Which option best describes MacHack 6?

the accounts receivable account has a total debit postings of 1900 and credit postings of 1100.The balance of the account is a/a

hram777 [196]

Answer:

$800 Debit.

Step by step explanation:

We have been given that the accounts receivable account has a total debit postings of 1900 and credit postings of 1100.

Since debit postings are more than credit postings, so the balance of the account will be debit.

Let us find how many debit postings will be in the balance of account by subtracting 1100 from 1900.

$\text{The balance of the account}=1900-1100$

$\text{The balance of the account}=800$

Therefore, the balance of the account is a $800 debit.

8 0

3 years ago

Read 2 more answers

Harry owns a Cadillac and a Porsche. Ryan has always wanted a Porsche and knows Harry owns one. Harry decides to sell his Cadill

seropon [69]

Answer:

mutual mistake

Explanation:

A mutual mistake happens when all the parties involved in a contract (two or more) are mistaken or do not know the correct information about some specific material fact that is relevant to the contract. In this case, the contract can be rescinded because Harry believes that Ryan wants to buy his Cadillac, while Ryan believes Harry is selling his Porsche.

Since both of them are mistaken and do not know relevant material facts regarding the contract, the contract can be terminated.

6 0

3 years ago

recent monthly contribution format income statement: Sales$1,652,000 Variable expenses 628,880 Contribution margin 1,023,120 Fix

kati45 [8]

Answer:

Gatty Corporation

1. Segmented Income Statement for the most recent month

Division East Central West Total

Sales $422,000 $650,000 $580,000 $1,652,000

Variable expenses 227,880 169,000 232,000 628,880

Contribution margin $194,120 $481,000 $348,000 $1,023,120

Traceable fixed expenses $268,000 $320,000 $191,000 779,000

Common fixed expenses 346,000

Net operating income (loss) $(73,880) $161,000 $157,000 $(101,880)

2. Assuming these estimates are accurate and implemented, the company's net operating loss of $101,880 will decrease by $69,600 to $32,280.

Explanation:

a) Data and Calculations:

GATTY Corporation

Recent monthly contribution format income statement:

Sales $1,652,000

Variable expenses 628,880

Contribution margin 1,023,120

Fixed expenses 1,125,000

Net operating income (loss) $(101,880)

Segmented Income Statement for the most recent month

Division East Central West

Sales $422,000 $650,000 $580,000

Variable expenses as a percentage of sales 54% 26% 40%

Traceable fixed expenses $268,000 $320,000 $191,000

1. Segmented Income Statement for the most recent month

Division East Central West Total

Sales $422,000 $650,000 $580,000 $1,652,000

Variable expenses 227,880 169,000 232,000 628,880

Contribution margin $194,120 $481,000 $348,000 $1,023,120

Traceable fixed expenses $268,000 $320,000 $191,000 779,000

Common fixed expenses 346,000

Net operating income (loss) $(73,880) $161,000 $157,000 $(101,880)

Segmented Income Statement for the most recent month

Division East Central West Total

Sales $422,000 $650,000 $678,600 $1,750,600

Variable expenses 227,880 169,000 232,000 628,880

Contribution margin $194,120 $481,000 $446,600 $1,121,720

Traceable fixed expenses $268,000 $320,000 $220,000 808,000

Common fixed expenses 346,000

Net operating income (loss) $(73,880) $161,000 $226,600 $(32,280)

$(101,880)

$(32,280)

$69,600

4 0

3 years ago

Seth has a monthly income of $2,500. He has a $400 car payment and owes $225 on electronic equipment. What is the percentage of

WITCHER [35]

Answer:

25%

Explanation:

Given:

Seth has a monthly income of $2,500

He has a $400 car payment

He owes $225 on electronic equipment.

Question asked:

What is the percentage of Seth's income he is paying out in debt payments?

Solution:

He has a car payment = $400

He owes on electronic equipment = $225

<em>These two items are treated as debt for Seth as these items are used first then pay for it.</em>

Total debt = $400 + $225

Total debt = $625

Now, we will find percentage of Seth's income he is paying out in debt payments,

$Percentage =\frac{Total \ monthly \ debt}{Total \ monthly\ income}$

$=\frac{625}{2500} \times100\\\\ =\frac{62500}{2500} \\\\ =25$

Therefore, 25% of Seth's income he is paying out in debt payments.

4 0

3 years ago

Goldie is a manager in a company that manufactures wrought iron furniture. She assesses the performance of the company by determ

Rainbow [258]

Answer: Partial Productivity.

Explanation:

Goldie is making use of partial productivity to evaluate her company's performance. Partial Productivity is a method of calculating productivity by comparing the total output to a fraction of the input.

Partial Productivity =

output / single input

4 0

3 years ago