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balandron [24]
3 years ago
14

Jax Recording Studio purchased $7,800 in electronic components from Music World. Jax signed a 60-day, 8% promissory note for $7,

800. Music World's journal entry to record the sales transaction is:
Business
1 answer:
AveGali [126]3 years ago
3 0

Answer:  Debit Notes Receivable          7,800  

Sales(to record sales)   7,800

Explanation:

When a customer signs a promissory note in exchange for commodity then the entry to record sales is recorded by debiting notes receivable.

here,  sales = $7,800 = Debit Notes Receivable  

The entry to record the sales transaction would be

Debit Notes Receivable          7,800  

Sales(to record sales)   7,800

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.Universal Containers users a Hybrid Sharing model where Accounts and Contacts are Read Only and Opportunities and Cases are pri
fiasKO [112]

Answer: Select the edit all associated contacts option for the AE Role in the Role Hierarchy.

Explanation:

The individual should select edit for all the associated contacts option for the AE role in the role hierarchy

6 0
3 years ago
Suppose you invested $60 in the Ishares Dividend Stock Fund (DVY) a month ago. It paid a dividend of $0.63 today and then you so
m_a_m_a [10]

Answer:

The return on investment was 9.38%

Explanation:

Data provided in the question:

Amount invested in dividend stock = $60

Dividend received = $0.63

Amount for which dividend was sold = $65

Now,

The total return from the dividend

= (Selling cost + Dividend received ) - Amount invested

= $65 + $0.63 - $60

= $5.63

Therefore,

The return on investment = [ (Total return ) ÷ Amount invested ] × 100%

= \frac{\$5.63}{\$60} × 100%

= 9.38%

Hence,

the return on investment was 9.38%

3 0
3 years ago
Alpha Co. has cost of goods sold of $77 million, net income of $9.6 million, sales of $120 million, and total assets of $150 mil
Sliva [168]

Answer:

64.17% and 8%

Explanation:

The computation of the percentage is shown below:

For the cost of goods sold, the percentage would be

= (Cost of goods sold ÷ Sales) × 100

= ($77 million ÷ $120 million) × 100

= 64.17%

For the net income, the percentage would be

= (Net income ÷ Sales) × 100

= ($9.6 ÷ $120 million) × 100

= 8%

Simply we put the sales in denominator side and costs of goods sold or net income in numerator side

5 0
3 years ago
Pettit Company reports net income of $90,000 in 2019. However, ending inven- tory was understated $7,000. What is the correct ne
zimovet [89]

Answer:

<em>a)Corrected net income= $97,000</em>

<em>b) Total assets figure is understated.</em>

Explanation:

<em>To arrive at the net income, cost of goods sold is usually deducted from the sales revenue. An cost of sold is determined by subtracting the value of inventory. So an understated inventory would mean an overstated </em><em>cost of goods sold </em><em>and </em><em>understated net income</em>

<em>Correct net income = 90,000 + 7,000</em>

<em>                                 = $97,000</em>

<em>Inventory is part of current assets s reported in the balance sheet . Therefore, if inventory is understated it implies that the current assets figure is understated and therefore the</em><em> total assets figure is understated.</em>

<em />

8 0
3 years ago
The ________________________ is the amount for goods and services that the international assignee is expected to spend in the ho
ahrayia [7]

Answer:

home country spendable

Explanation:

The term that is being mentioned in this question is known as home country spendable. Like mentioned, this is income that represents the specific part of the home-country income that the assignee uses in order to pay the day-to-day purchases, unless the cost of the goods/services is higher in the host location, in which case a compensation package needs to be added.

5 0
3 years ago
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