For a recent year, microsoft corporation (msft) reported short-term unearned revenue of $23,223 million. for the same year, microsoft also reported total revenues of $93,580 million.
a. assume that microsoft recognized $2,000 million of unearned revenue as revenue during the year, what entry for unearned revenue did microsoft make during the year

Answers

Answer 1

Given:
short-term unearned revenue of $23,223 million.
total revenues of $93,580 million.

assume that microsoft recognized $2,000 million of unearned revenue as revenue during the year

We only consider two figures in this problem. 1) 23,223 million short-term unearned revenue and the 2,000 million unearned revenue recognized as revenue for this year.

There are two ways of recognizing the unearned revenue and its corresponding adjusting entry is dependent on its initial recognition.

Liability method of Recording Unearned Revenue: (in millions)
Debit Credit
Cash 23,223
Unearned Revenue 23,223

Adjusting entry:
Unearned Revenue 2,000
Service Income 2,000

Income Method of Recording Unearned Revenue

Cash 23,223
Service Income 23,223

Adjusting Entry

Service Income 21,223
Unearned Income 21,223

Related Questions

Janice hartley works as a writer at a fashion magazine in new york. she was recently asked by her editor to write an article on "10 must-haves for the autumn season." her editor has now sent back the article saying it is not interesting enough to hold the attention of the reader. janice is upset and disappointed about the feedback. which component of an attitude is represented in this scenario?

Answers

Final answer:

Janice Hartley's feelings of being upset and disappointed after receiving feedback about her article represents the emotional or affective component of an attitude. Improving the angle, tone, and content of the article are suggested next steps.

Explanation:

The component of an attitude represented in the scenario where Janice Hartley receives critical feedback about her fashion article not being engaging enough is the emotional or affective component. This aspect connects to the feelings or emotions that someone has about a particular subject, attitude, or experience. In this case, Janice is feeling upset and disappointed by her editor's response. Attitudes are comprised of three main components: cognitive (beliefs or thoughts about a subject), affective (feelings or emotions towards a subject), and behavioral (actions in relation to the subject). Janice's response is primarily emotional, which shows she cares about her work and how it is received.

Improving the angle, tone, and content can help in addressing the editor's concerns regarding article's ability to retain reader interest. It has been suggested that a writer must maintain a consistent and appropriate tone, which is an expression of their attitude towards their subject, for an engaging narrative. Using examples, analysis, and evaluations in the reflection on one's own writing is a key to growth and improvement as a communicator.

On march 15, morgan corporation paid $1,000 to buy a one-year insurance policy that will expire exactly one year after the date of purchase. morgan’s accounting clerk tells his supervisor that this transaction will affect only the assets portion of the company’s balance sheet. is the clerk correct? why or why not?

Answers

Yes. It will only affect the asset portion of the company's balance sheet.

When the company buys the one-year insurance policy, the journal entries will be:

Debit Credit
Prepaid insurance 1,000
Cash 1,000

When the insurance expires after a year, the journal entries will be:
Insurance Expense 1,000
Prepaid Insurance 1,000

Note:
Prepaid Insurance and Cash are both found in the assets section of the balance sheet.
Insurance Expense is found in the Income statement of the company and not in the balance sheet.

Juan recently completed 20 years of service in the army. during this time, he managed to save a little money and is entitled to a government pension. his goal is to go back to his home state of colorado and start a business making small, solar powered panels for residential use. although he knows he needs a storefront and manufacturing site, he is not 100% convinced about where to locate. he knows for certain that one of his top priorities is to limit his tax liability associated with this new business. your suggestion for juan is:

Answers

The suggestion suitable for Juan’s situation is for Juan to check out the enterprises zones in the Colorado. Having to check this out will help him to know where to locate his small business and to have a solution in terms of limiting his tax liability in his business.

The storm lasted as long as it takes rice to cook” is an example of

Answers

I believe this is an example of a metaphor or using an expression which does not literally relate to the subject at hand although in this case we know that in a rice cooker it takes only about 20 minutes to cook the rice so though cooking rice and a storm do not normally relate to each other, in the time aspect they may relate.

The storm lasted as long as it takes rice to cook” is an example of:
"Event Time"
This is a beautiful example and often is used to explain the length of an event as cooking of rice is a metaphor used that it can take hours or vary in its duration so does the storm.

Lockheed martin develops action item lists within hours of its weekly program meetings. the purpose of these action item lists is to

Answers

The purpose is to emphasize and put strong pressure for achievement of the tasks designated to various people.
This list comprises of four items, first is the task, secondly the person who is responsible for achieving that task, thirdly the completion date of the task and fourth and last, what should be delivered.

Explain how and why governments may want to regulate the price setting of a natural monopoly.

Answers

The government wants to protect the consumer's interest, that is why they are regulating the monopoly. Monopolies have the power to set higher prices than the competitive market. They regulate monopolies to prevent excess prices, quality of service( to ensure the firm receives minimum standard of service), monopoly power,promote competition, and natural monopolies( we cannot encourage competition, and it is essential to regulate firm to prevent monopoly of power).

In commercial food manufacturing, what is the purpose of hydrogenation?

Answers

A) to make an unsaturated fat more saturated B) to reduce the amount of "empty calories" in a carbohydrate C) to convert fatty acids into amino acids D) to convert vitamins into minerals

According to hill and schilling, which of these would be considered an important step in a formal strategic management process?

Answers

The correct answer is DEFINE THE COMPANY' CORPORATE MISSION AND MAJOR CORPORATE GOALS.
According to Hill and Schilling, there are five important steps in a formal strategic management process,these are:
1. Select the corporate mission and major corporate goals.
2. Analyse the company's external competitive environment to identify opportunities and threats.
3. Analyse the company's internal environment to analyse its strengths and weaknesses.
4. Select strategies that build on the organisation's strengths and reduce its weaknesses.
5. Implement the strategies.

Suppose a 10% increase in the price of aspirin leads to a 5% decrease in the quantity demanded of aspirin. the demand for aspirin, therefore, is

Answers

The answer is that the demand for aspirin is inelastic.
Inelastic demand is the type of demand when the percentage change in price is greater and the percentage change in demand decreases less than that.
for example if the price of something increases by 50 percent but demand of that thing decreases by only 5 percent than we can say that this is inelastic demand. in this case price of aspirin increases 10 percent but demand decreases 5 percent so the demand is inelastic demand.

If lucinda has only $18 to spend and the price of kewpie dolls and the price of beanie babies are both $6, how many of each would lucinda buy if she were rational?

Answers

Lucinda could buy either 2 kewpie dolls and 1 beanie baby, or 1 beanie baby and 2 kewpie dolls at $6 a piece if she has $18. Rationally, Lucinda would want at least one of each toy. Whether she went with the first or second option the amount she would spend would be as follows: $6Ă—3 toys=$18.

One significant difference between an electronic meeting and a video conference is ___________.

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a. video conference participants are generally in different locations

The real difference between a mediocre investigator and a star investigator is the __________.

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The difference of a mediocre investigator and a star investigator is that in terms of the evidences that they laid out, they provide it more differently and are not the same as the other even though both are investigators having a specific or same case.

The most important/essential results from the latest decision round that company managers need to

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the essential outcomes from the most recent choice round that organization administrators need to survey/contemplate with a specific end goal to direct their key moves and choices to enhance their organization's intensity and rank among the best performing organizations in the up and coming choice round are the Market Snapshot information in the best 50% of the Competitive Intelligence Report that demonstrates each organization's focused endeavors in each geographic locale

Mintzberg's classification of managerial roles outlines which three main categories?

Answers

Answer:
____________
interpersonal, informational, and decisional .
_________________________________________

Suppose a firm that produces for this market is able to dump toxic chemicals into a river next to its factory, which poisons wildlife and harms the health of nearby residents, who have no business with the company. this scenario can be characterized as , which is an example of .

Answers

This can be characterized as an externality, which is an example of market failure. In such cases, quantity of output produced is greater than the efficient quantity.

More than ________ percent of those holding patents win their infringement suits.

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The correct answer is 60%.

Over 60% of patent holders are successful when bringing infringement suits. This high rate of success ensures that patent holders receive just compensation for their work and that others cannot wrongfully benefit from their ideas. A successful patent infringement suit can require the defendant to pay monetary damages to the patent holder in addition from stopping their wrongful use of the patent.

Reinforcement ,contact ,honesty and fair expection are

Answers

Ways of maintaining relationships.

the answer is Ways of Maintaining Relationships.
- Reinforcement refers to providing help when your partner need it.
- Contact refers to giving affectionate action to your partner on constant basis (such as simple hug or asking his/her condition today)
- Honesty refers to not hiding any problems from your partners, let him/her become a part of your life
- Fair exception refers to not forcing your partner to become something that they're not

what are some consideration that must taken into account to evaluating economics model

Answers

Some considerations that must be taken to evaluate economics model are :

- How the Land is currenly managed and things that will happen if we continue the practice

- What improvements in management practices are possible in present use?

- Other uses that are possible and economically and socially relevant

- Which models offer possibilities of sustained production or other benefits

- What adverse effects, physical, economic or social, are associated with each use?

-will the current input will fulfill current desired production results ?

At orange photography, determining the purpose of your communication is paramount. this represents __________ of the writing process.

Answers

Final answer:

Understanding the purpose of communication is a crucial step in the writing process at Orange Photography, as it helps in shaping the narrative effectively and choosing appropriate media and modes.

Explanation:

Understanding the purpose of communication is a crucial step in the writing process at Orange Photography. This aligns with the stage of planning and organizing ideas. It involves considering the audience's perspective, their knowledge, experiences, and what is important to them, to shape the narrative effectively. Identifying the purpose helps in structuring the project, choosing appropriate media and modes, and communicating the message effectively.

An estimated 3 percent of plastic bags used to carry home groceries and other items end up in creeks, rivers, lakes, and oceans where ducks, turtles, and other wildlife choke on the plastic debris that they mistake for food. sociologists call this situation

Answers

These would be the externality costs of using the plastic bags. While they have the benefit of allowing us, as consumers of groceries, to be able to take the items home easier, they also have the unintended (external) costs of causing damage to wildlife who do not benefit from the use of the bags in any appreciable way.

A firm has return on assets (roa) of 15 percent, and debt-equity ratio of 60 percent. calculate the firm's return on equity (roe).

Answers

Given that a firm has return on assets (roa) of 15 percent, and debt-equity ratio of 60 percent.

Then, equity multiplier = 1 + Debt-equity ratio = 1 + 60/100 = 1 + 0.6 = 1.6

Return on equity (roe) is given by return on asset multiplied by the equity multiplier.

Therefore, the firm's return on equity is 1.6 x 0.15 = 0.24 = 24%.

The income effect of a price change predicts that a _____ in a good's price will _____ consumer purchasing power, leading to a(n) _____ in consumption of _____ goods.

Answers

I will fill in the right answers into the blank:

The income effect of a price change predicts that a fall in a good's price will increase consumer purchasing power, leading to a(n) increase in consumption of normal goods.

Asnwers:

fall; increase; increase; normal

How do you feel about airlines mining your in-flight data? is there any difference from companies mining your credit card purchases or web surfing?

Answers

If airlines are going to mine data from a captive audience several thousand feet in the air then they need to make a bigger deal of noting it. Much like the safety demonstration, before take off they should include a brief statement and have a Q & A sheet in the seat back. In this day and age protecting personal information is a touchy subject and not everyone is aware of that. You would think with the negative press for airlines these days and the huge debacles of cyber attacks and information leaks that airlines would be a bit more transparent on this practice.

"when learning about how organizational buyers buy, what marketing management activity is taking place?"

Answers

In order to best understand how organizational buyers go through the purchase decision journey, it is necessary to employ the primary and secondary forms of marketing research and management activity, as this will provide the necessary data to decipher.

A store will give you a 2.50% discount on the cost of your purchase if you pay cash today. otherwise, you will be billed the full price with payment due in 1 month. what is the implicit borrowing rate being paid by customers who choose to defer payment for the month? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.)

Answers

If the purchase price of your items would be 100 $ then the price you would have to pay immediately is 97,50 $, or 100 $ by the end the month. Compared to the 97,5 $, this is an increase of ((100/97,5)-1)*100 = 2,56410.. or 2,56 %. This is the increase to get back to $ 100. Now if these interests are compounded, it will imply that you have to pay these interests, each month on a growing amount of money. This means that we don't multiplie this percent by 12 but that it goes to the 12th power. In order to do math correctly. You need to make the monthly multiplying factor to the 12th power which is (100/97,5)^12 = 1,35501... This gives (1,35501*100)-100 or 35,50% interest on a yearly basis. Quite high if you think about it.

Final answer:

The implicit borrowing rate for customers who defer payment for a month is approximately 9.23%.

Explanation:

To calculate the implicit borrowing rate being paid by customers who choose to defer payment for a month, we need to compare the two options: paying cash today with a 2.50% discount, or deferring payment for a month at the full price.

Let's assume the full price of the purchase is $X. With the cash discount, the amount to be paid today would be 97.5% of $X (100% - 2.50% discount).

Now, if the payment is deferred for a month, the customer essentially borrowed the cost of the purchase for a month. Therefore, the implicit borrowing rate can be calculated as:

(Full price - Amount paid today) / (Amount paid today) * (12 months)

Substituting the values, we have:

(X - 0.975X) / 0.975X * 12

Simplifying further, the implicit borrowing rate is approximately 9.23%.

Learn more about Implicit borrowing rate here:

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Which organization is likely to face the most complex task environment - a biotechnology company trying to develop a cure for cancer or a large retailer like the gap or macy's? why?

Answers

Final answer:

The biotechnology company is likely to face the most complex task environment due to the challenges in the field of biotechnology and developing a cure for cancer.

Explanation:

The biotechnology company trying to develop a cure for cancer is likely to face the most complex task environment. This is because the task environment refers to the specific external factors that directly affect an organization's operations and goals. The biotechnology company operates in a highly specialized and rapidly evolving field with many scientific, regulatory, and ethical challenges. On the other hand, a large retailer like The Gap or Macy's operates in a less complex task environment as it primarily deals with retailing products and managing customer relationships.

A contractor used dynamite to loosen a rocky hillside. the blast from the dynamite caused a house foundation to crack. the house was located over a half-mile away from the dynamite site. the contractor was careful when using the dynamite and no allegation of negligence is made. however, the house owner claims the contractor is liable for damage to the foundation. is the house owner correct? explain.

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Tanya buys a certain brand of soft drink only when she gets discount coupons for it. she discontinues purchasing it when the discount coupons run out. this is an example of _____.

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This is the concept of extinction at work. When the coupons are available, Tanya is conditioned to purchase the soft drink. However, when there are no coupons available or she does not have any on hand, Tanya's conditioned response disappears and she does not purchase the drink.

Paleoanthropologists would have a greater interest in ____

Answers

The Paleoanthropologists would have a greater interest in the origin of the human ancestors because they focus on studying about the ancestors of the humans with the distant past and they trace it back one by one in order to find out an origin.

Paleoanthropologists would have a greater interest in studying ancestory. Paleoanthropologists study early development of humans and how things have changed as modernization has happened. By studying the early development of humans, they've been able to understand human life and how we have evolved overtime at a much better pace.

You want to buy a new sports car from muscle motors for $48,000. the contract is in the form of a 72-month annuity "due" at a 8.25 percent apr. required: what will your monthly payment be?

Answers

Use the formula of the present value of an annuity due which is
Pv=pmt [(1-(1+r/k)^(-n))÷(r/k)]×(1+r/k)
Pv present value 48000
PMT monthly payment?
R interest rate 0.0825
K compounded monthly 12
N time 72 months
Solve the formula for PMT
PMT=pv÷[[(1-(1+r/k)^(-n))÷(r/k)]×(1+r/k)]
PMT=48,000÷(((1−(1+0.0825÷12)^(
−72))÷(0.0825÷12))×(1+0.0825÷12))
PMT=841.68. ..Answer

Hope it helps!

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