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3 years ago

Which of the following would be a good indication that an applicant might be

1 answer:

3 0

Answer: D. A very friendly and engaging personality during the interview that just makes the interviewer like the applicant

Explanation:

To be a great sales associate one skill is paramount, interpersonal skills.

The person needs to be able to relate well with others and this is helped by them having a friendly and engaging personality that draws people to them and makes people like the sales person which will make them more trusting of the goods recommended by the sales person.

The person in option D has this and as such has a better chance of being a good sales associate at the retail store.

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Q 8.17: The financial statements of the Larson Company report net sales of $1,000,000 and accounts receivable of $80,000 and $60

Phoenix [80]

Answer:

25.55 days

Explanation:

first we must calculate the accounts receivable turnover ratio = net sales / average accounts receivable

net sales = $1,000,000

average accounts receivable ($80,000 + $60,000) / 2 = $70,000

accounts receivable turnover ratio = $1,000,000 / $70,000 = 14.286

average collection period = 365 days / accounts receivable turnover ratio = 365 / 14.286 = 25.55 days

8 0

4 years ago

That the total dollar amount of the debits equals the total dollar amount of the credits in the ledger accounts can be verified

daser333 [38]

The answer is:<span>
"Trial Balance"

The full sentence will be as follow:
That the total dollar amount of the debits equals the total dollar amount of the credits in the ledger accounts can be verified through a trial balance.
Trial Balance means a statement with all the debits and credits in an account book along with the mention of any difference showing a mistake.</span>

7 0

3 years ago

On August 1, 20Y7, Rafael Masey established Planet Realty, which completed the following transactions during the month:

Sphinxa [80]

Answer:

a. Dr Cash 17,500

Cr Common Stock 17,500

b. Dr Supplies 2,300

Cr Account payable 2,300

c. Dr Cash 13,300

Cr Sales commission 13,300

d. Dr Rent expense 3,000

Cr Cash 3,000

e. Dr Account payable 1,150

Cr Cash 1,150

f. Dr Dividend 1,800

Cr Cash 1, 800

g. Dr Automobile expense 1,500

Dr Miscellaneous expense 400

Cr Cash 1,900

h. Dr Salaries expense 2,800

Cr Cash 2,800

i. Dr Supplies expense 1,050

Cr Supplies 1,050

Explanation:

Preparation of Journal entry

a. Dr Cash 17,500

Cr Common Stock 17,500

b. Dr Supplies 2,300

Cr Account payable 2,300

c. Dr Cash 13,300

Cr Sales commission 13,300

d. Dr Rent expense 3,000

Cr Cash 3,000

e. Dr Account payable 1,150

Cr Cash 1,150

f. Dr Dividend 1,800

Cr Cash 1, 800

g. Dr Automobile expense 1,500

Dr Miscellaneous expense 400

Cr Cash 1,900

(1,500+400)

h. Dr Salaries expense 2,800

Cr Cash 2,800

i. Dr Supplies expense 1,050

Cr Supplies 1,050

8 0

3 years ago

Sellers allow customers to use credit cards for all of the following reasons: (You may select more than one answer. Single click

Tasya [4]

Answer:

c. seller receives cash sooner than if credit is granted directly to the customers

d. may allow seller to increase sales volume

Explanation:

When a customer uses a credit card, the bank that issued the card pays the seller immediately, and later, the bank recovers the money plus interest from the customer.

So this method allows for a faster collection of cash (basically immediatly) than if the seller granted the credit directly to the customer.

Credit cards also allow seller to increase sales volume because many people lack the cash necessary to pay down the full value of the purchase.

7 0

3 years ago

Gomez runs a small pottery firm. He hires one helper at $11,500 per year, pays annual rent of $7,000 for his shop, and spends $2

madreJ [45]

Answer:

in this problem, we need to calculate Gomez's accounting and economic profit. To do this, let us first classify and list the explicit and implicit costs. Revenue: Sales: $85,000 Explicit costs: Cost of one helper: $18,000 Rent: $8,000 Materials: $24,000 These are the costs that require an outlay of cash. Implicit costs: Opportunity cost of funds invested in equipment: $7,000 Gomez could have invested the funds in another asset that could earn him $7,000 Opportunity cost of working as a potter in his own shop: $20,000 Gomez could have worked as a potter for a competitor that could earn him $20,000. This is the worth of Gomez's skill as a potter. Entrepreneurial talent: $4,000 This is the worth of Gomez's talent in running the business. These costs do not require an outlay of cash. These are the implicit costs. Now, we are ready to calculate both the accounting and economic profit of Gomez. a. Calculate the accounting profit for Gomez's pottery firm. $_ Accounting profit = Total Revenue − Total Explicit Costs Accounting profit = $ 85 , 000 − ( $ 18 , 000 + $ 8 , 000 + $ 24 , 000 ) Accounting profit = $ 85 , 000 − $ 50 , 000 Accounting profit = $ 35 , 000 The accounting profit is equal to $35,000. b. Now calculate Gomez's economic profit. $_ Economic profit = Total Revenue − Total Explicit and Implicit Costs Economic profit = $ 85 , 000 − ( $ 18 , 000 + $ 8 , 000 + $ 24 , 000 + $ 7 , 000 + $ 20 , 000 + $ 4 , 000 ) Economic profit = $ 85 , 000 − $ 81 , 000 Economic profit = $ 4 , 000 The economic profit is equal to $4,000.

8 0

3 years ago