Answer:
Debit Cash for $1,050; Debit Cash over and short for $9; and Credit Sales for $1,059.
Explanation:
The journal entries will look as follows:
<u>Date Account Title Debit ($) Credit ($) </u>
Sept 1 Cash 1,050
Cash over and short (w.1) 9
Sales 1,059
<em><u> To record cash over and short for the day. </u></em>
Working:
w.1: Cash over and short = Cash recorded - Actual cash collected = $1,059 - $1,050 = $9
Answer:
<u>Total cash receipts = 123,000</u>
Explanation:
September cash receipts:
30% of september sales:
30% of 130,000 = 39,000
70% of August sales (previous month)
70% of 120,000 = 84,000
Total cash receipts = 123,000
Note: We are asked for september collection from sales:
30% of september is in cash, so are colected instantly.
Then the remaining, which are credit sales are canceled in the following month.
So the credit sales of August are collected in the following month, which is september. That's why it is included in the calculation.
July sales are colelcted in July and August, none in september.
Answer:
C) an organizational plurality
Explanation:
A) diversity pairing
B) skill-based diversity
C) an organizational plurality
D) structural accommodation
Answer:
$12,000
Explanation:
total preferred dividends per year = 1,200 x $50 x 5% = $3,000
since they were not paid during the past three years, and they are cumulative, the total preferred dividends = $3,000 x 4 = $12,000
common stock dividends = total dividends - accumulated preferred dividends = $25,000 - $12,000 = $13,000
cumulative preferred stocks that are not paid in the past, must be paid before any common dividends are paid
