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gayaneshka [121]
3 years ago
13

The bank statement for Tetra Company contained the following items: a bank service charge of $10; a credit memo for interest ear

ned, $15; and a $50 NSF check from a customer. The company had outstanding checks of $100 and a deposit in transit of $300. The entry to record the customer's NSF check will:_____.
a. increase the Accounts Receivable balance.
b. decrease the Cash account.
c. decrease equity.
d. increase the Accounts Receivable balance and decrease the Cash account balance.
Business
1 answer:
kvv77 [185]3 years ago
8 0

Answer:

Option D is the correct answer.

d. increase the Accounts Receivable balance and decrease the Cash account balance.

Explanation:

A NSF check or a Non Sufficient Fund check is when a check is received from the customer for the amount owed by the customer and is recorded as bank debit and accounts receivable credit in the business's books but due to less balance in the customer's account, the payment is not received  by the business and the check needs to be returned to the customer and the entry needs to be reversed by the business.

The result of recording the NSF will be to increase the accounts receivables balance and decrease the cash balance because the original entry when the check was received was to reduce the accounts receivable balance and to increase the cash balance.

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Terry traveled to a neighboring state to investigate the purchase of two hardware stores. His expenses included travel, legal, a
malfutka [58]

Answer: See explanation

Explanation:

a. Terry was in the hardware store business and did not acquire the two hardware stores.

The amount that Terry will deduct in 2020 will be $52000 which is the deduction for all expenses.

b. Terry was in the hardware store business and acquired the two hardware stores and began operating them on October 1, 2020.

In this case, he'll also deduct $52000 which is the deduction for all expenses.

c. Terry did not acquire the two hardware stores and was not in the hardware store business.

None of his expenses will be deducted. The amount it be deducted is 0.

5 0
3 years ago
Consider the market demand for peanut butter.Complete the following table by indicating whether an event will cause a movement a
EleoNora [17]

Answer:

A change in the expectations of consumers about prices - a shift of the demand curve for peanut butter

A decrease in the price of peanut butter - a movement along the demand curve for peanut butter

A decrease in the number of consumers - a shift of the demand curve for peanut butter

Explanation:

Only a change in price of a product would lead to a movement along the demand curve for that product.

A decrease in the price of peanut butter would increase the quantity demanded for butter. This would lead to a movement down the demand curve.

A change in the expectations of consumers about prices can shift demand curve either to the left or right.

A decrease in the number of consumers would shift the demand curve to the left.

I hope my answer helps you

8 0
3 years ago
Which of the following is true of F a c e b o o k advertisements?
morpeh [17]
They’re affordable and highly targeted.
8 0
3 years ago
Which program provides lump-sum compensation and health benefits for eligible Department of Energy nuclear weapons workers injur
pickupchik [31]

Answer: Energy Employees Occupational Illness Compensation Program (EECICP)

Explanation:

Much like private companies, the Federal government is also required to insure its workers and this is regulated under the Office of Workers' Compensation Programs (OWCP). There are several compensation programs but the relevant one here is the EECICP.

The EECICP is for federal employees in the Department of Energy as well as agencies related to them. This also includes contractors and subcontractors. Under this program, eligible workers who got injured are entitled to a lump-sum compensation as well as health benefits. If the worker dies as a result of the injuries however, a lump-sum might go to their survivors instead.

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3 years ago
Financial objectives ________.a. relate to target outcomes that indicate a company is strengthening its market standing, competi
bogdanovich [222]

Answer:

The correct answer is letter "E": are necessary to set and to achieve because adequate profitability and financial strength increases a company's long-term health.

Explanation:

A company's financial objectives reflect the revenue the firm wants to earn out of the sale of goods or services. Organizations must meet those goals to ensure their operations will remain up and running. Otherwise, the association will have to look for other methods for financing their manufacturing processes and innovation which is likely leading them to ask for loans, thus, acquiring debt.

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3 years ago
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