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3 years ago

A customer paying $100 for a service with a credit card would be a debit to which account?

Business

2 answers:

balandron [24]3 years ago

6 0

Answer:

Answer is Accounts receivable.

Explanation:

A customer paying $100 for a service with a credit card will be a debit to Accounts receivable.

Fed [463]3 years ago

5 0

Answer:

Accounts receivable

Explanation:

The $100 is a debit from the credit card of the customer and would be debited to accounts receivable.

Account receivable is basically the money owed to a seller by the buyer and they are created by the company when the credit purchase is made.

The company will receive their $100 owed to them from accounts receivable because it shows on the balance sheet the amount owed the company and can be retrieved on short term basis.

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Prepare income statements based on variable costing for each of the 2 years. 2.Prepare income statements based on absorption cos

enot [183]

Answer:

The question is incomplete, it is missing the accounts and numbers, so I looked for a similar question:

The Rehe Comany sells its razors at $3 per unit. The company uses a first-in, first-out actual costing system. A fixed manufacturing cost rate is computed at the end of each year by dividing the actual fixed manufacturing costs by the actual production units. The following data are related to its first two years of operation:

2011 2012

Sales 1000 units 1200 units

Costs:

Variable manufacturing 700 500

Fixed manufacturing 700 700

Variable operating (marketing) 1000 1200

Fixed operating (marketing) 400 400

2011 2012

Sales 1000 units 1200 units

Production 1400 1000

Costs:

Variable manufacturing $700 $500

per unit $0.50

Fixed manufacturing $700 $700

Variable operating (marketing) $1000 $1200

Fixed operating (marketing) $400 $400

cogs under absorption costing 2011 = ($1,400 / 1,400) x 1,000 = $1,000

cogs under absorption costing 2012 = $400 + ($1,200 / 1,000) x 800 = $1,360

1. INCOME STATEMENTS

VARIABLE COSTING

2011 2012

Total sales revenue: $3,000 $3,600

Opening inventory: ($0) ($200)

Variable manufacturing: ($700) ($500)

Ending inventory: $200 $100

Gross contribution margin: $2,500 $3,000

Variable operating: ($1,000) ($1,200)

Contribution margin: $1,500 $1,800

Fixed manufacturing: ($700) ($700)

Fixed operating: ($400) ($400)

Net operating income: $400 $700

2. INCOME STATEMENTS

ABSORPTION COSTING

2011 2012

Total sales revenue: $3,000 $3,600

COGS: ($1,000) ($1,360)

Gross margin: $2,000 $2,240

Operating costs: ($1,400) ($1,600)

Net operating income: $600 $640

3. Under variable costing, closing inventory = 400 units x $0.50 (variable production costs per unit) = $200.

Under absorption costing, closing inventory = 400 units x $1 (production cost per unit) = $400

Since closing inventory is $200 higher under absorption costing, then net operating income during 2011 increases by $200.

4. a) Variable costing is more likely to result in inventory buildups. Since variable costing determines the value of closing inventory only using variable manufacturing costs, their value is much lower. E.g. in this case the value of closing inventory 2011 under variable costing is $200, while under absorption costing it is $400. This means that less costs are transferred from one year to another.

b) Cost of goods sold must include all production costs (both variable and fixed). This way COGS costs cannot be over estimated during one year and under estimated the next.

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3 years ago

A friend offers you a Coke, a Dr. Pepper, or a 7-Up. You don't like Coke, so after some thought, you take the Dr. Pepper. What i

Leokris [45]

An opportunity cost is the value or benefit that must be given up to acquire or achieve something else. In this case whatever you choose (Coke, Dr.Pepper or 7-UP) everything would be free , at zero cost. This means that the opportunity cost in this case is zero, because the drink is free.

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3 years ago

The nation of Winstone's economic system closely approximates pure capitalism. While Winstone's economy is likely to generate a

Shkiper50 [21]

It seems to be at least that the answer should be true !

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4 years ago

Which of the following does not allow a company to exclude a short term obligation from current liabilities? Group of answer cho

Neporo4naja [7]

Answer: Actually refinance the obligation.

Management indicated that they are going to refinance the obligation.

Have a contractual right to defer settlement of the liability for at least one year after the balance sheet date.

The liability is contractually due more than one year after the balance sheet date.

Explanation:

A current liability is an obligation payable within a year. A short term liability can be excluded from current abilities if management indicates that they are going to refinance it and show that they are capable of doing so.

Also if the company has a contractual right to defer settlement of the liability for at least one year after the balance sheet date, the short term obligation can be excluded. The deferment means that it will be recognized in another period.

When the liability is contractually due more than one year after the balance sheet date, it stops being a current liability and becomes a non-current liability payable after a year.

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3 years ago

Say that you have invented a new snack food product and would like to market it to college students. What are some of the advert

Lera25 [3.4K]

Explanation:

The ideal would be to create an advertising message that would bring value and engagement to the target audience that you want to reach, which in this case are young university students. Use more modern and informal communication, elements of youth culture, such as music, films and series, which add value to advertising to attract the desired audience.

It would also be important that advertising communication be carried out in colleges, through advertising on student radio or as a sponsor of sports games.

If the product is well aimed at meeting the needs of university students and has a positive response, in the future it can grow and be consumed by other students and thus become a product of value for young people.

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3 years ago