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Vaselesa [24]
3 years ago
15

Cash sales rung up by cashiers totaled $120,500. Cash in the drawer was counted and found to be $126,000. The journal entry to r

ecord the day's sales would include a:
Business
2 answers:
Mama L [17]3 years ago
6 0

Answer:

credit to Cash Overage for $5,500.

Explanation:

When sales are made and cash is received, the normal entries to be passed are a debit to cash and a corresponding credit to sales revenue to recognise the revenue earned from sales.

However when there is an overage in cash the excess funds are moved to an overage account pending resolution of the discrepancy. When the error is identified reversal entries are passed to assign finds to correct source. If however the error cannot be detected the amount is considered an income.

The overage in this case is 126,000- 120,500= $5,500

So the entry to be passed is

Credit Cash Overage $5,500

Note Cash Overage is an income account.

blagie [28]3 years ago
3 0

Answer:

Credit to Cash Overage for $5,500

Explanation:

Revenue total is $120,500 so the revenue will be recorded by this amount and the cash is $126,000 so it will also recorded by the same amount. An additional credit entry will be placed to reflect the effect of this transaction.

The journal entry to record the day's sales would include

Debit     Cash                  $126,000

Credit    Cash Overage  $5,500

Credit    Sales                 $120,500

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marta [7]

Answer:

A. $ 450 comma 000

Explanation:

In order to compute the fixed cost per month first we have to determine the variable cost per unit which is shown below.

Variable cost per hour = (High total  cost - low total cost) ÷ (High production volume - low production volume)

= ($710,000 - $550,000) ÷ (13,000 units - 5,000 units )

= $160,000 ÷ 8,000 units

= $20

Now the fixed cost equal to

= High total cost - (High production volume × Variable cost per unit)

= $710,000 - (13,000 units × $20)

= $710,000 - $260,000

= $450,000

We simply applied the above formula

6 0
3 years ago
The aggregate demand curve slopes downward indicating that
Likurg_2 [28]

Answer: Diminishing marginal utility.

Explanation: The demand curve tends to slopes downward because of diminishing marginal utility and it also slopes downwards because of the substitution and income effects.

4 0
2 years ago
Your client has a documentary film coming out next month. They have three separate 30-second promo videos and want to identify w
dybincka [34]

To prioritize showing that ad, the type of video creative optimization to use would be dynamic creative optimization

<h3>What is Video Creative Optimization?</h3>

This refers to the use of visual effects to make a media file or video come out better by making some changes to it.

Hence, we can see that based on the fact that there are different 30-second videos and get feedback from customers, the use of dynamic creative optimization would be encouraged so that each ad would be prioritized.

Read more about video optimization here:

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#SPJ1

6 0
1 year ago
Five hundred units of good x are currently bought and sold. The marginal buyer is willing to pay $40 for the 500th unit, and the
dimaraw [331]

Answer:

D : All options are correct

Explanation:

- The marginal buyer is the essence of demand curve while marginal seller is essence of supply curve.

- @ Q = 500 units,    Selling Price is set at SP = $35

- @ Q = 500 units,    Buying Price is set at BP = $40

- Since, SP ≠ BP our equilibrium price would be $ 37.5 assuming the price elasticity of demand and supply are equal. In any case the equilibrium price would lie in between [ 35 , 40 ] such that to prevent a shortage of units in near future.

- Moreover, if the seller decides to sell at price $35 then he must sell goods greater than 500 units to reach the equilibrium profits. However, it could also lead to excess of units or surplus.

- We see that from selling the goods at SP = $35 while the buyer is willing to pay BP = $40 for 500 goods, the seller would be under-profiting and would be earning $5*500 = $2,500 less than he would at equilibrium price of $40 and selling units greater than 500. Hence, 500 goods is not an efficient quantity of goods.

6 0
3 years ago
Marketing is a subset of advertising.<br><br> True<br> False
andreev551 [17]

Answer:

False

Explanation:

Marketing is not a subset of advertising. In fact it is the opposite, advertising is the subset of marketing.

Advertising is mostly focused on acquiring customers and promoting sales. Generally, advertising is based on formulating campaigns to promote the products and increasing sales. These promotions are carefully planned out and well designed so they reach a target audience with the help of media such as radio, newspaper, television and magazines etc.

4 0
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