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tangare [24]
3 years ago
10

Acme Company has an agreement with a major credit card company which calls for cash to be received immediately upon deposit of A

cme customers' credit card sales receipts. The credit card company receives 3.5% of card sales as its fee. If Acme has $2,000 in credit card sales, which of the following statements is true?a. Acme debits Cash $2,000b. Acme debits Cash $1,930c. Acme debits Accounts Receivable - Credit Card Co $2,000d. Acme debits Accounts Receivable - Credit Card Co $1,930e. Acme credits Sales $1,930
Business
1 answer:
sattari [20]3 years ago
5 0

Answer:

b. Acme debits Cash $1,930

Explanation:

Before passing the journal entry, first we have to do the calculations which his shown below

= Credit card sales - Credit card sales × fee percentage

= $2,000 - $2,000 × 3.5%

= $2,000 - $70

= $1,930

The journal entries are shown below:

Cash A/c Dr $1,930

          To Sales A/c $1,930

(Being cash is received after applying the fee percentage)

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Suppose that a firm’s marginal production costs are given by MC = 10 + 4Q. The firm’s production process generates a toxic waste
SCORPION-xisa [38]

Answer:

A) Marginal private cost= 50

B) Total Marginal social cost to society = 70

Explanation:

A) In order to find the marginal private cost we will use the firms production cost formula as it is the private cost that the firm is enduring and is only relevant to the firm's cost and not the society's cost.

In order to find the marginal unit cost of the 10th unit produced will will replace Q in the formula by 10 as it represents quantity.

MC= 10 + 4Q

MC= 10 + 4(10)

MC= 10 +40 = 50

B) In order to find the marginal cost to society we will add the marginal external cost of the 10th unit to its private cost. We already know the marginal private cost is 50 now we need to find the marginal external cost to it to find the total marginal cost.

Marginal external cost = 2Q

Q= 10

Marginal external cost = 2*10 =20

The total Marginal cost to society= 50 + 20= 70

3 0
2 years ago
As the burden of taxes grows, the role of the auditor becomes increasingly important to the organization. True or false
Mila [183]

Answer:

False

Explanation:

In the case when the tax burden increased so the role of the auditor is to audit the financial statements of the company and based on this they given the opinion that could be either favorable or unfavorable also they look into the operational effectiveness and efficiency but the role of the auditor is not increasingly important as for the tax purpose the tax accountant should be considered such as Chartered accountant, etc

8 0
2 years ago
Which government agency is in charge of regulating the sale of stocks and bonds? A. The Securities and Exchange Commission B. Th
viva [34]

Answer:

A

Explanation:  The Securities and Exchange Commission

4 0
3 years ago
Community hospital just hired a contrast coder who charges $5.00 per record coded. Last week she coded 300 records. The HIM mana
VLD [36.1K]

Answer:

The contrast coder's weekly salary last week was $450.00.

Explanation:

The CC charged $5.00 per record coded. The previous week she coded 300 records.

Write it like:

$5.00 x 300 = 1500.00

Though remember the hospital has a 30% benefit.

So:

1500.00 x 30%*=450.00

*0.30 if you can't do the % sign on the calculator

Sorry if it doesn't work out!

6 0
2 years ago
Project X has cash flows of $8,500, $8,000, $7,500, and $7,000 for Years 1 to 4, respectively. Project Y has cash flows of $7,00
kondaur [170]

Answer:

e. Project X has both a higher present value and a higher future value than Project Y.

Explanation:

The project X cash flows are higher in initial years than of project Y. The present value of project X cash flows will be greater than project Y. The time value of money of project X will be greater than Project Y.

The future value of Project X will also be higher than project Y because it has higher cash flows in earlier years. When future value will be calculated the project X will give the higher Future value than project Y.

4 0
2 years ago
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