1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Natalka [10]
3 years ago
10

On Jan. 3, Gourmet Cakes sold $15,000 of merchandise on account to Jerry Hines. On Jan. 10, Jerry returned $2,000 of the merchan

dise because they bought too much. Assuming the cost of the returned merchandise to Gourmet Cakes was $500 and they use a perpetual inventory system, the journal entry on Jan. 10, to record the return of the merchandise from Jerry Hines, would be:
Business
1 answer:
Sonja [21]3 years ago
4 0

Answer:

sales returns & allowance     2,000 debit

            accounts receivables              2,000 credit

Inventory                                    500 debit

             COGS                                        500 credit

-to record the return of goods from Jerry Hines--

Explanation:

As the returned goods are not reported as failure or malfunction just; the customer returned as exceeds his needs, we can return them to goods ready to sale thus; inside inventory account.

We will decrease the account receivable, our COGS and increase our inventory

You might be interested in
A suburban specialty restaurant has developed a single drive-thru window. Customers order, pay, and pick up their food at the sa
andrew11 [14]

Solution :

The average number of the arrivals, λ = 6 per hour

Average service rate, $\mu = \frac{60 \times 2}{15}$

                                      = 8

Average number of the customers in the system is given by,

    $= \frac{\lambda}{\mu - \lambda }$

   $= \frac{6}{8 - 6 }$

  = 3

Average number of the customers that are waiting in the line behind the person who are being served is,

   $=\frac{\left(\frac{\lambda}{\mu}\right)^2}{1-\frac{\lambda}{\mu}} $

  $=\frac{\left(\frac{6}{8}\right)^2}{1-\frac{6}{8}} $

 $=\frac{(0.75)^2 }{0.25} $

  = 2.25

Proportion of the time the server is busy,

    $=\frac{\lambda}{\mu}$

   $=\frac{6}{8}$

   = 0.75

7 0
2 years ago
1. What are chain restaurants?
Brilliant_brown [7]

1. Chain restaurants are restaurants that operate as a group. Typically, the concept, design,menu,and name of the restaurant will be the same at all of the restaurants within the group.

2. Celebrity restaurants are owned by notable public figures. Some of these  estaurants are owned by chefs such as Wolfgang Puck and Gordon Ramsay, but others are owned by celebrities from areas other than culinary arts.

3. Managed services are catering or food service providers who operate in sites other than restaurants.

4. Forecasting involves estimating the restaurant's profits and expenses for a specific period of time. First, forecasting allows the restaurant to assess their viability for that period of time. Second, forecasting allows a restaurant to estimate the amount of food and other supplies that it will need to have on hand at particular times. Finally, forecastasting lets a restaurant know the number of staff that it will need to have to serve guests and handle restaurant operations.

5. Fine dining restaurants are usually characterized as those serving cooked to order dishes that are made from scratch with fresh ingredients. We typically think of fine dining restaurants as serving elegant food prepared by chefs with a great deal of expertise and training which is the opposite of most lower class restaurants.

Critical Thinking:

1. Managed services are usually given to people to go or catered to a location whereas a restaurant has one location where people sit to eat one meal. Managed services cook their food in mass portions for large groups of people but restaurants cook meals to  order.

2. Menus are important to restaurants because they give a general appeal to the guests and also they include the base information for the products that they're selling. If a restaurant doesn't have a detailed, accurate, appealing menu then they probably wouldn't sell products as efficiently.

3. You need a clean working space,correct utensils and supplies, educated and hardworking employees,and fresh product.

4. If your kitchen design is all whack, your product will not come out in a timely sequence and everything will be backed up. The products then come out low quality and the guests are not satisfied. With a good design, everything will run smoothly and each dish will have an equal amount of time spent on them. The quality will be better therefor creating a  happy guest.

5. The back of the house doesn't communicate with guests while the front of the house is always communicating with guests on a regular basis. The back of the house puts the food together while the front of the house doesn't usually worry about the food at all.  There are also more employees in the front of the house than there is for the back of the house.

4 0
3 years ago
How is health insurance different from auto insurance?
Bess [88]

While both types of insurance are required, if you do not have health insurance, you will be required to pay a fee on your taxes.

FYI, while this used to be true the United States has recently removed the requirement known as the "individual mandate" for people to have health insurance or face a penalty.

6 0
3 years ago
At Sound Off!, a store that buys and sells used CDs, there is only one general partner, Sonia. She spends all her time running t
Alex777 [14]

Answer:

D. Limited partnership

Explanation:

This is an example of a limited partnership

6 0
3 years ago
Why would an entrepreneur be best suited to opening a new business, rather than buying an existing business or franchise?
Mariulka [41]

Answer:

For example, it's really easy to finance while buying in an existing business while starting a new one. In Addition tons of bankers and investors all around the world would feel more comfortable dealing with a business that already has had a proven track record.

Explanation:

3 0
3 years ago
Other questions:
  • Which is the best option for people who need the items immediately but cannot pay cash now?
    13·2 answers
  • Where in the CAFR would one find the long-term liability for revenue bonds (paid from the revenues of an enterprise fund)?
    10·1 answer
  • Voyager Corporation has developed the following cost formula for its maintenance cost: Y = $300 + $2X, where X = the number of d
    7·1 answer
  • Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,800 of dir
    10·1 answer
  • Which of the following movements started in Great Britain in the early 1980s when then Prime Minister Margaret Thatcher started
    6·1 answer
  • The project title should
    14·1 answer
  • (1) (2) (3) DI C DI C DI C $ 0 $ 4 $ 0 $ 65 $ 0 $ 2 10 11 80 125 20 20 20 18 160 185 40 38 30 25 240 245 60 56 40 32 320 305 80
    7·1 answer
  • the purpose of tracing a sample of inventory tags to a client's computerized listing of inventory items is to determine whether
    9·1 answer
  • The​ product/market expansion grid is a tool that allows marketers to identify growth opportunities. Of the​ following, which re
    10·1 answer
  • Coronado Company reported net income of $69000 for the year. During the year, accounts receivable decreased by $8100, accounts p
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!