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3 years ago

In calculating the daily balance, cash advances are

Business

2 answers:

Marizza181 [45]3 years ago

8 0

A. Sometimes adding in.

Alex73 [517]3 years ago

5 0

Answer:

B. Always added in

Explanation:

While calculating the daily advance, the cash advances are always added because there is a security that the company would receive the cash in a specified period of time. Plus, it does not create any liability.

And, since advance cash is received which result in an increase in cash balance so it would be added in the daily balance computation part

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Journalize the entries to correct the following errors:

Rzqust [24]

Answer:

A. Dr Accounts Receivable for $569

Cr Supplies $569

Dr Supplies $108

Cr Accounts payable $108

B. Dr Cash $8820

Cr Fees earned $8820

Explanation:

Preparation of the entry to correct the following errors:

A. Dr Accounts Receivable for $569

Cr Supplies $569

Dr Supplies $108

Cr Accounts payable $108

B. Dr Cash $8820

Cr Fees earned $8820

($4410+$4410)

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2 years ago

If Highway 55 Studios can reduce fixed expenses by , by how much can variable expenses per unit increase and still allow the co

solniwko [45]

Answer:

$2.25

Explanation:

Please check the attached image for the full question used in answering this question

Breakeven sales is the quantity sold at which net income is equal to zero.

Breakeven sales = fixed cost / (price per unit - variable cost per unit )

$1,215,000 / ($80 - $35) = 27,000

If Highway 55 Studios can reduce fixed expenses by $60,750, variable cost =

27,000 = ($1,215,000 - $60,750) / ($80 - V)

27,000 = 1,154,250 / ($80 - V)

V = $37.25

Variable cost would increase by : $37.25 - $35 = 2.25

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3 years ago

Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet is fr

larisa86 [58]

Answer and Explanation:

According to the scenario, journal entry for the given data are as follows:

Cash A/c Dr. $1,000

Supplies A/c Dr. $3,000

Land A/c Dr. $8,000

Equipment A/c Dr. $5,000

To A/c Payable A/c $4,500

To Notes payable A/c $3,100

To M. Derr capital A/c $9,400 ($1000+$3000+$8000+$5000-$4500-$3100)

(Being Derr's investment is recorded)

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2 years ago

Prepare journal entries for each transaction listed. (If no entry is required for a transaction/event, select "No Journal Entry

AysviL [449]

Answer:

The journal entries are shown below:

Explanation:

According to the scenario, the journal entries for the given data are as follows:

(1). Jun.30 Bad Debt expense A/c Dr $12,800

To Allowance for Doubtful A/c $12,800

(Being the bad debt expense is recorded)

(2). July Allowance for Doubtful A/c Dr $6,400

To Accounts Receivable A/c $6,400

(Being the customer balance written off is recorded)

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3 years ago

Compared with a career , a job ?

Margaret [11]

A job is just a short term thing to get cash and build up experience . a career is a long term pursuit of lifelong ambition . a career you enjoy the rest of your life

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3 years ago

Read 2 more answers