1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mixas84 [53]
2 years ago
5

Barton Health Services provided care to a patient worth $1,200. Because the patient was over the age of 65, Barton granted the p

atient a 20% discount and the customer paid the correct amount in cash. How would Barton record the service transaction?
A. Cash 960
Service Revenue 960
B. Cash 960
Trade Discount 240
Service Revenue 1,200
C. Cash 1,200
Service Revenue 1,200
D. Cash 1,200
Trade Discount 240
Service Revenue 960
Business
1 answer:
musickatia [10]2 years ago
7 0

Answer:

A. Cash 960

Service Revenue 960

Explanation:

In the given transaction, the trade discount is not shown in the recording of the journal entry but the effect is to be seen in the journal entry.

Since the cash is paid for providing the service and give the patient a 20% discount.

So, the discount amount would be equal to

= Service cost × discount rate

= $1,200 × 20%

= $240

And, the journal entry would be shown below:

Cash A/c Dr       $960

    To Service Revenue $960

(Being service is provided for cash and discount is given)

You might be interested in
Explain why the concept of an organization as an iceberg is important.
xxMikexx [17]

Answer:An organizational iceberg can sink a business if the leaders don't take the time to find out what's beneath the surface of their culture. But once you recognize the issues at the different levels of the organizational iceberg, you can appropriately address them and keep your business in safe waters.

Explanation:IM SMART

6 0
3 years ago
Is debt finance the same as debt capital?
sveticcg [70]

Answer:

no they are not the same hope this helps

7 0
3 years ago
You need to decide whether to fight a small fire using a portable fire extinguisher.
julsineya [31]

Answer:

If you encounter a fire, a portable fire extinguisher can help protect you and possibly stop the fire in its tracks. This article covers how portable fire extinguishers work and how to use them.

Secure Your Exit

The first and most important purpose of a portable fire extinguisher is to help people escape. Portable fire extinguishers can clear fire away from your escape route or help keep an exit open for others. You should know where extinguishers are located and how to operate them. This helps ensure safe evacuations.

Fight the Fire

The second purpose of a portable fire extinguisher is to fully extinguish fires. This requires training. Portable fire extinguishers cannot extinguish large fires. Many employers do not want their employees fighting fires no matter the size. If this is the case, the extinguishers in your workplace may only be for protecting escape routes. If your employer wants you to fight small fires, they will train you.

Types of Fire Extinguishers

Fire extinguishers are rated to fight different classes of fire. Most extinguishers are rated to fight A, B and C fires, but not all. Make sure the fire extinguisher you use will work on the fire you’re facing. The wrong extinguisher could make things worse.

8 0
2 years ago
Read 2 more answers
Assume Sarah is a cash-method, calendar-year taxpayer, and she is considering making the following cash payments related to her
Marizza181 [45]

The question is incomplete. However, it is about the calculation of after-tax cost of payment

Answer:

After-tax cost = payment*(1-0.37)

Explanation:

The after-tax cost is the net cost after the deduction of the amount of tax from the actual payment. In most cases, the value of the tax deduction is determined by multiplying the marginal tax rate with the payment. Then, the magnitude of the after-tax cost can be estimated by subtracting the payment from the tax deduction.

7 0
3 years ago
Peer group analysis can be performed byA) management choosing a set of firms that are similar in size or sales, or who compete i
ANTONII [103]

Answer:

D) Only a and b relate to peer group analysis.

Explanation:

Peer group analysis allows investors to see how a certain fund performs over various periods compared to other funds within the same investment strategy. Based on this information both management choosing a set of firms that are similar in size or sales, or who compete in the same market as well as using the average ratios of this peer group, which would then be used as the benchmark, are related to the peer group analysis.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

7 0
2 years ago
Other questions:
  • Horace is trying to start a business. He knows several accredited investors who he knows will help him jumpstart his business. W
    9·1 answer
  • Technical skills: A. help you understand the potential and the limitations of information technology. B. help you work with end
    6·1 answer
  • A real estate salesperson is often approached by home buyers of a particular race. His usual practice is to show them homes in n
    10·1 answer
  • Eastman Company had a $400 credit balance in Allowance for Doubtful Accounts at December 31, 2012, before the current year's pro
    14·1 answer
  • Find the interest rate for a $5000 deposit accumulating to $7647.81, compounded quarterly for 9 years.
    7·1 answer
  • Firelight Company manufactures candles. The standard direct materials quantity required to produce one large candle is one pound
    8·1 answer
  • If you draw a card with a value of three or less from a standard deck of cards, I will pay you $146. If not, you pay me $24. (Ac
    7·1 answer
  • Geraldo is a customer care executive at a telecommunications service provider. He receives a complaint from a customer about an
    15·1 answer
  • Select the question that can be answered using only raw data. Multiple choice question. Which of the perishable items used by a
    9·1 answer
  • According to the erosion model of organizational commitment, the employee with the fewest emotional bonds is the most likely to
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!