Career prep b final exam / post test

On May 10, Keene Company sold merchandise for $4,000 and accepted the customer's Best Business Bank MasterCard. At the end of th

natta225 [31]

Answer:

Cash $3,848

Service Charge Expense ($4,000 ×3.8%) $152

To Sales Revenue $4,000

(Being the record of the sale of merchandise is recorded)

Explanation:

The journal entry is shown below:

Cash $3,848

Service Charge Expense ($4,000 ×3.8%) $152

To Sales Revenue $4,000

(Being the record of the sale of merchandise is recorded)

Since sale is made so we debited the cash it increased the assets plus there is service charge expense so the same is also debited as it increased the expenses and at the same time the merchandise is sold so it would be credited as it increased the revenue

8 0

3 years ago

It has been estimated that there are 107 billion pieces of mail per year. if the postage rates are raised 3¢, how much extra rev

Virty [35]

6783$ a month I think that's the answer I hope

7 0

3 years ago

Azule Co. manufactures in two sequential processes, cutting and binding. The two departments report the information below for a

lys-0071 [83]

Answer:

Cutting $8,305

Binding $365

Explanation:

Calculation to Determine the ending balances in the Work in Process Inventory accounts of each department.

Cutting Ending work in process =$ 1,145+ 3,750+$ 9,240+$14,700-$20,530

Cutting Ending work in process =$8,305

Therefore the ending balances in the Work in Process Inventory accounts for cutting department will be $8,305

Binding Ending work in process= $2,200+$2,646+$3,450+$7,100+$18,575+$20,530-$49,000

Binding Ending work in process= $365

Therefore Therefore the ending balances in the Work in Process Inventory accounts for binding department will be $365

5 0

2 years ago

It is important to use real rather than nominal gdp figures when making comparisons of output across time periods because the re

melamori03 [73]

Answer: TRUE

Explanation: Gross Domestic Product ( GDP) can be described as the market value of all goods and services produced in a country within a particular time period which is usually a year.

The equation for finding GDP is given as -

GDP = Consumption + Investment + Government Spending + ( Exports - Imports)

Nominal GDP can be described as the market value of all goods and services produced in a country within a particular time period using current market prices.

Real GDP can be described as the market value of all goods and services produced in a country within a particular time period using base year prices. Using base year prices to calculate real GDP adjusts for inflation.

4 0

3 years ago

If a johnny rocket's burgers has 11,500 burgers in inventory on hand and they sell 1,000 units a day, how many days of inventory

riadik2000 [5.3K]

11.5 days, assuming none of the burgers expire before then.

8 0

3 years ago