Home / Questions / he Spinnaker Company received $4,500 in cash from a customer who ordered a customer sail
How Unearned Revenue inks Cash and SalesRevenue
On March 15, the Spinnaker Company received $4,500 in cash from a customer who ordered a customer sail for her racing yacht. The company completed the sail and delivered it on April 30. The Spinnaker Company incurred costs of $3,000 in making the sail. Assume the company recorded the manufacturing costs in the Merchandise Inventory account.
Example:Date Cash UnearnedRevenue Sales Revenue
Feb.24 3,000 3,000
Mar.3 -3,000 3,000
Net result 3,000 0 3,000
Apr 30 2018 View more View Less
An increase in the supply of loanable funds will decrease the rate of interest.32. Interest rates and the present value of a physical or financial asset ar...
Dec 11 2019The two legs of a right triangle measure 6 and 8 inches respectively. What is the area of the circle that contains all 3 vertices of the triangle?
Aug 08 2020Assume that you recently graduated and you just landed a job as a financial planner with the Cleveland Clinic. Your first assignment is to invest $100,000. Because the fu...
Apr 23 2020Preferred Products has issued preferred stock with an $8.25 annual dividend that will be paid in perpetuity.a.If the discount rate is 11%, at what price should the prefer...
Aug 27 2020An ideal air-standard Diesel cycle engine has a compression ratio of 18 and a cutoff ratio of 2. At the beginning of the compression process, the working fluid is at 100 ...
May 10 2020A steel spacing bar of length 0.5 m is assembled in a structure whilst the temperature is 20°C. What will be its change in length if the temperature rises to 50°C? What w...
Jun 24 2020A marketing firm tests three different brands of energy drinks to see how many equivalents ofpotassium per quart each contains. The results are given below.Brand A Brand ...
Apr 20 2020O’Conner Services, Inc., began 2016 with total assets of $235 million and ended 2016 with assets of $355 million. During 2016, O’Conner Services earned revenues of $397 m...
May 23 2020Can a firm’s average variable costs be falling if they are less than the firm’s marginal costs? Explain.4. Can a firm’s average cost be rising if it is great...
Dec 10 2019Because of the burden that “junk mail” places on society (depleted landfills, declining timber supplies, an overburdened postal system), how can it be justified?
May 01 2020