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Fofino [41]
3 years ago
15

Question 7 (10 points) A company received cash sales of $15000. They also collected $43000 in receivables during the month. Answ

er questions 4 to 6 with this information. 6. If the sales received were all made by credit cards with a fee of 1.25%, what would be the journal entry for cash? Question 7 options: 187.50 Credit 187.50 Debit 14,821.50 Credit 14,821.50 Debit
Business
1 answer:
MrMuchimi3 years ago
7 0

Answer: Debit 14,821.50

Explanation:

The following information can be gotten from the question:

Cash sales = $15000

Receivables = $43000

Since the sales received were all made by credit cards with a fee of 1.25%, the journal entry for cash will be calculated as:

= $15000 - (1.25% × $15000)

= $15000 - (0.0125 × $15000)

= $15000 - $187.50

= $14812.50

The journal entry for cash will be a debit of $14812.50

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The correct answer is the firm's component cost of debt for purposes of calculating the wacc is  7.32%. 
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an analyst gathered the following data about a company: 1,000 common shares are outstanding (no change during the year). net inc
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The company's diluted earnings per share is $4.09

<h3>What is Diluted Earnings per share?</h3>

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8 0
1 year ago
"In evaluating a recently implemented positioning strategy, a company s marketing department notes that since the strategy was p
andreyandreev [35.5K]

Answer: Do nothing and continue to monitoring implementation

Explanation:

 According to the given question, in an organization the marketing department notes that the implementation of the positioning strategy in the company increases the average amount of spending as per the transaction that is reduce.

 The main objective of monitoring implementation is that it effectively monitor the ongoing process and also analyzing the given data on the basis of the given situation.  

 In this type of situation the company continues start monitoring implementation as it helps in evaluating the given data or information systematically and measuring the efficiency of the management.

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8 0
3 years ago
Which of the following depicts the proper sequence of steps in the accounting cycle?
ycow [4]

Answer:

Option D. Prepare a trial balance, prepare adjusting entries, prepare financial statements

Explanation:

The accounting cycle sequence is given as under:

  1. Analyzing the business
  2. Journalize the Transactions
  3. Post to Ledger Accounts
  4. Prepare a Trial Balance
  5. Posting adjusting entries and Preparing an adjusted trial balance
  6. Preparing the financial statements
  7. Journalize and post closing entries
  8. Prepare a post closing trial balance and financial statement

So we can see that the three steps highlighted above are the sequence shown in the option D. Hence option D is correct.

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3 years ago
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Increasing and decreasing money supply
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3 years ago
Read 2 more answers
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