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Verizon [17]
3 years ago
11

On March 17th, Rollo's Antiques accepted a credit card for a $1,000 purchase. The credit card company charges a 2% service fee.

The entry to record this transaction would include a A : credit to Service Charge Expense of $20. B : debit to Cash of $1,000. C : debit to Service Charge Expense of $20. D : credit to Cash of $980.
Business
1 answer:
Ne4ueva [31]3 years ago
3 0

Answer:

C : debit to Service Charge Expense of $20

Explanation:

The complete journal entry used to record this transaction would be:

March 17, 202x, sales revenue

Dr Cash 980 (assuming the transaction is processed automatically)

Dr Service charge (or Credit card) expense 20

    Cr Sales revenue 1,000

Since the credit card company is charging you a 2% commission ($20), we must consider it an expense. Remember that all expenses must be debited.

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Flagler Corporation takes eight hours to complete the setup process for a certain electrical component, with the setup cost aver
marshall27 [118]

Answer:

The question is missing the below options:

$0.

$150.

$300.

$900.

$1,200.

The answer to the question is $300

Explanation:

In determining the amount of non-value adding cost,Flagler number of hours used in setup process is compared to that of its competitor.As a result of comparison, it came to light that Flagler used two more hours in setup process.

The extra hours do not necessarily make Flagler better,instead it makes worse off, as extra $300(2hrs*$150) would have to be incurred without any benefits derived.

This extra costs that do not make the organization better off and  do not add value,so it the non-value adding costs.

(8hrs-6hrs)*$150=$300

3 0
2 years ago
Selling price per unit = £0.63
ikadub [295]

Answer:

368 units

Explanation:

The Break-even point is calculated by dividing fixed cost by the contribution margin per unit.

Fixed cost = £140

Contribution margin per unit = Selling price per unit - variable cost per unit

Selling price = £0.63 : Variable cost :  £0.25

Contribution margin per units =£0.63 - £0.25

=£0.38

Break-even point = £140 / £0.38

=368.42

=368 units

5 0
2 years ago
In which business organizations will all the owners be allowed to manage or control the entity while enjoying limited liability?
barxatty [35]

Answer:

The Corporation and Partnership forms of business.

Explanation:

In Limited Liability the profits and losses are transferred to owners without Taxation and there is a shield of personal liability is also available.

5 0
3 years ago
When gathering informatin about an industry pay attention to whether it is a growth industry what does this mean
Pavel [41]

Answer:

there are mainly two types of industries that we can identify based on their nature. One is new and growing industries and other is established and mature industries.

when we analyze a particular company in a certain industry or analyzing a particular industry in an economy, we have to understand if it is a new and and growth industry of a matured industry as the growth, volatility and risks in these industry type change rapidly depending on which industry we are looking at.

Growth industries can be simply described as new and industries that did not exist previously.

Explanation:

7 0
3 years ago
It is crucial to understand the various factors contributing to your employees' stress as well as the consequences of it. Catego
fomenos

Answer: Environmental Sources of Stress

Economic uncertainty

Technological Change

Organizational Sources of Stress

Task demands

Interpersonal demands

Personal Sources of Stress

Economic problems

Family Problem

Explanation:

Environmental Sources of Stress: these are sources of stress specific to the physical environment of an employee. Stress factors include economic downturns, political instability and technological changes which may threaten an employee's job.

Organizational Sources of Stress: Task demands which are more than the employee believes they can achieve or Interpersonal conflicts between employees are stress factors that fall in this category.

Personal Sources of Stress : these are stress factors present in an employee's personal life. They can be due to marital issues, financial problems, among others. Although, not directly related to an employee's ability to carry out their tasks, these problems can affect an employee's performance at work.

5 0
2 years ago
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