Answer:
The correction entries shall be as follows,
1. Service Revenue Dr. $ 920
Customer Account Cr. $ 920
2. Store Purchases Dr. $1,180
Accounts Payable Dr.$340
Supplies Account Cr. $ 1,520
Explanation:
1. The service revenue account was overstated and customer account understated. therefore by debiting service revenue and by crediting customer account, both have been restated at their actual position.
2. The accounts payable was overstated by $ 340 (1,180-1520).it is rectified by debiting with $ 340. Whereas the supplies account was wrongly debited therefore that impact of $1,520 reversed and actual store purchases debited with actual amount of $1,180
Lamar's experience demonstrates retroactive interference.
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Explanation:</u></h3>
When a person tries to recall some information that are older in nature and comes to know about some recent information it refers to Retroactive interference. For instance you may call the name of your grandmother with the name of your mom. There will be a retroactive interference with the two names.
This happens when you forget some tasks that are learnt in past because of the learning of new tasks. In the given example, Lamar only rememnbers the names of the people in the first group and remebers the profession of the last women met by him. His experience demonstrates retroactive interference.
Since there now is a second store, the customers will need to be shared. This means that there are less customers in Jeff's business. Therefore the answer is D: demand for his hotdogs will decrease.
Answer: 1. 18 times
2. Park is in better position
Explanation:
1. Times interest earned is a financial ratio that measures interest coverage. It's essentially to check if a company can pay it's debt payments and is calculated by either EBIT or EBITDA divided by the total interest expense. The higher the better and anything above 2.5 times is usually considered.
Calculating would therefore be,
= $6,120,000 /$340,000
= 18 times.
2. As mentioned in the first answer, for the Times interest earned, the higher it is, the more favourable it is. So Park Company will be considered safer and are most definitely in a better or worse position than its competitor to make interest payments if the economy turns bad. The fact that theirs is 18 means that they can pay off their interest expense 5 times more than their competitor who can only repay 12 times.
If you need any clarification do comment.
Answer:
I would say B
Explanation:
because like you need to be nice to everybody like its just the right thing to do and plus those existing customers might just be the ones who help u along the way u never know
hoped this helped lmk if it did
