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Lera25 [3.4K]
2 years ago
13

1. What is the effect on the Cash account when a company sells merchandise, but allows the customer to pay later?​

Business
1 answer:
Ket [755]2 years ago
8 0
On the day the cash is received, the Cash account increases, and because of the double entry system, the asset account Accounts Receivable is decreased.
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Bluegill Company sells 7,500 units at $320 per unit. Fixed costs are $120,000 and income from operations is $1,560,000. Determin
Debora [2.8K]

Answer:

a) $96 per unit

b) $224 per unit

c) 70%

Explanation:

We will have to compute variable cost and contribution margin

Sales $2,400,000

7,500 × 320

Less; Variable cost $720,000

Contribution margin $1,680,000

Less : Fixed cost $120,000

Operating income. $1,560,000

a) Variable cost per unit

= Total variable cost ÷ Total number of units

= $720,000 ÷ 7,500 units

= $96 per unit

b) Unit contribution margin

= Selling price per unit - Variable cost per unit

= $320 - $96

= $224

c) Contribution margin ratio

= (Selling price per unit - Variable cost per unit) ÷ Selling price per unit × 100

= ($320 - $96) ÷ $320 × 100

= $224 ÷ 320 × 100

= 70%

7 0
3 years ago
Other things the same, an increase in velocity means that a. the rate at which money changes hands falls, so the price level ris
lisov135 [29]

An increase in the velocity of the money refers to a situation when the rate of changing leads to hand rises and ultimately results in an increase in the price level, indicating an inflation.

<h3>What is velocity of money ?</h3>

Velocity of money refers to a method with the help of which the movement of the money in an economy can be measured. When the number of hands changing money increases, there is an economic growth.

So, option C; states that there is an increase in the velocity of money when the rate at which money changes hands rises, the price level also increases.

Learn more about velocity of money here:

brainly.com/question/13914618

#SPJ1

7 0
2 years ago
Watauga Office Supply paid state unemployment taxes of $168.00. What is the entry to journalize the payment of the unemployment
alisha [4.7K]

Answer:

State unemployment tax payable A/c Dr $168

         To Cash A/c $168

(Being state unemployment taxes are paid for cash)

Explanation:

The journal entry to record the payment of the unemployment taxes is shown below:

State unemployment tax payable A/c Dr $168

         To Cash A/c $168

(Being state unemployment taxes are paid for cash)

For recording this transaction, we debited the State unemployment tax payable as it increase the liability and cash account should be credited as it reduce the current assets

7 0
3 years ago
Jose opened a Premier account at City National Bank of Iowa with a minimum required deposit of
Andrew [12]

Answer:

$1,025.299

Explanation:

The formula for compound interest is

FV = PV × (1+r)^ n

Where Fv is the future value

Pv is the present value = $1000

r is interest rate = 1/2 %  or 0.5% per year

n is five years

interest is compounded quarterly,  

Interest per quarter = 0.5% /4 = 0.125%  which is 0.00125

n will be 5 years x 4 quarters = 20 periods

Fv= $1000 x (1 +0.00125)^20

Fv =$1000 x(1.00125)^20

Fv= $1000 x 1.025299

Fv = $1,025.299

4 0
3 years ago
Determine the type of credit that involves a set limit based on what a consumer pays up front.
Lilit [14]

Installment credit is a type of credit that has a fixed number of payments, in contrast to revolving credit.

<span>Examples of which are:
</span><span>
Land loan
Home construction loan
<span>Home mortgage
</span><span>Some equity loans
</span>Home improvement loan
Automobile loan
<span>Boat loans or RV loans specialty finance
</span>Student loan
Personal loan
<span>Vacation loan

I hope my answer has come to your help. Thank you for posting your question here in Brainly.
</span></span>
4 0
2 years ago
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