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3 years ago

Quuizlet the two common methods of processing credit and debit card transactions are

1 answer:

4 0

There are two main ways to process debit and credit card transactions. The first is to swipe the card on a machine that reads your information based on your strip. The strip will automatically take money from your debit account with a PIN authorizing the transaction. If you swipe a credit card, it will ask for a signature. Another way a machine can read your information is by use of a chip. The chip is embedded in the card and it reads and authorizes your information once its slid in and accepted.

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Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 785,000 candles for January. Wax is required to pr

icang [17]

Answer:

$604,035

Explanation:

The computation of the direct materials purchases budget is shown below:-

Total Wax Required 490,625 Pounds

(785,000 × 10 ÷ 16)

Add: Ending Inventory 125,00 Pounds

Total Units Available 503125 Pounds

Less: Beginning Inventory 16,000 Pounds

Total Pounds to be Purchased 487,125 Pounds

Unit Price $1.24 per Pounds

Total Direct Materials Purchased $604,035

(487,125 × $1.24)

8 0

3 years ago

Assume these events happened to Bakko, Inc. in Year 4. Bakko uses December 31 for the annual reporting period. At the beginning

aleksandr82 [10.1K]

Answer:

1. Gain of $12,000 on sale of some equipment from one of the gas stations that Bakko still owns at 12/31/Year 4. - Part of income from continuing operations.

The gas station is still owned by Bakko so the gain received will form part of income from continuing operation.

2. Bakko receives $5,000 for a fuel contract that will begin in Year 5. - Not part of net income for Year 4

As per the Revenue Recognition principle of Accounting, revenue is only to be recorded when earned which means that this revenue will be in the Year 5 income.

3. Bakko has $100,000 gain on the sale of the gas stations on May 1, Year 4. - As a discontinued operation.

The gas station has been sold and so is a discontinued operation.

4. Operating results through April 30,Year 4 for the gas stations that were sold. - As a discontinued operation.

The gas station has been sold and so is a discontinued operation. Will be reported in the Income statement as such.

5. Bakko has a $20,000 loss on the sale of the donut stores on October 1. - As a discontinued operation.

The donut store was sold and is no longer a part of Bakko so is a discontinued operation.

6 0

3 years ago

All else equal, a firm would prefer to have a higher gross margin. a. True b. False

Viktor [21]

I Think The Answer Is True.

8 0

3 years ago

Why dont you guys use Question Cove or another service. Why do you like brainly so much?

Slav-nsk [51]

because I think people answered their questions really fast even though they don't sometimes

6 0

3 years ago

Read 2 more answers

Vasudevan Inc. recently reported operating income of $2.30 million, depreciation of $1.20 million, and had a tax rate of 25%. Th

Korvikt [17]

Answer:

free cash flow is 2.352 million

Explanation:

Given data:

operating income is $2.30 million

depreciation $1.20

tax rate is 25%

free cash flow is calculated by using below formula

free cash flow = operating income ( 1- Tax) + depreciation - fixed working capital

= 2.75( 1 - 0.25) + 1.20 - 0.6

= 2.352 million

free cash flow is 2.352 million

4 0

3 years ago