answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Liono4ka [1.6K]
2 years ago
15

On June 30, 2010, Microsoft Corporation was holding $4.8 billion of cash that it had collected from customers in advance for fut

ure software licenses and the future delivery of other products and services. In its financial statements, Microsoft classified and recorded this amount as
Business
1 answer:
iVinArrow [24]2 years ago
7 0

Answer: O the liability Unearned Revenue on its balance sheet.

Explanation:

Unearned Revenue is a liability that goes into the balance sheet to record the cash received for goods and/or services that the company have not delivered yet.

This is so that the company is not in violation of the Accrual Accounting concept known as the Revenue Recognition Principle that states that revenue should be recognised only in the period that they have been earned.

Microsoft in this scenario will record this cash as an Unearned Revenue and then consider it revenue when it has delivered the said goods and services.

You might be interested in
It is the beginning of the football season for the local college team. Martha redecorates the Coffee Collective with a theme tha
Mamont248 [21]

Answer:

Brand association

Explanation:

Brand equity refers to the value that a product receives from associating with a renowned brand. Brand association is one of the components of brand equity. Brand association refers to those images or symbols that customers identify with a brand.

Organizations try to instill positive image in the minds of customers through brand association. Here, Martha redecorates coffee collective with pictures of players and coaches as way to promote the team as audience will be be able to connect with the team through the images.

5 0
2 years ago
Vicki entered into a written contract to buy a car from Valley Motors. During the negotiations, the sales representative said th
Bingel [31]

Answer:

No she won't.

Explanation:

Vicki will not be able to present evidence as to the sales representative's statements concerning the warranty that "This writing is the full and final expression of the parties' agreement; anything said before signing or while signing is irrelevant." thereby excluding the car's warranty.

Hence, any evidence of the discussion of the warranty would most likely be excluded by the parol evidence rule.

4 0
2 years ago
Read 2 more answers
Match each scenario with the step in the home-buying process it describes
Tanzania [10]
1 closing,2 appraisal and 4 prequalification
5 0
2 years ago
Read 2 more answers
Azure Inc. assigns $4,000,000 of its accounts receivables as collateral for a $3 million loan with a bank. The bank assesses a 3
Vlad1618 [11]

Answer with its Explanation:

Step 1:

First of all record a loan of $3 million loan:

Dr Bank $3,000,000

Cr Loan      $3,000,000

Step 2:

Finance charge will be 3% on this loan amount:

Dr Finance Charge $3million *3% = $90,000

Cr                   Bank                                       $90,000

Step 3:

The interest on the note is 7% which is $70,000. So the journal entry would be:

Dr Interest Expense $70,000

Cr Interest payable                  $70,0000

8 0
2 years ago
The company that Layton owns, the Music Box, is a family-owned company that has been in business for more than 100 years. Layton
Lisa [10]

Answer:

economic responsibility.

Explanation:

Layton has decided to donate a portion if his business Music Box earning's to a charity every year. His action of making donation decision is of economic responsibility. The decision is made to help out community in a good faith and is considered as social responsibility as Layton does not have any legal responsibility to make charity but still he decides to serve the society through his business earnings.

5 0
2 years ago
Other questions:
  • On July 1, Mabel and Pierre formed a partnership, agreeing to share profits and losses in the ratio of 4:6, respectively. Mabel
    15·1 answer
  • Galvatron Metals has a bond outstanding with a coupon rate of 6.7 percent and semiannual payments. The bond currently sells for
    15·1 answer
  • Stacey inherits unimproved land (fair market value of $6 million) from her father on June 1, 2019. She disclaims her interest in
    9·1 answer
  • Calculating and Interpreting EPS Information Wells Fargo reports the following information in its 2015 Form 10-K. In millions 20
    7·1 answer
  • Evaluate the following statement. "We shouldn’t generalize from what people do in the ultimatum game because $10 is a trivial am
    7·1 answer
  • Assume you have a home that would cost $265,000 to replace. You currently have the home insured for $235,000. Last night there w
    11·1 answer
  • Decision Point: Your Second Meeting: Furniture Assembling of wooden table with screwdriver Your next client is a retailer of rea
    8·1 answer
  • Chen Company's account balances at December 31, 2017 for Accounts Receivable and the Allowance for Doubtful Accounts are $800,00
    6·1 answer
  • Determine whether each characteristic describes a general partnership (GP), limited liability company (LLC), both, or neither.
    15·1 answer
  • Strongheart Enterprises anticipated selling 27,000 units of a major product and paying sales commissions of $6 per unit. Actual
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!