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gavmur [86]
2 years ago
3

Zeal Company produces and sells bikes. It expects to sell 15,000 bikes in June for the current year and had 1,000 bikes in finis

hed goods inventory at the end of May. Zeal Company would like to complete operations in June with at least 1,700 completed bikes in inventory. The bikes sell for $250 each.What would be the total sales for June?a.$1,250,000b.$4,150,000c.$2,640,000d.$3,750,000
Business
1 answer:
mash [69]2 years ago
5 0

Answer:

The correct answer is D-

Explanation:

Giving the following information:

Zeal Company produces and sells bikes. It expects to sell 15,000 bikes in June for the current year and had 1,000 bikes in finished goods inventory at the end of May. Zeal Company would like to complete operations in June with at least 1,700 completed bikes in inventory. The bikes sell for $250 each.

Sales= 15,000*250= $3,750,000

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Date              Account Titles and Explanation     Debit       Credit

July 1, 2022 Cash                                            $22,400

Unearned Service Revenue                                             $22,400

To record the receipt of payment for insurance contract for 4 years.

Date                          Account Titles and Explanation     Debit       Credit

December 31, 2022 Unearned Service Revenue         $2,800

Service Revenue                                                                            $2,800

To record the service revenue earned from July 1, 2022 to December 31, 2022.

Data Analysis:

July 1, 2022 Cash $22,400 Unearned Service Revenue $22,400

December 31, 2022 Unearned Service Revenue $2,800 Service Revenue $2,800 ($22,400 x 6/48)

Thus, only $2,800 is credited to the Service Revenue account for the year ended December 31, 2022.

Learn more on adjusting Unearned Service Revenue at brainly.com/question/14783594

3 0
2 years ago
Portions of the financial statements for Software Associates are provided below. SOFTWARE ASSOCIATES Income Statement For the ye
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Answer:

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

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Adjustment made:

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Business solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. the $159
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Answer:

Business Solutions

Second-quarter 2018

Fixed Budget Performance Report

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Variable expenses for desks $104,720              $104,720*

Variable expenses for chairs,   $20,800             $20,800*

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2 years ago
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Answer:

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