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andre [41]
3 years ago
11

Z-Mart uses the perpetual inventory system and allows customers to use the Z-Mart store credit card in charging purchases. Z-Mar

t assesses a per-month interest fee for any unpaid balance on its store credit card at each month-end. Apr. 30 Z-Mart sold merchandise for $1,000 (that had cost $650) and accepted the customer’s Z-Mart store credit card. May 31 Z-Mart recorded $4 of interest earned from its store credit card as of this month-end. Prepare journal entries to record the above selected credit card transactions of Z-Mart.
Business
1 answer:
Nataly_w [17]3 years ago
7 0

Answer:

Following are the journal entries

Explanation:

Z-mart uses perpetual inventory system. To enter the selected credit card transactions, the journal entries are;

No Date General Journal       Debit                    Credit

1 Apr 30 Accounts receivable 1000  

                  Sales                                        1000

   

2 Apr 30     Cost of goods sold    650  

              Merchandise inventory                 650

   

3 May 31       Accounts receivable 4  

                Interest revenue                           4

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Summarize the steps of the cetr plan.
MAVERICK [17]

Answer:

The summary of the steps are as shown below;

Step 1: Reflection and Self-Evaluation.

Step 2: Exploration.

Step 3: Decision-Making and Goal Setting.

Step 4: Gaining Experience.

Step 5: Implementation.

Explanation:

A career is a professional endeavor undertaken during a specific period in one's life with the opportunity for growth. Picking a career is one of the most important things that most individuals do in life. It is therefor necessary to choose a career that is in line with one's interest, capabilities and passion. The following are steps to be followed in planning a career path, namely;

Step 1: Reflection and Self-Evaluation.

This is the first step involved in career planning. It involves the gathering of  information about oneself that will assist in choosing a career that matches one personality, interests, capabilities and goals.

Step 2: Exploration

Exploration involves looking into various alternative careers that matches one's personality. This step usually includes specific research on different careers to make a decision on a specific career that best fits one's requirements.

Step 3: Decision-Making and Goal Setting.

In this step, one decides on the specific career that they want to pursue. They also set achievable goals and timelines that the goals need to be achieved.

Step 4: Gaining Experience.

In this step, one looks for relevant experience in that career field. This usually involves the seeking of potential jobs that will ensure career growth that is in line with their goals.

Step 5: Implementation.

Once all the steps have been identified, one can now implement everything on the plan. This actually involves the putting the plan into action.

8 0
3 years ago
Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 85,000 shares of $5 par common stock. Dur
Olegator [25]

Answer:

$254,010

Explanation:

Calculation for the total shareholders' equity at the end of 2021

Issue of stock (10,700 × $5.90) $63,130

Issue of stock (20,600 × $8.80) $181,280

Net income $95,000

Less Dividends( $53,000)

Less Treasury stock (3,000 × $10.80) ($32,400)

Total shareholders' equity $254,010

Therefore the total shareholders' equity at the end of 2021 is $254,010

4 0
3 years ago
Robinson's has 24,000 shares of stock outstanding with a par value of $1 per share and a market price of $40 a share. The balanc
Zina [86]

Answer:

Find attached question with multiple choices

The third option ,72,000 shares, is the correct answer.

Explanation:

A stock split refers to redenomination of shares by increasing the number of shares and proportionately reducing the number par value per share.

A 3-1 share split means that one prior share now commands three shares while the price of one share is apportioned between the three shares

Robinson now 3/1*24,000 shares=72,000 shares

One previous share was $1 par value but the three new shares would $1/3=$0.33 per share instead of the previous $1 par value

Download xlsx
7 0
3 years ago
Which function of the management process requires a manager to establish goals and standards and to develop rules and procedures
Mama L [17]

Answer:

The planning function of management includes establishing goals and standards, developing rules and procedures, and developing plans and forecasting

Explanation:

Planning is the function of management that involves setting objectives and determining a course of action for achieving those objectives.

7 0
3 years ago
Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who have authority to make investments as neede
pantera1 [17]

Answer:

34.04%

Explanation:

Data provided :

Total sales of the Springfield Club = $ 920,000

The net operating income of the company = $ 34,040

The average operating assets of the company = $ 100,000

now,

The return on investment will be calculated as:

Return on investment (ROI)= \frac{\textup{Net operating income}}{\textup{Average operating assets}}

on substituting the values, we get

ROI = \frac{\$\ 34,040}{\$\ 100,000}

or

ROI = 34.04%

3 0
3 years ago
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