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Kisachek [45]
3 years ago
14

A check drawn by a company in payment of a voucher for $965 was recorded in the journal as $695. What entry is required in the c

ompany's accounts?
a. debit Accounts Payable; credit Cash.
b. debit Cash; credit Accounts Receivable.
c. debit Cash; credit Accounts Payable.
d. debit Accounts Receivable; credit Cash.
Business
1 answer:
olga2289 [7]3 years ago
8 0

Answer:

d. debit Accounts Receivable; credit Cash

Explanation:

The cash has been credited with $695 instead of $965 which means that $270 has been credited short. Same way, the liabilities have been debited by $270 short. So, we will have to reverse the entry ie. debit Accounts Receivable; credit Cash

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Jason is going to play golf this afternoon and has to choose between two different golf courses. The greens fees to play each ar
yuradex [85]

Answer:

$4

Explanation:

the relevant total cost is 4 dollars

3 0
3 years ago
Sheridan Company sells merchandise on account for $6400 to Carla Vista Company with credit terms of 2/10, n/30. Block Company re
Aliun [14]

Answer: $4,508

Explanation:

Companies usually give discounts with credit terms to encourage Receivables to pay faster.

In this scenario, credit terms of 2/10, n/30 were offered which means that if Carla Vista Company pays within 10 days they get a discount of 2% but if they don't they should pay the full amount in 30 days.

They paid within the discount period meaning that they qualify for the discount of 2% but they however returned goods worth $1800.

So calculating for that would be,

= (6,400 - 1800) (1 - 0.02)

= $4,508

The amount of the check is $4,508

8 0
3 years ago
Read 2 more answers
Match each trade organization or agreement with its description.
Dominik [7]

Answer:

1. World Trade Organization

2. North American Free Trade Agreement

3. The European Union

Explanation:

a. World Trade Organization (WTO): Oversees trade agreements among over 150 member nations and arbitrates trade disagreements among member countries. The world trade organization (WTO) is an intergovernmental organization that set rules, policies and regulates global trade across the world. It was established officially on the 1st of January, 1995.

b. North American Free Trade Agreement (NAFTA): Created a free-trade zone consisting of the United States, Canada, and Mexico with the purpose of eliminating trade barriers between these countries. It officially became effective on the 1st of January, 1994.

c. The European Union (EU): An agreement between over 25 nations, which abolished tariffs among member countries and standardized policies on agriculture, transportation, and business practices. It was established officially on the 1st of November, 1993. Some of its member countries are Sweden, Italy, Germany, Portugal, Croatia, Russia, France, Spain, Netherlands etc.

8 0
3 years ago
Scarlett Corp. uses no debt. The weighted average cost of capital is 8.4 percent. If the current market value of the equity is $
prohojiy [21]

Answer:

EBIT $2,100,000

Explanation:

WACC=EBIT/(V+D)

8.4%=EBIT/$25,000,000

EBIT=25,000,000*8.4%

EBIT=$2,100,000

5 0
3 years ago
_____ refers to the idea that all organizational members are capable of leading themselves at least to some extent. ​ a. Leaders
scoray [572]

Answer:

Option d (Self-leadership) seems to be the appropriate response.

Explanation:

  • Self-leadership seems to be a process through recognizing whoever you are, defining certain ideal perceptions, as well as consciously leading yourself towards yourself.
  • It, therefore, tells people who you are, but whether you're a certain kind of individual individuals would like to emulate.

Other possibilities aren't connected to the circumstance in question. So that is indeed the right choice.

6 0
3 years ago
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