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frozen [14]
3 years ago
13

Jax Recording Studio purchased $8,200 in electronic components from Music World. Jax signed a 90-day, 10% promissory note for $8

,200. Music World's journal entry to record the sales transaction is:
Business
1 answer:
Hunter-Best [27]3 years ago
6 0

Answer:

World's journal entry to record the sales transaction is:

<em>Note Receivable ; Jax Recording Studio $8,200 (debit)</em>

<em>Sales Revenue $8,200 (credit)</em>

Explanation:

Music World is the seller and must recognize Revenue following the sale.The Revenue is initially recognized at the value of sale of $8,200. Music World must also recognize an Asset on the promissory note signed to the value of $8,200.

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Suppose Mattel, the producer of Barbie dolls and accessories (sold separately), has two types of consumers who purchase its doll
Alla [95]

Answer:

strategy 2

Explanation:

 According to the scenario, computation of the given data are as follow:-

Particular  Revenue from Low-value customers  Add  Revenue from high-value customers Total revenue from strategy

                                           Accessories 1  Accessories 2                        

Strategy 1

($32 doll+$32 accessory) $32 ×1 + $32 × 1      + $32 × 1 + $32 × 2

                                               $32 + $32                      $32 + $64

                                                = $64                          = $96

Total = $64 + $96 = $160

Strategy 2

($3 doll + $61 accessory) $3 × 1 + $61 × 1 + $3 × 1 + $61 × 2

$3 + $61 $3 + $122

= $64 = $125

Total = $64 + $125 = $189

According to the analysis, strategy 2 gives more revenue than strategy 1.

4 0
4 years ago
Anwer owns a rental home and is involved in maintaining it and approving renters. During the year he has a net loss of $8,000 fr
Evgesh-ka [11]

Solution:

(1) Maximum possible $25,000 deduction before phase-out

(2) Maximum deduction phase-out is $22,500

    [($145,000 AGI - 100,000) × 0.5]

(3) Current year overall loss $2,500 (1) - (2)

(4) Rental loss in current year $8,000

(5) Current year leasing deficit of 2,500 dollars, Lesser of (3) or (4)

Passive loss carry forward $5,500 (4) - (5)

8 0
4 years ago
Which of the following is usually true
Simora [160]

Answer:

A

Explanation:

3 0
3 years ago
Michael wanted to build a small princess castle for his daughter in the backyard. He decided to turn it into a do-it-yourself pr
givi [52]

Answer:

C)

Explanation:

He can file a strict liability lawsuit against Big Ben Forts for failure to provide adequate instructions on assembling the product.

4 0
3 years ago
There are three firms in an economy: A, B, and C. Firm A buys $250 worth of goods from firm B and $200 worth of goods from firm
Natalka [10]

Answer: $3,350

Explanation:

GDP is the addition of value of goods and service minus purchase of intermediate goods.

Formula to calculate value-added by each firm is shown below:

Value-added = Sales by Firm + Change in stock – purchase of raw material

Value added by firm A = $5 × 200 + 0 – ($250 + $200)

                                      = $550

Value added by firm B = $7 × 300 + 0 – ($150 + $100)

                                      = $1,850

Value added by firm C = $1,000 + 0 - $50

                                      = $950

Economy's GDP = Value added by firm A + Value added by firm B + Value added by firm C

                           = $550 + 1,850 + 950

                           = $3,350

The value of GDP is $3,350

6 0
3 years ago
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