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Cloud [144]
3 years ago
11

A store accidentally priced an item at $20 instead of $30 and honored the mispricing. where should the $10 difference

Business
1 answer:
dimulka [17.4K]3 years ago
4 0

Answer:

The difference is attributed to sales.

Explanation:

The difference of $10 will be attributed to sales because $20 is charged instead of $30 which means selling price has been changed. However, it cannot be considered as a loss because the cost price is not given. It might be the actual cost price for the item is $15 and the store is selling at $20 instead of $30. So, in this case, the store is making a profit of $5. Thus, the difference is considered as the sale difference.

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On February 15, Jewel Company buys 7,300 shares of Marcelo Corp. common stock at $28.56 per share plus a brokerage fee of $400.
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Answer:

A. Debit Cash $8,614; credit Dividend Revenue $8,614.

Explanation:

The journal entry for recording the dividend as on April 15 is shown below:

On April 15

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       To Dividend revenue $8,614

(Being the dividend is recorded)

For recording this here we debited the cash as it increased the assets and credited the dividend revenue as the revenue is also increased

Therefore the correct option is A.

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In a balanced balance sheet, if liabilities are $2,000 and owner’s equity is $3,300, what must assets be ____?
TEA [102]

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3 0
2 years ago
Please list all technical and software knowledge and skills:
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Answer:

net incremental cost = $ 2.2

Explanation:

Data provided:

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