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andrey2020 [161]
3 years ago
10

The journal entry to record the purchase of equipment for a $140 cash down payment and a balance of $480 due in 30 days would in

clude Multiple Choice debit to Equipment for $620 and a credit to Cash for $620. a debit to Equipment for $140 and a credit to Cash for $140. a debit to Equipment for $620, a credit to Cash for $140, and a credit to Accounts Payable for $480. a debit to Equipment for $140 and a credit to Accounts Payable for $480.
Business
1 answer:
Tju [1.3M]3 years ago
7 0

Answer:

Option C. A debit to Equipment for $620, a credit to Cash for $140, and a credit to Accounts Payable for $480.

Explanation:

The reason is that the equipment has been acquired by the business which is worth $620 and this means that the equipment which is asset in nature must be increased by it fair value which is $620. The purchase of equipment requires the payment of $140 at the spot which means that the cash asset will be reduced by $140 and the remainder $480 will be paid in future which means that the current liabilities will be increased by $480.

Increase in Equipment (fixed asset) is debited by $620.

Decrease in Cash (asset) is credited with $140.

Increase in current liability is always credited and in this case must be credited with $480.

Journal entry in nutshell is as under:

Dr Equipment $620

Cr Cash Account          $140

Cr Accounts Payables  $480

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Piedmont Company segments its business into two regions - North and South.
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Answer:

1. Company-wide break-even point in dollar sales:

Break even point in dollar sales = (Traceable fixed expenses + Common fixed expenses) / Contribution margin %

Contribution margin % = Contribution margin / Sales revenue * 100%

= 240,000 / 800,000 * 100%

= 30%

Break even point in dollar sales :

=  (122,000 + 52,000) / 30%

= $580,000

2. Break-even point in dollar sales for the North region.

Break even point in dollar sales = Traceable fixed costs / Contribution margin %

Contribution margin % = Contribution margin / Sales revenue * 100%

= 120,000 / 600,000 * 100%

= 20%

Break even point in dollar sales :

= 61,000 / 20%

= $305,000

3. Break-even point in dollar sales for the South region.

Break even point in dollar sales = Traceable fixed costs / Contribution margin %

Contribution margin % = Contribution margin / Sales revenue * 100%

= 120,000 / 200,000 * 100%

= 60%

Break even point in dollar sales :

= 61,000 / 60%

= $101,666.67

5 0
2 years ago
_____ refers to an organization’s ability to ensure sufficient staffing levels to accomplish its work processes and successfully
IceJOKER [234]

Answer:

The explanation of this question is given below in the explanation section.

Explanation:

The correct answer to this fill in blank question is  workforce capability.

<u>The term workforce capability</u> refers to an organization’s ability to ensure sufficient staffing levels to accomplish its work processes and successfully deliver products and services to customers, including the ability to meet seasonal and varying demands.

Workforce Capability:

The term “workforce capability” refers to your organization’s ability to accomplish its work processes (might include all process to produce the product or service) through the knowledge (accumulated intellectual resources of organization),  abilities, skills, and competencies of its people.

Capability may include the ability to build and sustain relationships with customers; to develop new products and work processes; o innovate and transition to new technologies; and to meet changing business, market, and regulatory demands.

8 0
3 years ago
Keisha Tombert, the bookkeeper for Vaughn Consulting, a political consulting firm, has recently completed a managerial accountin
Serjik [45]

Answer:

$23,290.00

Explanation:

Preparation forn a schedule of cost of contract services performed

Supplies used on consulting contracts 1,940.00

Salaries of professionals working on contract 16,400.00

Service Overhead:

Janitorial services for professional offices 800.00

Insurance on contract operations 880.00

Utilities for contract operations 2,360.00

Depreciation on equipment used for contract work 910.00

Total service overhead 4,950.00

(800.00+880.00+2,360.00+910.00)

Cost of Contract Services Provided 23,290.00

(1,940.00+16,400.00+4,950.00)

Administrative expenses:

Supplies used in administrative offices 1,700.00

Depreciation on administrative office equipment 1,450.00

Salaries of administrative office personnel 8,690.00

Janitorial services for administrative offices 580.00

Insurance on administrative operations 930.00

Utilities for administrative offices 1,930.00

TOTAL 15,280

Therefore the schedule of cost of contract services performed will be 23,290.00

4 0
3 years ago
After a dinner at Rosario’s Italian Eatery, Stephanie believes that she was overcharged and shoves Thom, the waiter. Thom sues S
Afina-wow [57]
<span>Stephanie is indeed liable, as she made first contact with an intent of violence. Thom did not respond physically, and therefor retains his right to sue Stephanie for any damages made to him, physically or emotionally.</span>
8 0
3 years ago
Creating a chart using a spreadsheet Chart Wizard involves four steps. Which is the first step?
ycow [4]
Making a line for ur chart i'm guessing
8 0
2 years ago
Read 2 more answers
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