Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on the extent of damage and the amount of data being recovered. DRS offers a 20% discount to students and faculty at educational institutions. Consider the following transactions during the month of June.
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Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on the extent of damage and the amount of data being recovered. DRS offers a 20% discount to students and faculty at educational institutions. Consider the following transactions during the month of June.
June | 10 | Rashid’s hard drive crashes and he sends it to DRS. | ||
June | 12 | After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $2,900. | ||
June | 13 | Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him for a 20% educational discount and reducing the cost by $580 ( = $2,900 × 20%). | ||
June | 16 | DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days of today’s date, offering a 3% discount for payment within 10 days. | ||
June | 19 | When Rashid receives the hard drive, he notices that DRS did not successfully recover all data. Approximately 25% of the data has not been recovered and he informs DRS. | ||
June | 20 | DRS reduces the amount Rashid owes by 25%. | ||
June | 30 | Rashid pays the amount owed. |
Show how net revenues would be presented in the income statement.
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- Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on the extent of damage and the amount of data being recovered. DRS offers a 20% discount to students and faculty at educational institutions. Consider the following transactions during the month of June. June 10 Rashid’s hard drive crashes and he sends it to DRS. June 12 After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $2,900. June 13 Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him for a 20% educational discount and reducing the cost by $580 ( = $2,900 × 20%). June 16 DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days of today’s date, offering a 3% discount for payment within 10 days. June 19 When Rashid receives the hard drive, he notices that DRS did not successfully…Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on the extent of damage and the amount of data being recovered. DRS offers a 20% discount to students and faculty at educational institutions. Consider the following transactions during the month of June. June 10 Rashid’s hard drive crashes and he sends it to DRS. June 12 After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $2,900. June 13 Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him for a 20% educational discount and reducing the cost by $580 ( = $2,900 × 20%). June 16 DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days of today’s date, offering a 3% discount for payment within 10 days. June 19 When Rashid receives the hard drive, he notices that DRS did not successfully recover all data.…Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on the extent of damage and the amount of data being recovered. DRS offers a 10% discount to students and faculty at educational institutions.Consider the following transactions during the month of June.June 10 Rashid’s hard drive crashes and he sends it to DRS.June 12 After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $3,000.June 13 Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him for a 10% educational discount and reducing the cost by $300 (= $3,000 × 10%).June 16 DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days of today’s date, offering a 2% discount for payment within 10 days.June 19 When Rashid receives the hard drive, he notices that DRS did not successfully recover all data. Approximately 30% of the…
- Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on the extent of damage and the amount of data being recovered. DRS offers a 10% discount to students and faculty at educational institutions. Consider the following transactions during the month of June. June 10 Rashid’s hard drive crashes and he sends it to DRS. June 12 After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $1,100. June 13 Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him for a 10% educational discount and reducing the cost by $110 ( = $1,100 × 10%). June 16 DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days of today’s date, offering a 2% discount for payment within 10 days. June 19 When Rashid receives the hard drive, he notices that DRS did not successfully…Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on the extent of damage and the amount of data being recovered. DRS offers a 15% discount to students and faculty at educational institutions. Consider the following transactions during the month of June. June 10 Rashid’s hard drive crashes and he sends it to DRS. June 12 After initial evaluation, DRS e-mails Rashid to let him know that full data recovery will cost $2,200. June 13 Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him for a 15% educational discount and reducing the cost by $330 ( = $2,200 × 15%). June 16 DRS performs the work and claims to be successful in recovering all data. DRS asks Rashid to pay within 30 days of today’s date, offering a 4% discount for payment within 10 days. June 19 When Rashid receives the hard drive, he notices that DRS did not successfully recover all data.…Data Recovery Services (DRS) specializes in data recovery from crashed hard drives. The price charged varies based on the extent of damage and the amount of data being recovered. DRS offers a 10% discount to students and faculty at educational institutions. Consider the following transactions during the month of June. June 10 Rashid's hard drive crashes and he sends it to DRS. 12 After initial evaluation, $3,000. June DRS e-mails Rashid to let him know that full data recovery will cost June 13 Rashid informs DRS that he would like them to recover the data and that he is a student at UCLA, qualifying him for a 10% educational discount and reducing the cost by $300 (= $3,000 x 10%). 16 DRS performs the work and claims to be successful in recovering all data. within 30 days of today's date, offering a 2% discount for payment within 10 days. June DRS asks Rashid to pay June 19 When Rashid receives the hard drive, he notices that DRS did not successfully recover all data. Approximately 30%…
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- 2) Jane, a secretary, was laid off. Her employer gave her three weeks notice. After two weeks, Jane realized that finding another job was going to be very tough, and she began to get bitter. Her son told her about a virus that had infected the computers at school. He had a disk infected with the virus. Jane took the disk to work and copied the disk onto the network server, which is also connected to the company’s mainframe. One month later, the company realized that some data and application programs had been destroyed.13. Micromedia offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that the instructor is presenting. Micromedia is currently planning a two-day seminar on the use of Microsoft Excel in statistical analysis. The projected fee for the seminar is $600 per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is $9600. Micromedia rents computers for its seminars at a cost of $60 per computer per day. a. Develop a model for the total cost to put on the seminar. Let x represent the number of students who enroll in the seminar. b. Develop a model for the total profit if x students enroll in the seminar. e. Micromedia has forecasted an enrollment of 30 students for the seminar. How much profit will be earned if its forecast is accurate? d. Compute the breakeven point.Neon Light Company of Kansas City ships lamps and lighting appliances throughout the country. Ms. Neon has determined that through the establishment of local collection centers around the country, she can speed up the collection of payments by one and one-half days. Furthermore, the cash management department of her bank has indicated to her that she can defer her payments on her accounts by one-half day without affecting suppliers. The bank has a remote disbursement center in Florida. a. If Neon Light Company has $2.30 million per day in collections and $1.06 million per day in disbursements, how many dollars will the cash management system free up? (Enter your answer in dollars not in millions (e.g., $1,234,567).) Freed-up funds b. If Neon Light Company can earn 9 percent per annum on freed-up funds, how much will the income be? (Enter your answer in dollars not in millions (e.g., $1,234,567).) Interest on freed-up cash c. If the total cost of the new system is $405,000, should it be…