Answer:
$45,000 revenue to be recorded
Explanation:
If the seller is purchasing the goods and service from customer at fair value of those goods, so will account for that purchase as separate transaction.
Computing overpayment as:
Overpayment = Amount paid - Fair value
where
Amount paid is $10,000
Fair value is $7,000
So,
Overpayment - $10,000 - $7,000
Overpayment = $3,000
Now,
Computing the Net revenue which should be recorded as:
Net revenue = Sale amount - Overpayment
where
Sale amount is $48,000
Overpayment is $3,000
So,
Net revenue = $48,000 - $3,000
Net revenue = $45,000
Answer:
The journal entry to record the sale transaction would be to "debit cash $295.50; debit credit card expense $4.50 and credit sales $300"
Explanation:
The credit card expense of $4.5 ( i.e, Sales of Merchandise <em>$300</em> multiplied by Bank service charge deduction <em>1.5%</em>) is a loss.
Therefore, It should be debited.
Answer:
When the new processes are developed for manufacturing it results in interest rate fluctuations. However, operational costs would become uncertain which would further affect the total production costs. Thus the value of an investment would be impacted. Automobile demand from the customers will also get affected. thus, fall in interest rate will have a significant and positive affect on the sale of automobiles as well as revenue.
The limits of the terms of trade are determined by the comparative cost conditions in each country before trade:
Less commerce occurs as a result of partial specialization and rising costs than when costs are constant. The cost advantage one country has over another serves as the foundation for commerce. This explains why some countries make things that they also import since they are able to do so for less money than their trading partners.
What is comparative cost ?
Comparative costs refers to comparing, using a comparative costs approach, the costs of signing into a privatized contract to the expenses of the state maintaining to provide the services that are the subject of the contract.
Therefore,
Less commerce occurs as a result of partial specialization and rising costs than when costs are constant. The cost advantage one country has over another serves as the foundation for commerce. This explains why some countries make things that they also import since they are able to do so for less money than their trading partners.
To learn more about comparative cost from the given link:
brainly.com/question/8141905
Answer:
B. shortage of 1,000 gallons per week
Explanation:
Price = $1
Quantity demanded = 2,000
Quantity supplied = 1,000
Shortage = Quantity demanded - Quantity supplied
= 2,000 -1,000
= 1,000 gallons per week
Therefore, As per question Quantity demand that is 2,000 and quantity supplied that is 1,000. So, in this given case the Quantity demand is more than the quantity supplied.
Hence, there is shortage of 1,000 gallons per week.
