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miss Akunina [59]
4 years ago
11

intext:"Callie Company received a $700 payment from a customer previously billed for services performed. The journal entry to re

cord this transaction would include a"
Business
1 answer:
juin [17]4 years ago
5 0

Answer:

Debit Cash account       $700

Credit Accounts receivable   $700

Explanation:

When revenue is earned but cash is yet to be received,

Debit Accounts receivable

Credit Revenue account

When cash is received,

Debit Cash account  

Credit Accounts receivable.

As such, when a company received $700 from a customer previously billed for services performed,

Debit Cash account  

Credit Accounts receivable

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How much was nasa paid to launch west germany's spas-01 satellite in 1983?
tresset_1 [31]
Nasa was paid 13 million to launch west germany's space-01 satellite in 1983

4 0
3 years ago
Williamsburg Market is an all-equity firm that has net income of $96,200, depreciation expense of $6,300, and an increase in net
Tanzania [10]

Answer:

Option (b) is correct.

Explanation:

Given that,

Net income = $96,200

Depreciation expense = $6,300

Increase in net working capital = $2,800

Net cash from operating activity:

= Net income + Depreciation expense - Increase in net working capital

= $96,200 + $6,300 - $2,800

= $99,700

Therefore, the amount of the net cash from operating activity is $99,700.

4 0
3 years ago
Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead
krok68 [10]

Answer:

d. underapplied by $ 3,000

Explanation:

Computation of predetermined overhead rate based on direct labor hours

Estimated Overhead Cost                                      $      330,000

Estimated Direct Labor Costs                                          55,000 hours

Predetermined Overhead rate ( $ 330,000/ 55,000)  $ 6 per labor hour  

Total applied overhead   =   Actual Direct Labor hours times Overhead rate

57,000 hours * $ 6 per hour                                  $ 342,000

Actual manufacturing overhead                            <u>$ 345,000</u>

Under applied overhead                                        $(    3,000)

3 0
3 years ago
rodriguez corporation issues 6,000 shares of its common stock for $108,300 cash on february 20. prepare journal entries to recor
Klio2033 [76]

The journal entries to record this event under each of the following separate situations.

A Journal entry is a record of the commercial enterprise transactions inside the accounting books of a enterprise. A well documented journal entry consists of the ideal date, amounts to be debited and credited, description of the transaction and a unique reference wide variety. A journal entry is the first step within the accounting cycle.

Journal entry

No account and explanation Debit Credit

a Cash 54200  

 Common Stock (6000*6)   36000

 Paid in Capital in excess of par value-Common Stock   18200

     

b Cash 54200  

 Common Stock   54200

     

c Cash 54200  

 Common Stock (6000*3)   18000

 Paid in Capital in excess of stated value-Common Stock   36200

Learn more about Journal entry here:-brainly.com/question/28390337

#SPJ4

     

3 0
1 year ago
Reliance Corporation sold 4,500 units of its product at a price of $20 per unit. Total variable cost per unit is $11.00, consist
BaLLatris [955]

Answer:

$40,500

Explanation:

A Companies Contribution Margin is a product's price minus all associated variable costs, this final value gives the products incremental profit earned for each unit sold. Therefore in this scenario, the Contribution Margin for the company is as follows

(4,500 * $20) - (4,500 * $11)

$90,000 - $49,500

$40,500

Therefore the final Contribution Margin for the company is $40,500 dollars.

8 0
3 years ago
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