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sveticcg [70]
3 years ago
14

On July 4, Cullumber's Restaurant accepts a Visa card for a $1,350 dinner bill. Visa charges a 2% service fee. Prepare the entry

on Cullumber’s books related to the transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
Thepotemich [5.8K]3 years ago
3 0

Answer:

Journal entry

Explanation:

The journal entry is as follows

Cash      $1,323

Service charge expense ($1,350 × 2%) $27

               To    Sales Revenue  $1,350

(Being the cash is recorded)

for recording this transaction we debited the cash and expenses as it increase both balances while at the same time the sales revenue is also increased so it is credited

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At Onyx incorporated, direct materials are added at the beginning of the process and conversions costs are uniformly applied. Ot
PIT_PIT [208]

Answer:

A $660,030

Explanation:

Total cost of units completed and transferred out = Units Completed and Transferred x Cost per Equivalent Unit

Therefore,

Total cost of units completed and transferred out = 117,000

5 0
3 years ago
If an applicant has extensive training, numerous scholastic accomplishments, a high level of community involvement, and no work
Gala2k [10]
A functional/hybrid resume would be more suitable for this situation.

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6 0
3 years ago
Carly’s Clips charges for their grooming services based on the following:________.
Novay_Z [31]

Answer: $256

Explanation:

Using time and materials pricing, the total price for a job requiring 3 direct labor hours and $54 of materials will be calculated as:

Materials = $54

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7 0
2 years ago
On March 1, it was discovered that the following errors took place in journalizing and posting transactions:
kaheart [24]

Answer:

a. Reversal entry:

Debit Rent expense $4,650

Credit Miscellaneous Expense $4,650

Correct Entry:

Debit Rent expense $4,650

Credit Cash $4,650

b. Reversal entry:

Debit Accounts payable $3,700

Credit Cash $3,700

Correct Entry

Debit Cash $3,700

Credit Accounts Receivable $3,700

Explanation:

Reverse entry is to simply close to zero the original entry that has been made in mistake. Afterwards, record the correct entry to properly account the transaction.

To reverse the previously made entry, we simply debit what is credited and debit what is credited.

a. We need to close the rent expense credited by debiting it and credit the miscellaneous expense that is previously debited to zereod out the mistake recording. Then to record the correct entry, Debit Rent expense and Credit Cash at the amount $4,650

b. Just ike what we did on the previous transaction, we will debit the Accounts payable and credit the cash that has been recorded by mistake to zereod out the balance and then make the correct entry. Debit Cash $3,700 and credit Accounts receivable $3,700.

5 0
3 years ago
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saveliy_v [14]

Answer:

Pricing

Explanation:

4 ingredients of marketing mix are Pricing, Product, Place and Promotion(the 4Ps).

Pricing-  is for determining the value that is put on a product including rebates. Deciding the correct intrinsic value of a product puts a lot of factors into consideration like the target market, the consumer willingness to pay, whether it is sufficient enough for the company to make a profit out of it.

Product - answers the <em>what</em>; the actually good or service being offered for sale.

Place- answers the <em>where; </em>the location of product so customers can buy it.

Promotion- any activities to inform the target market that the product exist, how to use it etc. this includes advertisement, word of mouth among others.

6 0
3 years ago
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