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Kryger [21]
2 years ago
6

Thomas co. sold $1,000 worth of merchandise on a bank credit card less a 3ee. the entry to record the sales transaction would in

clude a debit to cash in the amount of?
Business
1 answer:
DedPeter [7]2 years ago
4 0

The amount of the sales transaction would include a debit to cash is $970.

<h3>How is the percentage determined?</h3>
  • The percentage is a value that has been multiplied by 100. In this manner, expressing 25% of a value is equivalent to expressing 25% out of 100, or 25% divided by 100.
  • Simply multiply the total by the percentage to determine the precise number of absentees from the event.

So: 160 x 25% = 160 (25/100) = 160 x 0.25 = 40

This is so that the cash sum received will be equal to the sales values multiplied by one less the credit card fee.

1000 x (1-0,03)

1000 x 0,97 = 970$

So, the amount of debt to cash that would entry to the record sales would be 970$.

To learn more about Finance sum, refer

to brainly.com/question/26106218

#SPJ4

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A movie production studio incurred the following costs related to its current movie: Purchased office supplies on account: $36,0
PilotLPTM [1.2K]

Answer:

S/n   General Journal                   Debit        Credit

a.      Office supplies                  $36,000

              Account payable                              $36,000

b.      Work in process                $22,509  

              Office supplies                                 $22,509

c.      Manufacturing overhead   $7,550  

              Office supplies                                  $7,550

d.     Work in process                  $32,503,220

               Wages payable                                $32,503,220

e.     Manufacturing overhead    $574,327

               Wages payable                                $574,327

f.      Manufacturing overhead     $957,320

                Utilities payable                               $957,320

g.      Work in process                  $3,250,322

                 Manufacturing overhead                $3,250,322

4 0
3 years ago
Boeing has often cut its prices drastically to try to maintain its 60 percent of sales of commercial aircraft as it competes wit
bija089 [108]
A market share objective is the reason they encountered losses. Market share often pursues by companies when industry sales are relatively flat or declining. Although increased market share is a primary goal of some firms, others see it as a means to other ends: increasing sales and profits.



5 0
3 years ago
Consider the following financial statement information for the Hop Corporation:
EastWind [94]

Answer: Operating cycle = 84.70 days

Cash cycle = 41 days

Explanation:

Beginning inventory = $11,100

Ending Inventory = $12,100

Average inventory = ($11100 + $12100)/2 = 11600

Average Accounts receivable = (6,100 + 6,400)/2 = 6250

Average Accounts payable = (8,300 + 8,700)/2 = 8500

Day sales in inventory = Average inventory × 365 / Cost of goods sold

= 11600 × 365 / 71000 = 59.63 days

Average collection period = Average receivable × 365 / Credit sales

= 6250 × 365 /91000 = 25.07 days

Average payment period = 43.70 days

Therefore, operating cycle will be:

= Day sales in inventory + Average collection period

= 59.63 days + 25.07 days

= 84.70 days

Cash cycle = Operating cycle - Average payment period

= 84.70 - 43.70

= 41 days

7 0
3 years ago
The following stockholders' equity accounts arranged alphabetically are in the ledger of Wildhorse Co. at December 31, 2020.
Andrei [34K]

Answer:

Wildhorse Co.

The stockholders' equity section of the Balance Sheet at December 31, 2020

Preferred Stock (8%, $101 par, noncumulative)                      414,100

Paid-in Capital in Excess of Par-Preferred Stock                    48,700

Common Stock ($12 stated value)                                      1,776,000

Paid-in Capital in Excess of Stated Value-Common Stock 659,000

Treasury Stock-Common (7,900 shares)                             (96,000)

Retained Earnings                                                                 782,000

Total stockholders' equity                                               $3,583,800

Explanation:

a) Data:

Preferred Stock (8%, $101 par, noncumulative)                      414,100

Paid-in Capital in Excess of Par-Preferred Stock                    48,700

Common Stock ($12 stated value)                                      1,776,000

Paid-in Capital in Excess of Stated Value-Common Stock 659,000

Treasury Stock-Common (7,900 shares)                             (96,000)

Retained Earnings                                                                 782,000

Total stockholders' equity                                               $3,583,800

b) The major components of the stockholders' equity include the stock accounts, paid-in capital, retained earnings, and the treasury stock.  The stockholders' equity represents the difference between the assets and the liabilities of Wildhorse Co.  The equity section shows the capital contributions of Wildhorse stockholders and the accumulated retained profits.

5 0
3 years ago
Although test marketing costs can be high, they are often small when compared with ________.
Mkey [24]

Although test marketing costs can be high, they are often small when compared with the costs of a major mistake.

<h3>What is meant by test marketing?</h3>

Before a larger release, a product or marketing campaign is made accessible on a restricted basis to test markets with the intention of examining consumer reaction. It's crucial to keep in mind that customers who have been exposed to the product or campaign can unknowingly be a part of a test group.

Standard test markets, controlled test markets, and simulated test markets are the three different types of test markets. The main users of test markets are marketers of consumer packaged goods. Products supplied in packets that people use practically daily are referred to as consumer packaged goods (CPG).

Even while test marketing expenses can be considerable, they are frequently insignificant when weighed against the price of a significant error.

To learn more about test marketing refers to:

brainly.com/question/14683245

#SPJ4

5 0
2 years ago
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