40 Growth Rate for 3 years 20% Growth Rate in 4th year 30% Growth Rate After 4th year 7%…

Q: Anthony and Michelle Constantino just got married and received $28,000in cash gifts for their…

A: Data given: Amount received =$28,000 PV=Amount to be invested = $28000 /2 = $14000 r=Rate = 10%…

Q: Avalon Inc. is considering a new investment. The initial cost of the machinery is $184,000. Avalon…

A: Initial cost = $184,000 Useful life = 5 Year Salvage Value = $10,000 Annual depreciation expense =…

Q: Are you agree with the phrase (sentence): "In the following case, A risk aversion person will not…

Q: Consider the following data: Monthly Profit of a Gym Month Jan-12 Feb-12 Mar-12 Apr-12 May-12…

A: Moving average A stock indicator used in technical analysis that helps in calculating the moving…

Q: $5,000 invested for 10 years at 9 percent compounded annually will accumulate to

A: Initial investment (I) = $5,000 Investment period (n) = 10 Years Interest rate (r) = 0.09 or 9%…

Q: The two main approaches to equity analysis are the relative valuation models and…

A: ANSWER: Option C ;The discounted cash-flow models.

Q: Suppose a state lottery prize is to be paid in 25 payments of $240,000 each at the end of each of…

A: Given, The payment is $240,000 Term of investment is 25 years

Q: annuity that pays $800 each year? If this was an annuity due, what would its future value be?

A: Annuity due is annuity that pay the payment in beginning of period but ordinary annuity payments are…

Q: Firm A and Firm B have debt-total asset ratios of 32 percent and 22 percent, respectively, and…

A: Debt to total asset ratio for Firm A is 32% Debt to total asset ratio for Firm B is 22% Return on…

Q: oblem 3-2 Equity Multiplier and Return on Equity Kodi Company has a debt-equity ratio of .86. Return…

A: a) The equity multiplier is 1.14 b) The return on equity is 10.53%. c) The net income is…

Q: Present Value $ 610 940 26,350 43,500 Years Interest Rate -7% 8% 9% 11 % $ Future Value 1,389 1,821…

A: calculation of number of years by using excel function NPER NPER functions syntax is…

Q: Gbenda Corporation has sales of $91,200, net income of $18,240, dividends paid of $3,830, total…

Q: Why is the relationship between price and yield negative? a. Because investors reward higher…

A: The bond price and yield is inversely related. That means if the bond price increases the yield will…

A: As per the given information: Amount of loan - $164,000 Rate of interest - 8% Period - 11 years To…

Q: You need to have $25000 for a down payment on a house in 5 years. If you can earn an annual interest…

A: Concept is of present value. Present value is the current value of a future cash flow at a specified…

Q: 5-21 EVALUATING LUMP SUMS AND ANNUITIES. Kristina just won the lottery, and she must choose among…

A: As per Bartleby guidelines,If a question with multiple sub-parts are posted, first 3 sub-parts will…

Q: For life insurance policies, some of the premium pays for the cost of the insurance, and the…

A: Here, To Find: Part A. APY (Annual Percentage Yield) =? Part B. Higher yield offered =?

Q: What's the value to you of a $1,000 face-value bond with an 11% annual coupon rate and 11 years to…

A: As per the given information: Face value - $1,000 Coupon rate - 11% Years to maturity - 11 years…

Q: Income Statement for the year ended December 31, 2021 Net sales $65,117 Gain on disposal of fixed…

A: A statement of cash flows is prepared to know the cash inflows and cash outflows of the company…

Q: AVC firm is willing to invest $40 million in a startup, which is expected to generate $150 million…

A: To Find: % of Ownership in startup

Q: Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in…

A: Given, The net income is $987 The common stock in the year 2016 is $3,240 The common stock in the…

Q: What is the external financing needed?

A: External Financing Needed: These are the funds required by an organization from external sources to…

Q: Y3K, Incorporated, has sales of $6,269, total assets of $2,885, and a debt-equity ratio of 1.80. If…

A: Select financials information have been given. Return on equity (ROE) is known. We have to establish…

Q: Bears, Inc. is considering investing in testing equipment to improve the quality control of its…

A: Internal rate of return :- One of the capital budgeting technique called internal rate of return…

Q: 3.1 REQUIRED Calculate the following for both projects from the information provided below: 3.1.1…

A: Payback period The time that a project undertakes to recover the funds invested in a project is…

Q: Alice is considering an investment if she undertakes the investment, she will receive $5000 at the…

A: NPV is net present value which can be found from the difference between the present value of…

Q: Burnem Inc. manufactures thumb drives and sells them to a distributor. Burnem's total cost and total…

A: Break Even is a point where total cost = total revenue Total Cost = Total revenue x = The…

Q: Jack asked Jill to marry him, and she has accepted under one condition: Jack must buy her a new…

A: Initial amount (I) = $57,940 Future amount required (FV) = $340,000 Annual return (r) = 0.045 or…

Q: Assume that in January 2017, the average house price in a particular area was $294,500. In January…

A: Growth rate The rate of change in value from one period to another is called the growth rate. Growth…

Q: Who performs financial analysis to make operating, financing, and investment decisions of a company?…

A: The company is established to earn profit and achieve financial success. The entity needs to ensure…

Q: contract. HIS quartert is negotiating his opportunity cost is 7%. He has been offered three possible…

A: Calculate the future value of all contract streams of cash flows at 7%: Present value of cash flow…

Q: Tuli Super Minerals of Manicaland exports raw diamonds valued at one million pounds (£1,000,000) on…

A: The money market hedge is used by companies to hedge a transaction with a foreign company. It…

Q: Deposits of $850 per month are made into an investment account. The interest rate is 6.5% per annum…

A: Monthly deposit (m) = $850 Monthly interest rate (r) = 0.00541666666666667 (i.e. 0.065 / 12)…

Q: . Jane Muyaule has been given an opportunity to receive K20,000, six years from now. If she can earn…

A: B) In this question we are given Future value which is the amount Jane will receive after 6 years as…

Q: If the market is efficient with respect to one information set i.e. either weak, semi-strong or…

A: Market efficiency refers to the reflection of the current prices of all the relevant information…

Q: The Everly Equipment Company’s flange-lipping machine was purchased 5 years ago for $55,000. It had…

A: NPV is used to find out the profitability of a project. It is calculated by discounting future cash…

Q: Which of the following statements is most correct? Group of answer choices The value of a perpetuity…

A: Time value of money: Time value of money is the concept that a sum of money is worth more right now…

Q: Using net present value (NPV) analysis, would the C Division manager want to invest in the new…

Q: Are you agree with the phrase(sentence): "In the following case. a risk aversion person will not…

A: In the above question we are given ENPV which means expected net present value from a project and…

Q: A new employee charged $4710 on his credit card to relocate for his first job. After noticing that…

A: Data given: PV= $4710 r=27% compounded monthly n= 2 years Working Note #1 Calculation of monthly…

Q: What is the five firm concentration ratio?

A: Concentration ratio- It is defined as the collective market share of the largest firm in an…

Question

provide an example of a country that has been able to curb/ significantly reduce their corruption levels in modern history (i.e., the last 50-100 years). What factors contributed to the ability to accomplish this? How did this positive trend impact the country’s overall development, including its economic development?

Billing charges for Microsoft 365 Commercial licensing.
When a customer purchases a subscription and changes the amount during the subscription
period, a full refund is credited then prorated for what was used.
For example, if a customer purchased 2 subscriptions for the month of June at $15 each, the total
charge for the month would be $30. If they decide to return one subscription 5 days later, the full
$30 would be credited then a prorated charge for what was used would be applied.
Credit $30
Charge $15
Charge $0.5 * 5 = $2.50
$15/30 $0.5 p/day
=
Total Charge $17.50
Total Credit $12.50
If a customer purchases 10 Microsoft 365 Business Premium licenses at $22 each per month, for a
full year then 6 months later decides they only need 5 licenses for the remainder of the year,
what would be the total charge and credit for the year?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Unearned Sales Revenue Curtiss Carpet Cleaning normally charges $90 to clean one room of carpeting. During the holiday season, Curtis offers a promotion to clean the customers carpet 10 times at a discounted rate if the customer pays $600 in advance. Required: Make the journal entry to record the following transactions. 1. A customers prepayment of $600 2. Curtiss cleaning of the carpet one time
American Signs allows customers to pay with their Jones credit card and cash. Jones charges American Signs a 3.5% service fee for each credit sale using its card. Credit sales for the month of June total $328,430, where 40% of those sales were made using the Jones credit card. Based on this information, what will be the total in Credit Card Expense at the end of June?
Unearned Sales Revenue Brand Landscaping offers a promotion where a customers lawn will be mowed 20 times if the customer pays $700 in advance. Required: Prepare the journal entry to record (1) the customers' prepayment of S700 and (2) Brands mowing of the lawn one time.
On March 1, Bates Board Shop sells 300 surfboards to a local lifeguard station at a sales price of $400 per board. The cost to Bates is $140 per board. The terms of the sale are 3/15, n/30, with an invoice date of March 1. Create the journal entries for Bates to recognize the following transactions. A. the initial sale B. the subsequent customer payment on March 10
Sunrise Flowers sells flowers to a customer on credit for $130 on October 18, with a cost of sale to Sunrise of $50. What entry to recognize this sale is required if Sunrise Flowers uses a periodic inventory system?
A plumbing supply company has a discount policy which states that, if a customer pays within 15 days of the invoice, the customer can take a 3% discount; otherwise, the full amount is due in 60 days from the date of the invoice. Which of the following notations are used in business to reflect this discount? A. 3/15,n/60 B. 3/60,15/n C. 15/3,60/n D. 3/n,15/60
Merry Maidens Cleaning generally charges $300 for a detailed cleaning of a normal-size home. However, to generate additional business, Merry Maidens is offering a new-customer discount of 10%. On May 1, Ms. E. Pearson has Merry Maidens clean her house and pays cash equal to the discounted price.Required:Record the revenue recognized by Merry Maidens Cleaning on May 1.
Sell4U is an online site that allows its clients to post items for sale. Sell4U charges a 5% brokerage fee for use of the site, payable within 10 days of the sale. As an agent, Sell4U may recognize revenue for the brokerage fee as soon as an item is sold. True or False
A home gods retailer offers a sales incentive program where customers receive credit towards future purchases based on the dollar amount of their purchases today. For every $10 spent, a customer receives a $1 credit to use in the next 30 days. Based upon historical trends, the firm estimates that 35% of the credits will be redeemed. In the next month, consistent with the firm’s estimate, 35% of the credits were redeemed. The entry recorded to account for the redemption of these credits (excluding the effect of the costs of sales entry): A.) Increases Liabilities, Increases Stockholders’ Equity B.) Increases Liabilities, Reduces Stockholders’ Equity C.) Reduces Liabilities, Reduces Stockholders’ Equity D.) Reduces Liabilities, Increases Stockholders’ Equity C.) No entry needed
Lamplight Plus sells lamps to consumers. The company contracts with a supplier who provides them with lamp fixtures. There is an agreement that Lamplight Plus is not required to provide cash payment immediately and instead will provide payment within thirty days of the invoice date. Additional information: Lamplight purchases thirty light fixtures for $20 each on August 1, invoice date August 1, with no discount terms Lamplight returns ten light fixtures (receiving a credit amount for the total purchase price per fixture of $20 each) on August 3. Lamplight purchases an additional fifteen light fixtures for $15 each on August 19, invoice date August 19, with no discount terms. Lamplight pays $100 toward its account on August 22. What amount does Lamplight Plus still owe to the supplier on August 30? What account is used to recognize this outstanding amount?
You buy goods for $3,000 and receive a voucher for $500 off your next purchase within 30 days. Based on historical experience, the vendor estimates that 90% of its customers use these vouchers. How much revenue should the vendor recognize immediately at the time of your original purchase?
The credit terms offered to a customer by a business firm were 2/10, n/30, which means the customer can deduct a 2% discount if the bill is paid between the 10th and 30th day from the invoice date. the customer can deduct a 2% discount if the bill is paid within 10 days of the invoice date. two sales returns can be made within 10 days of the invoice date and no returns thereafter. the customer must pay the bill within 10 days.