Answer:
C. Debit to Cash of $43,650, a Debit to Factoring Fee Expense of $1,350, and Credit to Account Receivable of $45,000
Explanation:
Assuming the company factored the amount of $45,000 of its ACCOUNTS RECEIVABLE and was charged a 3% FACTORING FEE. The appropriate journal entry to record this transaction would include a:Debit to Cash of $43,650, a Debit to Factoring Fee Expense of $1,350, and Credit to Account Receivable of $45,000
Debit Cash $43,650
(97*$45,000)
Debit Factoring Fee Expense of $1,350
($3%*45,000)
Credit Account Receivable $45,000
Answer:
3
Explanation:
The computation of the degree of operating leverage is shown below:
= (Sales - Variable expense) ÷ (Sales - Variable expense - Fixed expense)
= ($700,000 - $490,000) ÷ ($700,000 - $490,000 - $140,000)
= $210,000 ÷ $70,000
= 3
The (Sales - Variable costs) = Contribution margin
The (Sales - Variable costs - Fixed costs) = EBIT i.e Earnings before interest and taxes
Answer: A. go beyond meeting society's expectations for ethical strategies and business behavior by fostering social benefit and balancing the interests of all
Explanation:
Good Corporate Citizens care about the integrity of the Business world and the trust people should have in it.
To then it is imperative that they help foster social benefits as well as financial benefits for all to partake in and enjoy from.
Answer:
A. an overstatement of net income and an understatement of liabilities.
Explanation:
The last one is correct ¯\_(ツ)_/¯
