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3 years ago

Explain the technique to make change in counter transactions correctly.

Business

1 answer:

dem82 [27]3 years ago

8 0

Answer:

The correct ways to prepare a customer's change over the counter are:

Explanation:

1. In the cash drawer, store each denomination together in a section

2. As you receive cash, straighten them out and arrange them uniformly. Let every bill be faced in the same direction.

3. Deduct the total price of goods bought from the total amount handed to you by the customer.

4. The result from the above calculation is the customer's change.

5. Peek into the cash drawer and neatly pick out the notes or bills that make up this amount.

6. Carefully replace the shifted bills or coins in the drawer.

7. Place your hands on the desk or in sight of the customer and count the change for them to see.

8. Hand it over to the customer!

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On November 1, 20X1, Starbucks paid the rent of $90,000 for 40 of its stores in Colorado and Nebraska. The rent covers the perio

vazorg [7]

Answer:

Part (1) November 1

The amount paid is the rental advances and must be recorded as advances which falls under the current asset category:

Dr Rental Advances $90,000

Cr Bank account $90,000

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The relevant entry would be:

Dr Rental Expenses $36,000

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3 years ago

The problem of a double coincidence of wants refers to A. poorlyminusmanaged companies producing what consumers want only by coi

bija089 [108]

Answer:

D. the necessity in a barter system of each trading partner wanting what the other has to trade.

Explanation:

Double confidence of wants was one of the shortcomings of the barter system.

For example, if someone wants corn and has yam. He has to find someone that wants yam and has corn to trade in order for a trade to occur.

The introduction of money solved this problem.

I hope my answer helps you

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3 years ago

Hillsborough Glassware Company issues $1,061,000 of its 11%, 10-year bonds at 96 on February 28, 2017. The bonds pay interest

valkas [14]

Answer:

Bonds Payable $1,061,000

Discount $38,196

Explanation:

The bond is issued on discount when the bond issuance proceeds are less than the face value of the bond. The discount is expensed over the bond period until maturity. It is added to the interest expense value to expense it.

Discount on the bond = Face value - cash proceeds = $1,061,000 (100%- 96%) = $42,440

According to straight line amortization

Discount charged in the period = $42,440 / 10 = $4,244 per year = $2,122 per six months

Unamortized discount = $42,440 - $4,244 = $38,196

Coupon payment of interest = $1,061,000 x 11% = $116,710 per year = $58,355 per six months

Total Interest Expense = $58,355 + $2,122 = $60,477

The Bond will be reported at its face value.

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3 years ago

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Lady bird [3.3K]

Answer:

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Explanation:

I hope this helps

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3 years ago

When is it appropriate to use composite rate depreciation?

Greeley [361]

When there are large variances in actual economic useful lives among the assets

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