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Temka [501]
3 years ago
5

Eastwood Post Pavillion received a $650 check from a customer for the balance due. The transaction was erroneously recorded as a

debit to Cash $560 and a credit to Service Revenue $560. The correcting entry is ______.
Business
1 answer:
s344n2d4d5 [400]3 years ago
3 0

Explanation:

The correct journal entry is as follows:

Cash Dr $90

Service revenue Dr $560

         To Account receivable $650

(Being the cash received is recorded)

Basically we debited the cash for $90 and service revenue for $560 and credited the account receivable for $650 so that the correct posting could be done

The cash difference is

= $650 - $560

= $90

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A(n) _____ is a measure, such as price or quantity, that can take on different values at different times.
Nat2105 [25]

Answer:

Variable

Explanation:

Given that, Variable is defined as a mathematical term that is often time used in business operation as well, to describe a form of value or cost that is not stable or permanent, which can change over a given period of time.

Hence, in this situation, the correct answer is " a VARIABLE is a measure, such as a price or quantity, that can take on different values at different times.

3 0
3 years ago
The company allocates manufacturing overhead using a single plantwide rate with machine hours as the allocation base. Estimated
vovikov84 [41]

Answer:

B) $1.40 per machine hour

Explanation:

Total machine hours = 29,000 + 48,000 = 77,000

Predetermined overhead allocation rate = Total estimated overhead costs / Total estimated quantity of the overhead allocation base

= $108,000 / 77,000 machine hours

= $1.40 per machine hour

6 0
3 years ago
A customer is complaining to you about an issue they are having with your company’s product. You know from experience that this
Marat540 [252]

Answer:

A. Let the customer finish complaining, then explain to her why she is having the issue.

Explanation:

In dealing with customers it is important that conflicts is on de-escalation in such a way that the customer is satisfied after the transaction and does not feel bad about the incident.

In the given scenario the customer caused the issue but it is important to listen to their complaint and get clarity on the situation.

Cutting the customer short because a similar situation occurred in the past may not reveal all issues. So it is better to hear the customer's full complaint.

Then we need to explain to the customer why the customer is having the issue without emphasising they are wrong.

This will reduce bad feelings on the part of the customer

8 0
3 years ago
Because the auditors of XYX Company accepted a client firm’s questionable financial statements when the infractions have occurre
OverLord2011 [107]

Answer: setting ill-conceived goals

Explanation:

3 0
3 years ago
During recessionary periods, bonds that were issued many years ago have a higher coupon rate than currently issued bonds. Theref
Mandarinka [93]

Answer:

YTM = 6.818%

Explanation:

YTM = \frac{C + \frac{F-P}{n }}{\frac{F+P}{2}}

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F= Face Value= 50000

P= purchase value=60000

n= number of payment= 5 years at 2 payment a year = 10

YTM = \frac{4750 + \frac{50,000-60,000}{10 }}{\frac{50,000+60,000}{2}}

Important: it is better to calculate the YTM using a financial calculator, this is an approximation

6 0
3 years ago
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