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Mazyrski [523]
3 years ago
7

Molly Mocha employs one college student every summer in her coffee shop. The student works the five weekdays and is paid on the

following Monday. (For example, a student who works Monday through Friday, June 1 through June 5, is paid for that work on Monday, June 8.) The coffee shop adjusts its books monthly, if needed, to show salaries earned but unpaid at month-end. The student works the last week of July, which is Monday, July 28, through Friday, August 1. If the student earns $120 per day, what adjusting entry must the coffee shop make on July 31 to correctly record accrued salaries expense for July
Business
1 answer:
mixer [17]3 years ago
6 0

Answer:

The adjusting entry on 31st July will be;

Salaries Expense (Dr.) $480

Salaries Payable  (Cr.) $480

Explanation:

Molly Mocha hires one student who works for 5 days and is paid on Monday. The student who has started working on 28th July Monday then he has worked till 1st August Friday. The adjusting entry need to be made on Thursday 31st July. The student is paid $120 per day so for 4 days of working it will be $120 * 4 days till 31st July. Since Molly Mocha pays salaries on following Monday it should record salaries expense as debit and salaries payable as credit in its accounts.

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A​ 20% increase in sales causes EPS to rise from​ $4.00 to​$6.50. Assuming the firm has no​ debt, what is its degree of operatin
Anna [14]

Answer:

A

Explanation:

DOL =  Percentage change in EBIT / percentage change in sales

EPS = {(EBIT - Interest) × (1 - T) } / Shares

The firm has no debt, so interest would be zero

EPS = EBIT × (1 - T) / Shares.

Tax rate and number of outstanding shares remain unchanged.

Percentage Change in EPS = EBIT.

Percentage Change in EPS = (6.5 / 4) - 1 = 0.625 = 62.5%

EBIT = 62.5%

Percentage change in sales= 20%

DOL =  62.5% / 20% =  3.13

5 0
3 years ago
Which customer is an internal customer of Eureka Computer Solutions?
alexandr1967 [171]

Nowzer, a sales distributor for Eureka Computer Solutions is an internal customer of Eureka Computer Solutions.

<h3>Who is an internal customer?</h3>

For a company, an internal customer is the one who has direct relationship with the company hence dependent on them.

Hence, Nowzer, a sales distributor for Eureka Computer Solutions is an internal customer of Eureka Computer Solutions.

Learn more about internal customers here : brainly.com/question/2040044

#SPJ1

6 0
2 years ago
An annual reporting period consisting of any twelve consecutive months is known as:________.1. Calendar year2. Natural business
11111nata11111 [884]

Answer:

4. Fiscal year

Explanation:

Reporting period refers to the period or time covered by a set of financial statements. It is the accounting period in which a given financial report will be covered. It may either be monthly, quarterly or yearly depending on organization's choice.

Now, fiscal year is an accounting period or reporting period that consist of 12 month used for accounting purposes. It is a yearly reporting period made up of 12 consecutive months. It may or may not correspond to the normal calendar year depending on the organization's choice or decision.

3 0
3 years ago
Over time, members of the supply chain often formalize their relationship by entering into contracts that dictate various terms,
umka2103 [35]

Answer:

contractual vertical marketing system

Explanation:

In the supply chain management system there is this Contractual Vertical Marketing System under which there is this vertical relationship of marketing in between two positions of the supply chain.

Here also the Walmart is the one which shall supply goods at the last to consumers and that the company P&G shall supply goods to Walmart. This is the chain. Now this is a vertical chain, as from producer to seller to consumer.

And since it is a marketing chain with contractual clauses which include all the penalties also.

8 0
3 years ago
Read 2 more answers
If aggregate planned expenditures in the economy increase by $100 million, then real GDP will _____ $100 million.
nirvana33 [79]

Answer:

Real GDP will rise by $100 million

Explanation:

Aggregate Demand [AD] is total amount of goods & services, all sectors of an economy are planning to buy . So AD = Aggregate Planned Expenditure [APE]

Aggregate Supply [AS] is total amount of goods & services, all sellers are planning to sell. As total output value of goods & services produced is distributed among factors of production, AS = National Income [NY] = GDP

At equilibrium : AD or APE =  AS or NY or GDP

If AD or APE increases by $100 million :

AD or APE  > AS or Aggregate Planned Production or GDP . This implies willingess to buy > willingness to produce. So, inventory levels will fall below desired level. To mantain inventory level, production [AS] & income level [GDP] will rise till it becomes equal to risen AD or APE

So, GDP will also rise by $100 million

6 0
3 years ago
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