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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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The corporate charter of Luney Corporation allows the issuance of a maximum of 100,000 shares of common stock. During its first
kakasveta [241]

Answer:

Luney Corporation is authorized to sell 100000 shares

luney has issued =  70000 shares

luney has shares outstanding 63000

Explanation:

given data

maximum shares of common stock = 100,000

sold shares =  70,000

reacquired = 7,000

solution

we know here 100000 shares are mention in charter of the company

so Luney Corporation is authorized to sell 100000 shares

and  luney has issued =  70000 shares

so here  

we know that

luney has shares outstanding  = 70000 - 7000

luney has shares outstanding 63000

7 0
3 years ago
Dorothea dix devoted her life to the cause of temperance, founding the american temperance organization.
Law Incorporation [45]

The statement is false.

Dorothea Dix devoted her life to the cause of temperance, founding the American temperance organization.

Temperance in its modern use is defined as moderation or voluntary self-restraint. it's far commonly defined in terms of what a person voluntarily refrains from doing

Temperance is described as displaying restraint in ingesting or consuming, particularly averting alcohol. An instance of temperance is when you refrain from ingesting any alcohol.

The Bible defines temperance as “Emotional restraint. Whoever is gradual to anger has outstanding expertise however the person who has a hasty mood exalts folly.” (Folly is someone who does not appreciate God.) Daniel is a superb example of a person with temperance.

Learn more about temperance here brainly.com/question/2724002

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7 0
1 year ago
A way that traditional retailers can compete with online retailers is to: Multiple choice question. use franchises that deliver
Arisa [49]

In order to compete with the online retailers, the traditional retailers can use franchises that deliver, require an administered system for all, and increase their market share.

<h3>Who is a retailer?</h3>

A manager or owner of a business organization or a unit that specializes in selling of products to their customers, which they procure from the supplier, is known as a retailer.

Hence, options A, C and D hold true regarding the traditional retailers.

Learn more about a retailer here:

brainly.com/question/22529010

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7 0
3 years ago
A variable that likely is incorporated in the error term is: A. The fixed cost of production B. the variable cost of production
Serga [27]

Answer: Variable cost of production

Explanation:

Variable costs increase or decrease depending on a company's production volume; they rise as production increases and fall as production decreases. Examples of variable costs include the costs of raw materials and packaging.

Variable cost is the cost that covers through the production phase and changes as production is being finalized. This cost changes price variables depending on how much the company produces. The rise and fall of production determines their final position in pricing. Packaging and the various material cost are examples of variable cost.

4 0
4 years ago
In the former Soviet Union, producers were paid for meeting output targets, not for selling products. Under those circumstances,
Firlakuza [10]

Answer:

The economic incentive was to produce enough to meet the output target, without regard for quality or cost.

Explanation:

As the only condition for the payment to the producers is linked with the output thus there is no constraint for the quality and the sales of the product. This indicated that the producer will get the reward irrespective whether the quality or cost of the product is feasible or not.

8 0
3 years ago
Read 2 more answers
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