Answer:
All workings and explanations are in the explanation section.
Explanation:
<u>Transaction 1: </u>
<u>Purchased new equipment for $3,350 by issuing a check for $2,100 as a down payment with the balance due in 30 days.</u>
Debit: Fixed asset account - Equipment $3,350
Credit: Bank account $2,100
Credit: Current liabilities - $1,250
<u>Explanation:</u>
- Equipment is a fixed asset, when an asset is increased, it is debited.
- Partial payment was made by bank- bank is a current asset, a decrease to the asset is a credit item.
- The remaining balance is current liability, since payable within 30 days, an increase in liability is a credit item.
<u>Transaction 2:</u>
<u>Returned damaged supplies and received a $105 cash refund. </u>
Debit: Cash - $105
Credit: Supplies - $105
<u>Explanation:</u>
- Cash refund is an increase in cash - current assets, it is a debit item
- Supplies are decreased, and supplies is also a current asset, a decrease in current assets is a credit item.
Transaction 3:
Purchased supplies for $310 on account.
Debit - supplies - $310
Credit - payables - $310
<u>Explanation:</u>
- Supplies are current assets - an increase in supplies is a debit item.
- They are purchased on account means it is a current liability, therefore, an increase in liabilities is a credit item.
<u>Transaction 4:</u>
<u>Provided services for $7,350 on credit.</u>
Debit: Receivable - $7,350
Credit: Sales revenue - $7,350
<u>Explanation:</u>
- Receivables are current assets - an increase in receivables is a debit item.
- Sales revenue is credit item, an increase in revenue is credit.
<u>Transaction 5:</u>
<u>Issued a check for $920 to pay a creditor on account.</u>
Debit - payables - $920
Credit - Bank -$920
<u>Explanation:</u>
- A decrease in creditors is a debit item
- A decrease in bank, is a credit item
<u>Transaction 6:</u>
<u>Issued checks for $3,500 to pay the employees their monthly salaries.</u>
Debit Wages - $3,500
Credit Bank - $3,500
<u>Explanation:</u>
- Wages are an expense. An increase in the expense is a debit item.
- Bank is a current asset, a decrease in bank is a credit item.
<u>Transaction 7:</u>
<u>Issued a check for $320 to pay the monthly telephone bill. </u>
Debit - Utilities -$320
Credit - Bank - $320
<u>Explanation: </u>
- Utilities are an expense. An increase in the expense is a debit item.
- Bank is a current asset, a decrease in bank is a credit item.
Customer retention rate, customer satisfaction, and market share are all the examples of marketing performance.
What is meant by marketing performance?
- Marketing performance is the alignment between goals and objects of marketing team versus actual results. It is measured using metrics and Key Performance Indicators (KPIs), including return on investment, cost per sale, cost per lead, conversion rate, and customer lifetime value.
- The planning and execution of marketing activities are required to happen simultaneously and are under the label of marketing performance.
To read more about marketing performance, refer to :
brainly.com/question/28316044
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Answer:
Functional Obsolescence.
Explanation:
One reason for the difference between the current market value of a building and the total cost to reproduce it is related to changes in tastes, preferences, technical innovations, or market standards, which is commonly referred to as functional obsolescence.
Functional obsolescence can be defined as depreciation in value due to reduction in desirability or functionality as a result of an obsolete design.
This will readily apply to buildings that have to be broken down most times in order to build a new one because their designs are outdated.
Answer:
80
Explanation:
As for the required reserve balance the information is provided as follows:
Total amount deposited by Jose = $400
Provided the reserve balance = 20%
Therefore, reserve balance from this payment = $400 20% = $80.
As it is not specified clearly, that this $400 is inclusive or exclusive of the reserve balance, it is assumed that reserve will be created out of such balance.
Therefore, reserve maintained from this $400 = $80 and the rest $400 - $80 = $320 will be usable freely, without any restrictions.