Answer:
1.
d. $19610 debit
Option D is the correct answer.
2.
Cash 1480 Debit
Service Revenue 1480 Credit
Explanation:
1.
The balance in the accounts receivable account can be calculated as follows,
Closing Balance = Opening balance + Credit sales - Cash Received from Accounts Receivable
Closing Balance of Accounts receivable at 31 December 2022 will be,
Closing Balance = 12770 + 34200 - 27360
Closing Balance = $19610 debit
The balance is debit because accounts receivables is an asset and the normal balance for asset account is debit.
2.
The entry to record the transaction is made in the answer part.
Given:
Blue Ace Autos Inc: cost of goods sold / revenue = 63.4%
Ferdova Autos Inc.: cost of goods sold / revenue = 54.2%
The percentage rate represents the part of the revenue that the cost of goods sold is a part of. This means that the revenue is 100%. The difference of the revenue and cost of good sold is the profit. The higher the percentage of the profit, the better.
Blue Ace Autos Inc: 100% - 63.4% = 36.6%
Ferdova Autos Inc: 100% - 54.2% = 45.8%
Ferdova Autos Inc. earn a higher profit (45.8% of revenue) than Blue Ace Autos Inc (36.6% of revenue).
Answer:
$1,443.75
Explanation:
The total cost for paving Sam's portion of the road = $35 per linear foot x 110 front feet = $3,850
If the city is going to pay 25% of the total cost, then it will pay $962.50, that would leave a total of $2,887.50 to be paid between Sam and his front neighbor. So Sam's share = $2,887.50 / 2 = $1,443.75
Oh? Don’t know what this is but thank you for the give points
