Answer:
.D)Debit Cash $627.20; debit Credit Card Expense $12.80 and credit Sales $640
Explanation:
Sales = $640
To recognize this,
Debit Cash $640
Credit Sales $640
Being entries to recognize sale and cash received.
On this sale, the bank deducts 2% of the sales value
Amount deducted = 2% × $640
= $12.80
To recognize this,
Debit Credit Card Expense $12.80
Credit Cash $12.80
Being entries to recognize credit card expense incurred on sale.
As such, the net effect of the two entries
Debit Cash $627.20
Debit Credit Card Expense $12.80
Credit Sales $640
The right option is D)Debit Cash $627.20; debit Credit Card Expense $12.80 and credit Sales $640.
Answer:
Option (C) $190,000
Explanation:
Data provided in the question:
Amount of the goods sold in exchange = $200,000
Note's market rate of interest at the time of sale = 12%
Discount note on September 1, 2005 = 10%
Now,
since the note is non-interest bearing.
As of September 1, 2005, 2 months have elapsed since the original issuance of the note on On July 1, 2005
Thus,
Only 6 months are remaining of the 8 month term.
Therefore,
Discount = $200,000 × 10% × 0.5 [ as 6 months = 0.5 year]
= $10,000
Therefore,
Proceeds from the discounting = $200,000 - $10,000
= $190,000.
hence,
Option (C) $190,000
Answer: project
Hope that helps! Have a good day :)
Answer:
d. $5,000
Explanation:
Patnode's information is missing, so I looked it up. I found the balance sheet for 2014 and 2015. Hope that it is the same question:
total depreciation expense for 2015 = change in accumulated depreciation (2015 - 2014) + change in accumulated amortization (2015 - 2014) = ($3,000 - $0) + ($3,000 - $1,000) = $3,000 + $2,000 = $5,000
The given statement " One of the steps the U.S. Sentencing Commission delineated companies must implement to demonstrate due diligence is that a firm must develop and disseminate a code of conduct that communicates required standards and identifies key risk areas for the organization " is TRUE
Explanation:
The US Sentencing Commission is an official disciplinary body of the United States federal government.
The commission outlined 7 measures to show due diligence for businesses:
1. The company shall establish and disseminate a code of ethics outlining the necessary requirements and defining key danger areas for the organization.
2. Oversight of the system is provided by top-ranking agencies considered to conform with business regulatory and ethical requirements (such as an ethics director, vice president of operations, general advocates and so forth).
3. Nobody should be positioned in a position of authority with a proven potential for wrongdoing.
4. There will also be a training program (Ethics Training) for disseminating principles and procedures.