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Ratling [72]
3 years ago
7

Jervis sells $3,900 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 3% fa

ctoring fee. What entry should Jervis make to record the transaction
Business
1 answer:
elixir [45]3 years ago
3 0

Answer:

Dr cash                           $3783

Dr factoring fee expense  $177

Cr accounts receivable               $3900

Explanation:

The cash proceeds from the factoring arrangement would be 97% of the value of the receivables since 3% is the factoring fees expenses to be incurred.

Cash proceeds=$3900*97%=$ 3,783.00  

Factoring fees expense=$3,900.00-$3,783.00=$117

Cash account and factoring fees expense would be debited with $3783 and $117 respectively, while accounts receivable is credited with $3900

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Define employee engagement and job satisfaction with respect to Theory of Motives and Needs.
Aneli [31]

<u>Explanation</u>:

Note that, the human resource department role includes managing employees engagement because it is vital for achievement of the organization goals.

For instance, the theory of motives and needs believes that managers must ensure that all employees are fully engaged or passionate about their jobs.

<u>This theory therefore asserts that employee motivations is increased if they are involved and interested in the tasks that inspires them.</u>

7 0
3 years ago
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Which best describes why a company issues stocks? to increase the company’s value to ensure profits to increase dividends to rai
Orlov [11]

Answer:

to raise capita

Explanation:

A stock or shares represents the smallest unit of ownership in a company.  Ownership of a company is acquired by buying the company's stock in the stock market,  or having contributed capital during its formation. The shareholder, therefore, gives out money to a company in exchange for shares.

A company issues shares to raise capital.  As investors purchase shares, the company gets money to expand its business. The investors become shareholders and are entitled to share in the profits of the business.

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3 years ago
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The following data has been provided for a compan most recent year of operations:
Sidana [21]

Answer:

It is $9,450 (A)

Explanation:

Return on Investment = 40% * $ 45,000

                                     =$18,000

Minimum Required Return = 19% *$ 45,000

                                            = $8,550

Hence, Residual Income = $18,000-$8,550

                                         =$9,450

Minimum required return represents the amount of returns that must be generated on investment to satisfy the expectations of providers of funds.

Residual income is what is left after dividends and interest have been paid to the various investors which can be retained for future investment.

4 0
3 years ago
What are the benefits of mechanical dissection?
Romashka [77]

1. Memorable
Dissection is an interesting approach to take when teaching science. For one, it creates a long-lasting impression on the students’ minds. Most people can remember what they did in the lab yesterday easily than some theory they have just gone through. So it is easy to recall an activity that you have engaged in that is why dissecting in equally important as the theory aspect of the lesson.

2. Proper understanding
Another obvious reason why dissection is important is because it is a hands-on activity which provides a chance for students to carry out investigations aside from what they learn in class. They are able to test how truthful their theory is while comparing it to what they see while carrying out the dissection.

3. Tactile experience
There are rules on how dissection is carried out and these are among the many things that students are taught about before they begin any dissections. There are also certain tools which are needed for dissection and which tools differ from one creature to another. Armed with this information and proper guidance and practice, students are able to acquire proper dissection skills which will no doubt be useful in higher level science lab classes
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3 years ago
In a sales mix situation at any level of units sold net income will be higher if
ArbitrLikvidat [17]
In a sales mix condition at any level of units vended the net income will be higher if more higher contribution margin units are sold than lower contribution margin units. The sales mix is the comparative proportion in which a company vends its multiple goods. In addition, the contribution margin ratio is contribution margin separated by sales.
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