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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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A store purchases televisions from a factory for $\$$87.89 each. The store normally sells one of these televisions for 225$\%$ o
OverLord2011 [107]

Answer:

148.31

Explanation:

The normal price in dollars is (87.89)(2.25), and the 25% discount corresponds to multiplying this result by 0.75. Carrying out the arithmetic, the price is (87.89)(2.25)(0.75) = 148.31.

3 0
3 years ago
Read 2 more answers
In a Cobb–Douglas production function the marginal product of labor will increase if:
KengaRu [80]

Answer:

Option "B" is the correct answer to the following statement.

Explanation:

The rise in the labor workforce would raise the productive output of capital in a specific Cobb – Douglas output method, and it will raise the actual rental price of resources.

The gross amount of capital would also rise in the output of Cobb-Douglas if the volume of labor grows.

Under this function, human capital will help in the production of the product, human capital and marginal production are directly proportionate to each other.

3 0
3 years ago
The money demand function for an economy is given by (M/P)d = (0.6Y)/(i1/2). If output is 1,000 units, the nominal interest rate
DIA [1.3K]

Answer:

$0.6

Explanation:

Nominal interest rate (i) = 9% = 0.09

Output (Y) = 1,000

Money supply(M) = 1,200

==> (M/P)^d = (0.6Y) / i^(1/2)

==> 1200/P = 0.6*1000 / 0.09^(1/2)

==> 1200/P = 600 / 0.3

==> 1200/P = 2000

==> 1200 = 2000 * P

==> P = 1200/2000

==> P = $0.6

Therefore, the price level is $0.6

6 0
2 years ago
In a balanced balance sheet, if liabilities are $2,000 and owner’s equity is $3,300, what must assets be ____?
TEA [102]

Answer:

5300

Explanation:

assets=equitys +liabilities

3 0
2 years ago
The Jabba Corporation manufactures the "Snack Buster" which consists of a wooden snack chip bowl with an attached porcelain dip
Masja [62]

Answer:

The fixed overhead cost that can be eliminated if the bowls are purchased from an outside supplier is a relevant cost. The variable selling cost of the snack is also a relevant cost.

The correct answer is A

Explanation:

Relevant costs are costs that relate to future decisions. All variable costs are relevant for decision-making. Eliminated fixed overhead are also relevant for decision-making.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                

3 0
3 years ago
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