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lys-0071 [83]
3 years ago
11

Messing company has an agreement with a third-party credit card company, which calls for cash to be received immediately upon de

posit of customers' credit card sales receipts. the credit card company receives 3.5 percent of card sales as its fee. messing has $4,000 in credit card sales on january 1. prepare the january 1 journal entry for messing company by selecting the account names and dollar amounts from the drop-down menus.
Business
1 answer:
Svetlanka [38]3 years ago
8 0

Cash $3860

Credit Expense $140

Sales $4,000

(3.5% of $4,000= $140)

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The balance in Happ Inc.’s general ledger Cash account was $71,580 at September 30, before reconciliation. The September 30 bala
Dafna1 [17]

Answer:

Explanation:

Bank Reconciliation: The bank reconciliation deals with the bank statement balance and the cash statement balance. The motive is to compare these two statements so that the organization can run in the smoothly manner.  

There are various transactions due to which the bank statement balance and the cash statement balance do not match. To match these statements, we adjust the transactions accordingly.

The preparation of the  bank reconciliation statement on September 30  is presented in the spreadsheet. Kindly find the attachment below:

7 0
3 years ago
Which of the following represents the correct formula for calculating cost of goods manufactured?
denis23 [38]

Answer:

B) Direct materials used + direct labor + factory overhead + beginning work in process - ending work in process.

Explanation:

The formula to compute the  cost of goods manufactured is shown below:

= Direct material used + Direct labor + Manufacturing Overhead

where,

Manufacturing Overhead equal to

= Factory overhead + Beginning work-in-process - Ending work-in-process

Or we can say that

Direct material used + direct labor + factory overhead + beginning work in process - ending work in process

6 0
3 years ago
Curzon International is a hospitality chain that has a wide range of hotels and motels. The company provides luxurious and outst
Mariana [72]

Answer: Altruism

             

Explanation: It refers to the behavior when an individual considers the benefit of other more important than the self benefit.

In the given case, the hotel chain has the sole purpose of providing best services to its customers. They are not ready to forego their dedication towards service even if it results in loss of their market share.

It is not a case of excellence as they are not charging extra for the same service to increase their profits.

Hence from the above we can conclude that the correct option is D.

7 0
2 years ago
Two drivers—Brian and Crystal—each drive up to a gas station. Before looking at the price, each places an order. Brian says, "I'
krek1111 [17]

Answer:

Brian's demand is perfectly inelastic.

Crystal's demand is unit elastic.

Explanation:

Given that

Brian said = 10 gallons of gas

where, Crystal says = $10 worth of gas

By seeing the above information, we concluded that the Brain's demand is perfectly inelastic as the demand of the gallons are fixed

And, the crystal demand is unitary elastic as the expenditure would remain unchanged or fixed

In addition, the perfectly inelastic is when elasticity is zero , and unitary elastic is when elasticity is equal to one

7 0
3 years ago
Which of the following goods is rival in consumption and excludable? a. a tornado siren b. a home c. the environment d. an uncon
algol13

Answer: d. An uncongested toll road

Explanation: it is not important

7 0
3 years ago
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