1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mars1129 [50]
3 years ago
8

Brief Exercise 4-09 At Raymond Company, the following errors were discovered after the transactions had been journalized and pos

ted. 1. A collection on account from a customer for $870 was recorded as a debit to Cash $870 and a credit to Service Revenue $870. 2. The purchase of store supplies on account for $1,510 was recorded as a debit to Supplies $1,150 and a credit to Accounts Payable $1,150.
Business
1 answer:
labwork [276]3 years ago
6 0

Answer:

Dr Cash 870

                 Cr Account Receiable 870    

Dr Supplies  360

                  Cr Account Payable    360  

Explanation:

1. whenever sales is recorded, Account receivable is debited and sales revenue is credited,cash is recorded when collection is made against that receivable in this case directly cash has been recorded without first generating account receivable entry.

2.in this case (1510-1150=$360) of purchases has not been recorded therefore we have to create an entry of $360.

You might be interested in
Besides the actual mortgage payment, which also factors into the monthly payment on a home?
Maurinko [17]

It is the property taxes that go along with the mortgage monthly payment

So the answer is C: Property taxes

The lender will generally set up an escrow account to cover for the property taxes and pay these items on your behalf when they are due

6 0
3 years ago
(LaVilla) LaVilla is a village in the Italian Alps. Given its enormous popularity among
garri49 [273]

Answer:

  a) 120 skiers per day

  b) 6.25% increase in revenue

Explanation:

a) If the average skier stays 10 days, the average turnover is 1/10 of the skiers per day, or 1200/10 = 120 skiers per day.

__

b) For a stay of n days, the average skier spends ...

  50 +(n-1)30 = 20 +30n

and the average spending per day is ...

  (20 +30n)/n = (20/n) +30

So, for a 10-day stay, the average skier spends in restaurants ...

  20/10 +30 = 32 . . . . per day

And for a 5-day stay, the average skier will spend ...

  20/5 +30 = 34 . . . . per day

The change in restaurant revenue is expected to be ...

  (34 -32)/32 × 100% = 2/32 × 100% = 6.25%

Restaurant revenues will be 6.25% higher compared to last year.

8 0
3 years ago
A portfolio that combines the risk-free asset and the market portfolio has an expected return of 6.5 percent and a standard devi
mario62 [17]

Answer: Step 1) Find share of market in the Portfolio

(11.5-3.5)x+3.5=6.5

8x=3

x=3/8

x=0.375

=37.5%

SD of market portfolio= 0.375x+0=9.5

x=9.5/0.375

=25.33%

correl = cov / (std 1 * std2)

0.4=COV/0.2533*0.545

COV= 0.2533*0.545*0.4=0.05

cov of 2 assets = b1 * b2 * variance of market

0.05=B1*1*0.2533^2

B of security=0.0032

Capm Model

3.5+0.0032(11.5-3.5)=3.5256% expected return

Explanation:

Step 1) Find the share of market in the portfolio in order to find market SD

Step 2)  Find Covariance betweens security and market by using both SDS and correlation

Step 3) Find Beta of Security using Co variance

Step 4) Use the Beta in CAPM model in order to find expected return

4 0
3 years ago
For a business that uses the allowance method of accounting for uncollectible receivables:
Yuri [45]

Answer:

The Journal entries to record the given transactions would be:

Account Title                                                  Debit         Credit

(1) Uncollectible Accounts Expense              18,600

    Allowance for Doubtful Accounts                               18,600

     ($600 + $18,000)

(2) Allowance for Doubtful Accounts              350

    Accounts Receivable—Fronk Co.                                350

(3)  Accounts Receivable—Fronk Co.             200

     Allowance for Doubtful Accounts                               200

     Cash                                                            200

     Accounts Receivable—Fronk Co.                                200

(4)  Cash                                                            400

     Allowance for Doubtful Accounts*            200

     Accounts Receivable—Dodger Co.                             600

($600 - $400)*

3 0
3 years ago
Alexandra wants to play soccer & also work at McDonald's. She cannot do both so she decides to play soccer. What is her oppo
Tanya [424]

Answer:

Opportunity cost is giving up the working at Mc Donald's

Explanation:

Opportunity cost is the term which is stated as the profit, value of something or the benefit which is given up for something in order to acquire or accomplish something else.

In this case, Alexandra wants to work at Mc D and play soccer. So, she decided to play soccer. Therefore, the opportunity cost is working at Mc Donald in order to play.

4 0
3 years ago
Other questions:
  • An organization with a(n) ___ culture is characterized by employees not becoming friends and having a high degree of autonomy an
    12·1 answer
  • The current market interest rate for $1,000, 10-year bonds of large corporations in the food industry is 6.3 percent. If a large
    5·1 answer
  • The management of River Corporation is considering the purchase of a new machine costing $380,000. The company's desired rate of
    15·1 answer
  • Creating policies for health and safety is part of which risk management strategy? A.) Avoiding risk B.) Sharing risk C.) Accept
    11·1 answer
  • Which of the following terms refers to a regulatory agency that seems to serve, rather than oversee, the interests it monitors?
    13·1 answer
  • On July 1, 2015, Friedman Inc. invested $717,963 in a mine estimated to have 806,700 tons of ore of uniform grade. During the la
    10·1 answer
  • You are planting seeds in a vegetable garden. According to the instructions on the seed​ packet, the seeds should be placed​ 12"
    8·1 answer
  • Certain skilled labor, such as hair cutting, requires licensing or certification. This is costly and takes a long time to acquir
    6·1 answer
  • A tax on the amount of money a person earns in a year is a(n)
    6·2 answers
  • Margo insists that her dreams frequently enable her to perceive and predict future events. margo is claiming to possess the powe
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!