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koban [17]
3 years ago
10

On May 10, Keene Company sold merchandise for $4,000 and accepted the customer's Best Business Bank MasterCard. At the end of th

e day, the Best Business Bank MasterCard receipts were deposited in the company's bank account. Best Business Bank charges a 3.8% service charge for credit card sales. Prepare the entry on Keene Company's books to record the sale of merchandise. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
natta225 [31]3 years ago
8 0

Answer:

Cash $3,848  

Service Charge Expense     ($4,000 ×3.8%) $152  

       To Sales Revenue  $4,000

(Being the record of the sale of merchandise is recorded)

Explanation:

The journal entry is shown below:

Cash $3,848  

Service Charge Expense     ($4,000 ×3.8%) $152  

       To Sales Revenue  $4,000

(Being the record of the sale of merchandise is recorded)

Since sale is made so we debited the cash it increased the assets plus there is service charge expense so the same is also debited as it increased the expenses and at the same time the merchandise is sold so it would be credited as it increased the revenue

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During this period, people who monitor the U.S. economy were constantly on the lookout for signs of inflation. Explain why infla
Elis [28]

Answer:

GDP is higher than normal

Explanation:

This is a situation where GDP is higher than the usual and it shows that the economy is above the employment level and overly active. The extra gross domestic product leads to an increase in demand for goods and services and that leads to high inflation. The initial sighs include, increase in employment rate, more wages, high demand.

6 0
3 years ago
The campground will make the most economic profit whenit has property rights to a clean lake . True or False: The fish cannery w
babymother [125]

Answer:

hi your question is incomplete here is the complete question

Consider a lake found in the town of Center Barnstead,

The town has a campground whose visitors use the lake for recreation. The town also has a fish cannery that dumps industrial waste into the lake. This pollutes the lake and makes it a less desirable vacation destination. That is, the fish cannery's waste decreases the campground's economic profit.

Suppose that the fish cannery could use a different production method that involves recycling water. This would reduce the pollution in the lake to levels safe for recreation, and the campground would no longer be affected. If the fish cannery uses the recycling method, then the fish cannery's economic profit is $1,500 per week, and the campground's economic profit is $1,800 per week. If the fish cannery does not use the recycling method, then the fish cannery's economic profit is $2,000 per week, and the campground's economic profit is $1,000 per week. These figures are summarized in the following table.

Action

Profit

Fish Cannery

Campground

Total

(Dollars)

(Dollars)

(Dollars)

No Recycling 2,000 1,000  

Recycling 1,500 1,800  

Total economic profit is highest when the recycling production method is   .

When the fish cannery uses the recycling method, the campground earns $1,800−$1,000=$800$1,800−$1,000=$800 more per week than it does with no recycling. Therefore, the campground should be willing to pay up to $800 per week for the fish cannery to recycle water. However, the recycling method decreases the fish cannery's economic profit by $2,000−$1,500=$500$2,000−$1,500=$500 per week. Therefore, the fish cannery should be willing to use the recycling method if it is compensated with at least $500 per week.

Suppose the campground has the property rights to the lake. That is, the campground has the right to a clean (unpolluted) lake. In this case, assuming the two firms can bargain at no cost, the fish cannery will   the recycling method and will pay the campground   per week.

Now, suppose the fish cannery has the property rights to the lake, including the right to pollute it. In this case, assuming the two firms can bargain at no cost, the fish cannery will   the recycling method, and the campground will pay the fish cannery   per week.

ANSWER

  • True
  • True

Explanation:

The campground will make the most economic profit when it has property rights to a clean lake : True. this is true because the Fish cannery will be using the recycling method and from the table it is seen that when the recycling method is used The Campground make the most economic profit

The fish cannery will use the recycling method regardless of who has the property right : TRUE . this is because the Fish cannery will use the recycling method anyways because the recycling method would not pollute the water hence not interfering with the campground activities in case they own the property rights.

6 0
3 years ago
Kraft produces Lunchables, a prepackaged meal usually consisting of several crackers, small slices of meat, and small slices of
V125BC [204]

Answer:

<em>As mothers with a school going children, they are packing a meal which is healthy as well as simple.</em>

Explanation:

As the box color is bright yellow and the food which is inside the box is in a less quantity. <em>The target market for Kraft Lunchables is been considered very very likely </em><u>as mothers with a school going children, they are packing a meal which is healthy as well as simple</u>.  

<em>Because, as we can see in the question, the foods which are mentioned  there are very simple, hygienic and healthy, like a mom is packing a lunch-box for her school going child. </em>

<em>And we can also see the color of that box, the color also indicate the lunch-box that moms give to their child while the child is going to a school.</em>

3 0
3 years ago
On January 1, 2021, Farmer Fabrication issued stock options for 100,000 shares to a division manager. The options have an estima
Black_prince [1.1K]

Answer and Explanation:

The journal entries are shown below:

1. The revised estimated amount of total compensation is

= 100,000 shares × $6

= $600,000

2. The action shows that the Farmer Fabrication cumulative effect for the year 2022 earnings            

3. The journal entries are shown below:

For the year 2022

Compensation expense

         To Paid-in Capital-Stock options $200,000

(Being the compensation expense is recorded) $200,000

For recording this we debited the compensation expense as it increased the expenses and credited the paid in capital as it increased the stockholder equity

The computation is shown below:

= $600,000 ÷ 3 years

= $200,000

7 0
3 years ago
Assignment Details
Brrunno [24]

Lego the most beautiful product which targets two different consumer segments or may be more,A danish based company best selling construction toy in the planet to make these sets it takes years to design and development which enables the portal to kids from the age of 3 to a civil engineer in is 40s. It take is simple logic building blocks children spent 5 billion hours on Lego and why is it interesting is because with 6 pieces of 8 studded blocks a person can built 915 million different combinations. It may not be fascinating for the kids but the adults love new challenges. Lego there is a brand called as Technic which makes the Lego come to life.

Lego Duplo is for the the kids between 2-5, Lego Classic is for kids , Lego creator is for 7 to 12 years Lego Technic can range 11 to 16 Lego creator which is 16 + age so this is how communication has been made for each target.

Explanation:

Marketing mix or the 4p's of marketing Price,Promotion, Product and Placement.

Consumer Segment are comprises of the age group a category that people are influenced to buy a certain product example Coca-Cola is mostly drank by elderly people but Pepsi is drank buy youngster at the adolescent age.

Communication is important as to it implies on a way it has been presented it could be either by social media or by google or pamphlets etc.

3 0
3 years ago
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