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sergejj [24]
3 years ago
9

Corbin Company was charged​ $25 for a check printing service fee associated with its checking account. Which journal entry is​ r

equired?
Business
1 answer:
snow_tiger [21]3 years ago
3 0

Answer:

Dr Miscellaneous expense $25

Cr Cash $25

Explanation:

With regards to the above, the $25 charged for a check printing fee, associated with their check in account is an expense, hence must be debited to miscellaneous expense account while the corresponding entry will be credited to cash account.

Hence journal entry would be;

Dr Miscellaneous expense $25

Cr Cash $25.

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Derek just received a bonus and wishes to set aside a portion of it in order to save for a 10-year reunion cruise that his old c
kotegsom [21]

Answer:

$3,168

Explanation:

We will receive $4000 in future (after 4 years time) which means all we want to know is the amount that we Derek must deposit today.

This present value of the $4000 payment received after 4 years from today can be calculated using the following formula:

Present value = Future Value / (1 + r)^n

Here

Future Value is $4000

r is 6%

n is 4 years

So by putting values, we have:

Present value = $4000 / (1 + 6%)^4 Years

Present value = $3,168

3 0
3 years ago
LO 3.5If a firm has a contribution margin of $59,690 and a net income of $12,700 for the current month, what is their degree of
Mamont248 [21]

Answer:

4.7

Explanation:

The computation of the degree of operating leverage is presented below:

= Contribution margin ÷ Net income

= $59,690 ÷ $12,700

= 4.7

where,

Contribution margin = Sales - Variable costs

And, the net income would be

= Sales - Variable costs - Fixed costs

The net income is also known as earning before interest and taxes

5 0
3 years ago
Imagine a linear demand curve graphed with Quantity on the x-axis and Price on the y-axis. We know the middle of the curve is th
Murrr4er [49]

Answer:

A. That's the point where total revenue is maximized

Explanation:

Demand Curve is a downward sloping curve representing inverse  relationship between price & quantity demanded.

Elasticity of Demand is the responsiveness of quantity demanded to price change. It can be measured geometrically on a demand curve point by :

Demand curve segment below the point / Demand curve segment above the point.

This way the elasticity keeps on decreasing as we move downwards on the demand curve [Ed=∞ to Ed >1 to Ed = 1 to Ed < 1 to Ed = 0] i.e [from perfectly elastic to elastic to unitary elastic to inelastic to perfectly inelastic demand].

If Demand is Elastic [Ed >1] : There is negative relationship between price and Total Revenue. This point is on the upper segment of demand curve as per geometric method, P- TR negative relationship implies that TR can be increased by decreasing Price.

If Demand is Inelastic [Ed <1] : There is positive relationship between price &total revenue. This point is on the lower segment of demand curve as per geometric method, P-TR positive relationship implies that TR can be increased by increasing price.

So: The best Total Revenue Maximising point is on the middle of demand curve where demand is unitary elastic [Ed=1] - as any other deviation from this point would create an incentive to change price to generate higher revenue.

3 0
3 years ago
What does difficult to find finance mean?
WARRIOR [948]

a condition or state of affairs almost beyond one's ability to deal with and requiring great effort to bear or overcome. "grappling with financial difficulties"

4 0
3 years ago
Universal Containers would like to remove data silos and connect their legacy CRM together with their ERP and with Salesforce. M
iragen [17]

From the options the two techniques that should be used for smooth interoperability now and in the future are

a. Specify the legacy CRM as the system of record during transition until it is removed from operation and fully replaced by Salesforce.

b. Work with stakeholders to establish a Master Data Management plan for the system of record for specific objects, records, and fields.

Explanation:

Join the legacy CRM and Deal for interested parties are two techniques.

Indicate the conventional CRM as the record system throughout the transition up to Sales force’s removal and replacement.

Creates a comprehensive data management strategy for tracking processes for certain objects, databases, and areas, for stakeholders

What's a legacy process when it comes to CRM?  

An old system mostly based on a customer-server in-house design. The application functions on a SQL Server or Oracle interface. There are one or more different application servers for Windows 2000 or 2003.

MDM (Master Data Management) is used in the sector as a tool for identifying and handling an organization's important data to provide, by data management, a single event of reference. The mastered data can include lookup tables — the collection of allowable values and quantitative data supporting decision-making.

3 0
3 years ago
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