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Reptile [31]
3 years ago
15

On July 4, Blossom's Restaurant accepts a Visa card for a $150 dinner bill. Visa charges a 2% service fee. Prepare the entry on

Blossom’s books related to the transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
Tpy6a [65]3 years ago
3 0

Answer:

The journal entry is shown below.

Explanation:

According to the scenario, the journal entry for the given data are as follows:

Journal entry

Jul.4 Cash A/c Dr    $147

        Card charges A/c Dr.   $3

        To Sales revenue A/c   $150

(Being card transaction is recorded)

Computation:

Cash = $150 - 2% × $150 = $147

Card charges = $150 × 2% = $3

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Divesting of businesses can accomplish many different objectives, except _______.
Marysya12 [62]

Answer:

(C) dispersing manager focus

Explanation:

Manager focus should be always be.

he analysis and decision about wether to divest or not a division or product line requires the manager focus and the decision taken is done considering all the benefits and downside. Managers understand the cost of a divest and the potential in liberation of company's resouces into other areas or project.

If the manager disper then, they decision won't lead to the better outcome.

3 0
3 years ago
Gypsy just bought a gift and jewelry store on Main Street. She knows from the previous owner that almost 60 percent of her sales
snow_lady [41]

Answer:

Gypsy will probably use a pulsing advertising schedule for promoting her gift and jewelry store.

Explanation:

Pulsing is a type of advertising schedule which is a mixer of flighting scheduling ( type of scheduling where advertising is done at irregular periods ) and continuous scheduling ( a type of scheduling where advertising is done all year around ). In this type of scheduling, heavy advertising is done during the peak season ( like in this question Christmas holiday season is for Gypsy ) and low advertising is done through the rest of the year. Gypsy's products are being sold through out the yer but there is large surge in the sale during Christmas holiday season.

8 0
3 years ago
When a firm can _____ its capital equipment over a shorter period, it cuts its taxes _____. appreciate; later appreciate; now de
Andre45 [30]

When a firm can depreciate its capital equipment over a shorter period, it cuts its taxes now.

A capital asset's value dropping is referred to as capital depreciation. To determine the recovery cost incurred on fixed assets over the course of their useful lives, assets are depreciated. When the asset reaches the end of its useful life or you need to sell it, this is used as a sinking fund to replace it. Depreciation lowers the taxable income, which lowers the tax burden. Capital assets are listed as an asset on the balance sheet and are depreciated over the course of their useful lives. Businesses typically have to spread out the costs of capital investments over a number of years in accordance with predetermined depreciation schedules.

More about depreciation brainly.com/question/15178885

#SPJ4

8 0
2 years ago
Piper, a US citizen owns 100% of the stock of FORco, a foreign manufacturing and sales subsidiary. In 2020, FORco had $10 millio
ss7ja [257]

Answer:

$70000

Explanation:

We have been give in this question that a 100 percent of FORcos share belongs to piper. He owns a 100 percent fully. Piper has to include that which he deposited. 7 million dollars of 2 percent

= 7million dollars x 1 percent

= 7000000 x 0.01

= $70000

So piper has to include in gross income her share of FORcos f income for investment in united states property and this has been calculated as 70000

5 0
3 years ago
You are considering buying a company using leveraged buyout. The company is projected to have sales of 500 million each year in
worty [1.4K]

Answer:

Net income=  $33 million

Explanation:

A leveraged buyout is a buyout of an entity by it's own managers/board members mostly through debt financing. Now the expected sales after the buyout is 500 million, we are asked to calculate net income only in the first year. First of all lets see what net income is. Net income is the remaining amount of income after having paid all the expenses which is mostly the residual income available for either distribution to shareholders or transfer to retained earnings.

The formula for net income is as follows:

Net income/profit= Sales revenue - COGS - Administrative expenses- depreciation and amortization - Interest expense - Tax

Let first calculate COGS & other administrative expense, depreciation and interest expenses first.

COGS & ADMIN: 500*0.6=300 m

Depreciation: 500*0.05 =25m

Interest expense for the year: 1500 * 0.08= 120m

Now lets substitute values in the formula mentioned above:

Income before taxes: 500m - 300m - 25m - 120m

Income before taxes: 55m

Income after taxes; 55m - 22m (taxes= 55*40%)

Net income=  $33 million

4 0
4 years ago
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