Answer:
Following are the Journal entries of the give scenario.
July 31
Debit: Cash = $2,076
Credit: Account Receivable = $2,076
The transaction is processed to record the electronic fund transfer received by the bank.
July 31
Debit: Bank Services Charges = $41
Credit: Cash = $41
The Transaction is Processed to record the bank service charges.
Answer:
$2.835 in March and $0 in May.
Explanation:
As per the data given in the question,
The actual method of accounting is that the revenue is not recognized in the period when the actual cash is received but the period in which it is earned.Hence, May-31 income statement will not recognize any part of revenue and March-31 income statement will recognize the whole revenue of $2.835 million.
Hence, $2.835 in March and $0 in May.
Answer:
The answer is 5.2 million
Explanation:
Solution
Given that:
The cost of good sold is =$35 million
Inventory = $3.5 million
Thus we compute for the Inventory turnover which is given below:
Inventory turn over ratio (ITR)
=Cost of goods sold/Inventory
=35$million/$3.5 million
=$10 million
So,
The weekly supply = The number of week in a year /ITR
= 52 Weeks/$10 million
=5.2
Therefore the turnover of inventory is 5.2 million which is close to option (d) 5.00
Answer:
Customer Relationship Management (CRM)
Explanation:
Customer Relationship Management (CRM) is a technique or approach initiated by the corporation to manage the all-important information about the patent customer to gain loyalty at fullest and maximize the business p[productivity.
the main focus of this approach is to know about all those customers who can be in a list of potential customers.
F = $22,500 per year
VC = $30 per customer
Q₍be₎ = 12,600 customers
SP = ?
Q₍be₎ = F / (SP - VC)
12600 = 22500 / (SP - 30)
12600(SP - 30) = 22500
12600SP - 378000 = 22500
12600SP = 22500 + 378000
12600SP = 400,500
SP = 400,500 / 12,600
SP = $31.78