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LenaWriter [7]
2 years ago
9

July 31: during july, ps music provided guest disc jockeys for kxmd for a total of 115 hours. the contract requires ps music to

provide a guest disc jockey for 80 hours per month for a monthly fee of $3,600, which ps music has already received payment for. any additional hours beyond 80 will be billed to kxmd at $40 per hour.
Business
1 answer:
Cloud [144]2 years ago
5 0

Answer:

The journal entries to record service revenue during July should be:

Dr Cash 3,600

    Cr Service revenue (80 hours per month) 3,600

Dr Accounts receivable [(115 - 80 hours) x $40] 1,400

    Cr Service revenue 1,400

Since the company has collected only the regular hours provided according to the contract, the remaining hours should be recorded as accounts receivable.

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A company's gross profit was $118,350 and its net sales were $466,300. its gross margin ratio equals:
ladessa [460]

The gross margin ratio is a percentage resulting from dividing the amount of a company's gross profit by the amount of its net sales. In this case it would be 118,350/466,300 = 25.38%

3 0
3 years ago
Which financial institution is known as a cooperative association?
Serhud [2]

Answer:

<em>Credit Unions</em><em> </em>is known as a cooperative association.

hope it helps!

5 0
3 years ago
What is the best definition of a conclusion?​
vfiekz [6]

Answer:

<em>The</em><em> </em><em>best</em><em> </em><em>definition</em><em> </em><em>for</em><em> </em><em>conclusion</em><em> </em><em>is</em><em>.</em><em>.</em><em>.</em><em>.</em><em> </em><em>the</em><em> </em><em>end</em><em> </em><em>if</em><em> </em><em>if</em><em> </em><em>something</em><em> </em><em>or</em><em> </em><em>it</em><em> </em><em>i</em><em>s</em><em> </em><em>about</em><em> </em><em>to</em><em> </em><em>end</em>

<em>Hope</em><em> </em><em>this</em><em> </em><em>helped</em>

5 0
3 years ago
The required reserve ratio is 0.05. If the Federal Reserve buys​ $1,000,000 worth of bonds from a bond dealer who has her accoun
Radda [10]

Missing information:

total deposits in bank XYZ = $4,000,000

total reserves = $3,800,000

Answer:

the required reserve = $250,000

excess reserves = $4,550,000

Explanation:

required reserve ratio = 5%

the Fed buys $1,000,000 worth of bonds

the $1,000,000 are deposited entirely in bank XYZ

total checkable deposits will increase to $5,000,000

the required reserve = $5,000,000 x 5% = $250,000

excess reserves = total checkable deposits - total loans - required reserves = $5,000,000 - $200,000 - $250,000 = $4,550,000

5 0
3 years ago
Natalle's parents keep pushing her to find a job, but she has not had much luck. She spends her time searching the Internet for
gizmo_the_mogwai [7]

Answer:

C

Explanation:

So what we can infer is that Natalle is really lazy when looking for a job. Now, we can also infer that her friends and her parents push her to get a job, but she will not go, which is why she rarely goes to interviews for one. When she does, however, just as mentioned here, she showed up half an hour late. So, I am not saying that she should blame her friends for herself being late, but out  of all of the choices, this seems the most logical for the following reasons:

A- Her Friends Have Jobs (Wrong)

B- Person-blame happens ALL of the time, not rarely. (Wrong)

C- The only logical answer (still not ok to blame people) (Correct)

D-There is plenty of info. (Wrong)

7 0
3 years ago
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