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IrinaVladis [17]
1 year ago
11

Suppose Cardullo’s gift cards expire after one year. A customer had a gift card for $100, of which he used $75 to purchase gourm

et cheeses. At the end of the year, the card expires with $25 unredeemed. How do you think Cardullo’s should account for the unredeemed amount?
Business
1 answer:
lina2011 [118]1 year ago
3 0

Answer:

Cardullo

Unredeemed Gift Card amount:

The $25 of the unredeemed gift card should be credited to Revenue Account and debited to the Deferred Revenue Account as expired gift card.

Explanation:

Gift cards establish some form of deferred revenue or gift card liability which the Cardullo must settle with the exchange of goods or services in the future.  However, if a customer is unable to redeem his gift card balance of $25 because of expiration, the revenue due on the expired portion, Cardullo must then credit the $25 to the Revenue account and debit the Deferred Revenue or Gift Card Liability account to close this unredeemed portion.

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The table below describes the total and marginal benefit elvis gets from fried peanut butter and banana sandwiches. elvis' fried
ycow [4]
I looked up the question, since this one is incomplete. I've attached an image of the correct chart. Elvis' marginal benefit of the fourth sandwich is his total benefit of eating 4 sandwich minus his total benefit from eating 3 sandwiches.

Looking at the chart, we see that this gives us 81-75 = 6. 

Therefore, the Marginal Benefit of a fourth sandwich is 6. 

6 0
1 year ago
Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are p
PilotLPTM [1.2K]

Answer:

The number of units the company would have to manufacture during the year would be 780,000 units

Explanation:

To find out how much purchase is made, first we have to calculate the production level. The equation for production level is shown below:

Production level = Closing stock of finished goods + Sales - Opening stock of finished goods

= 76,000 + 730,000 - 26,000

= 780,000 units

Rest cost like opening and ending balance of raw material , required gram is irrelevant for computation part. Thus, it is not considered.

Hence, The number of units the company would have to manufacture during the year would be 780,000 units

8 0
2 years ago
Skysong, Inc. returned $140 of goods originally purchased on credit from Concord Industries. Using the periodic Inventory approa
lara31 [8.8K]

Answer:

Sales Returns and Allowances $140 and Accounts Receivable $140

Explanation:

When goods are returned, the sales revenue decreases through Sales Returns and Allowances which is an expense so it is debited and the goods sold on account so the Accounts Receivable which is an asset decreases so it is credited.

Date   Account Titles and Explanations    Debit   Credit

          Sales Returns and Allowances          $140

                 Accounts Receivable                                $140

           (To record sales returns)  

6 0
1 year ago
How might a Walmart representative respond to the negative criticisms that might be brought up, and what other benefits could th
Tomtit [17]

Answer:

1. Owners of diminutive businesses located nearby.

As Wal-Mart offers comparatively low prices for the products, more and more customers will be magnetized to it and hence the minuscule businesses can lose their customers. But the overall business of the local area will increment as more people will come to buy in the Wal-Mart, after shopping in the Wal-Mart, they can stop for victualing street-aliment or do some street shopping or take some accommodations from street like shoe-polishing and all. Due to the Wal-Mart in the area, there will be demand for genuine estate as people will ask for the house near Wal-Mart.

2. Town denizens and denizens of nearby towns.

Town denizens will be ecstatic as they can find most of the things they optate under one roof. Due to this, they can preserve their time and mazuma. But there can be negative effects on environment, as so many trees are being cut to build a building and parking space. There can be incremented noise and air pollution due to the customers’ conveyances. Town denizens fear that there can be a sexual discrimination while giving employment and salaries.

Explanation:

Hope this helps

4 0
2 years ago
Record the issuance of additional shares for $1,469 cash; total par value was $1 and the rest was in excess of par value.
mel-nik [20]

Answer:

cash                       1,469 debit

  common stock                        1 credit

  additional paid-in             1,468 credit

--to record issuance of shares in exchange of cash--

Explanation:

We are given the fact that total par value of the shares is $1

thus, the remained will be additional paid-in excess of Common stock.

We debit the cash received as it is an asset

Then, we credit both, common stock and additional paid-in excess of Common Stock as they are equity accounts.

7 0
1 year ago
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