Answer:
The journal entry is shown below.
Explanation:
According to the scenario, the journal entry for the given data are as follows:
Journal entry
Jul.4 Cash A/c Dr $147
Card charges A/c Dr. $3
To Sales revenue A/c $150
(Being card transaction is recorded)
Computation:
Cash = $150 - 2% × $150 = $147
Card charges = $150 × 2% = $3
The doctrine of strict liability is a legal doctrine and makes a person or company responsible for the products being sold or actions and services that may have caused damages regardless of the negligence of the user. In this regard, the strict liability doctrine may also be filed against the area of other good manufacturing.
The correct answer is C. Time draft
Explanation:
In trade, a time draft is a document that acts as credit, this means the buyer of the product can get the product and pay it after a certain amount of time, which is stipulated through the draft. Moreover, this draft is accepted by both the buyer and the seller, and it is most commonly used in international trade. This type of draft is the one used in the case presented because the payment will occur in the future rather than immediately as it occurs in other types of drafts such as a sigh draft or in regular trade drafts. Also, in this case, the buyer obtained the good (oil painting) before payment occurs and the draft acts as a promise of paying.
1.Help Them With There Complaints
2.TellThem Stop Complaining And Just Think About The Problem Instead Of Just Complaining
3.If The Problem Consist Then Report It
Hope This Helps
Answer:
- Debit Retained Earnings $500.
- Credit Dividends for $500.
Explanation:
Dividends are payments to shareholders as a means of sharing company profits to them.
As they are a means of sharing profits, they will be paid from the Retained Earnings account. As this is an Equity account, it should be debited when it is to be reduced so Retained Earnings will be debited by $500 which is the dividend amount.
The dividend account will be credited to indicate that this is a debt that needs to be paid to shareholders so the Dividends account will be credited by $500.
