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Gre4nikov [31]
3 years ago
9

The following transactions are July 2014 activities of Craig�s Bowling, Inc., which operates several bowling centers (for games

and equipment sales).a. Craig�s collected $15,000 from customers for games played in July.b. Craig�s sold bowling equipment inventory for $8,000; received $3,000 in cash and the rest on account. [The cost of goods sold (expense) related to these sales is $6,800.]c. Craig�s received $4,000 from customers on account who purchased merchandise in June.d. The men�s and ladies� bowling leagues gave Craig�s a deposit of $2,500 for the upcoming fall season.Prepare the journal entry for the above transactions
Business
1 answer:
ololo11 [35]3 years ago
5 0

Answer:

Explanation:

The journal entries are shown below:

a. Cash A/c Dr $15,000

         To Games revenue A/c   $15,000

(Being cash collected)

b. Cash A/c Dr $3,000

   Accounts receivable A/c Dr $5,000

                   To Sales revenue $8,000

(Being cash received for selling of equipment)

c. Cash A/c Dr $4,000

      To Account receivable  $4,000

(Being cash received for merchandise sold by the company)

d. Cash A/c Dr $2,500

       To Unearned revenue A/c $2,500

(Being deposit received for the upcoming fall season)

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In the _____ phase of the decision-making process, the objective is to define criteria for the decision, generate alternatives f
Ksenya-84 [330]

Answer:

Design

Explanation:

In Simon model of decision making process there are four phases

•  Intelligence  

• Design  

• Choice  

• Implementation  

  • Intelligence phase: In this phase problem, situation and opportunity is being identified. The variable is identified which impacts the decision. It is based on the objective of organization and project
  • Design phase: This is the phase in which a model for decision is being created. It is done by identifying relation between the variable of decision-making process. Their relationship is established and then model is constructed. Based on the model various alternative of decision is created. The outcome for each decision option is also predicted and  
  • Choice phase: Based on model prepared by design phase. Various alternative of decision is created. In this phase the best decision is chosen which helps in attaining the objective most productively.
  • Implementation phase: based on choice made. The action and activities of the decision is applied to situation or the opportunity.

In the problem defined the phase which is being discussed is one in which criteria of decision , alternative for meeting and relationship between choice and criteria is evaluated which corresponds to design phase as discussed in the above model.

4 0
3 years ago
Journalize the following transactions for Roberts Company. Assume a perpetual inventory system. Also, assume a constant gross pr
astraxan [27]

Answer:

Aug 6.   Dr cash          $14,000

             Cr Sales                          $14,000

Aug,6   Dr Cost of goods sold      $8,400

            Cr Merchandise inventory              $8,400

August 12  

                 Dr Sales returns      $1,560

                  Cr Cash                               $1,560

August 12

              Dr Merchandise inventory  $936

              Cr Cost of goods sold                     $936

Explanation:

In the first place,the goods sold for cash of $14,000 means that cash account is debited and sales is credited with $14,000

However,with respect to cost of goods sold,there would a debit of $8,400 and credit of the same amount  to merchandise inventory.

The goods returned returned would necessitate debit of sales return with $1,560 and credit to cash of the same amount.

The cost of goods returned  is $936  ($1,560*$8400/$14,000) should debited to merchandise inventory and a credit to costs of good sold

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3 years ago
The Allen Marble Company has a target current ratio of 2.0 but has experienced some difficulties financing its expanding sales i
kap26 [50]

Answer:

The additional short-term funding that can be borrowed is 500,000

Explanation:

First the amount of current liabilities must be known:

Current Ratio = Current Asset / Current Liabilities  

2.5 = 2,500,000 / X  

X = 2,500,000 / 2.5

X= 1,000,000

To know how much to expand receivables and inventories in the formula of the current ratio, to the amount of current assets and current liabilities must add an amount such that the result is 2.0.  

(2,500,000 + x) / (1,000,000 + x) = 2.0

(2,500,000 + x) = 2.0 * (1,000,000 + x)

 2,500,000 + x = (2.0* 1,000,000) + (2.0 x)

 2,500,000 + x = 2,000,000 + 2.0 x

 2,500,000 - 2,000,000 = 2.0 x – x

   500,000 = x

 So the maximum that should be expand inventory and receivables is $500,000.

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ivolga24 [154]

Answer:

Me!!!!!!!!!!!!!!

Explanation:

Thanks for the pts

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