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Vedmedyk [2.9K]
4 years ago
14

At the end of business on September 1, the total displayed on the cash register tape shows $1,059 of cash sales for the day. How

ever, when the clerk and the supervisor count the cash in the register, the count reveals that $1,050 was actually collected from customers. Complete the following journal entry by selecting the account names and dollar amounts from the drop-down menus.(D) Cash $1050(D) Cash Over and Short $9(C)Sales $1059
Business
1 answer:
Oksi-84 [34.3K]4 years ago
6 0

Answer:

Dr Cash 1,500

Dr Cash short and over 9

    Cr Sales revenue 1,509

Explanation:

Cash short and over is used to adjust any small amount of cash missing after physically counting the cash. It is also used when there is a small amount of extra cash , for example, instead of $1,509, you would have received $1,512. The function of this account is to adjust and balance the transaction.

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A seller wants to break even after the broker’s commission of 5% and loan balance of $300,000 are paid. At what price must the h
zhuklara [117]

At $315,789 the house must be sold after taking into consideration the broker's commission.

<h3>What do you mean by broker’s commission?</h3>

A broker’s commission is a brokerage firm employee who is compensated for the number of trades they execute for clients.

These brokers typically earn a percentage of the assets traded by their clients, which means that the more a client trades, the more money they make.

In order to calculate the selling price, we have to start with 100% minus a 5% commission, which is 95% or .95.

Take $300,000 and divide this amount by .95.

This will give the amount or the price at which we can sell the house which is $315,789.

Thus, At $315,789 the house must be sold after taking into consideration the broker's commission.

To learn more about  broker's commission refer:

brainly.com/question/14838861

#SPJ1

3 0
2 years ago
What is the total stockholders' equity based on the following account balances? Common Stock $375,000 Paid-in-capital in excess
maks197457 [2]

Answer: $640,000

Explanation:

The total Stockholders Equity for a company is calculated by;

= Common Stock + Paid-in-capital in excess of Par + Retained Earnings - Treasury Stock

Treasury Stock reduces stockholder equity as the company bought the shares back from the stockholders.

= 375,000 + 90,000 + 190,000 - 15,000

= $640,000

8 0
4 years ago
Morocco desk co. purchases 6,000 feet of lumber at $6 per foot. The standard price for direct materials is $5. The entry to reco
Natali [406]

Answer:

Option (a) is correct.

Explanation:

Given that,

Lumber purchased = 6,000 feet

Cost per foot (actual price) = $6

Standard price for direct materials = $5

Cost of purchasing material:

= Quantity of lumber purchased × Price per foot

= 6,000 × $6

= $36,000

Direct materials price variance:

= (Standard Price - Actual Price) × Actual Quantity purchased

= ($5 - $6) × 6,000

= $6,000 Unfavorable

Therefore, the journal entry is as follows:

Direct Materials  A/c Dr. $30,000

Direct Materials Price Variance A/c Dr. $6,000

                To Accounts Payable            36,000

(To record the purchase and unfavorable direct materials price variance)

7 0
3 years ago
If a brand or company is trying to repair a damaged reputation with the people it serves, its strategic efforts in digital marke
Minchanka [31]

Answer:

C. Favorability.

Explanation:

Digital marketing can be defined as an application of a wide range of channels or medium such as mobile devices, internet, social media, software applications, search engines, and a variety of electronic channels to reach out to consumers and potential buyers.

If a brand or company is trying to repair a damaged reputation with the people it serves, its strategic efforts in digital marketing would align with favorability.

Favorability in digital marketing tends to measure the relationship between a business and its customers. The main purpose is to create affinity for a business or making customers feel positive towards a business after viewing an advert.

4 0
3 years ago
Ever since e-commerce started rising in prominence, the value of the retail showroom has diminished significantly. After all, co
kaheart [24]

<u>Explanation:</u>

a. Formerly, these manufacturers have to provide storage space to display their inventory of mattresses, however, online retail sellers have taken up this activity by holding the various sizes of the available inventory, and then simply display them on photos/videos on their website.

b. No. The decision to purchase a car direct from the manufacturer without seeing the product in person or testing the product isn't the most preferred option for many, however, an expensive refrigerator could be purchased without seeing or testing it out. Usually, the following factors are considered:

  • Would this product match the description stated?
  • Would the cost of return be worth it if there happens to be a problem with the product?

4 0
3 years ago
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