Please choose A, B, C, or D

Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 4% charge on sales for using its c

eduard

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $6,240

Credit card expense A/c Dr $260 ($6,500 × 4%)

To Sales A/c $6,500

(Being the deposit is recorded)

For recording the deposit, we debited the cash account, credit card expense and credited the sales account so that the proper posting can be done.

0 0

3 years ago

Documents in a voucher system

amid [387]

Answer: 1 E, 2 C, 3 A, 4 F, 5 D, 6 B

Explanation:

Purchase requisition - A document used by department managers to inform the purchasing department to place an order with a vendor.

Purchase order - A document used to place an order with a vendor that authorizes the vendor to ship ordered merchandise at the stated price and terms.

Invoice - An itemized statement of goods prepared by the vendor listing the customer's name, items sold, sales prices, and terms of sale.

Receiving report - A document used to notify the appropriate persons that ordered goods have arrived, including a description of the quantities and condition of the goods.

Invoice approval - A checklist of steps necessary for the approval of an invoice for recording and payment; also known as a check authorization.

Voucher - An internal file used to store documents and information to control cash disbursements and to ensure that a transaction is properly authorized and recorded.

4 0

3 years ago

You bought a car for $17,250. You put down $3,000 cash and have to take a loan out to pay for the rest. The car dealership is of

LuckyWell [14K]

Answer:

Interest will be $855 x 10 years= $8,550

Explanation:

Interest

6÷100=0.06

0.06x14,250=$855

$855x10=$8,550.

How much to have paid back

At the end of 10years $8,550 would have been paid as interest

Total sum will be $14,250+$8,550=$22,800 to be paid back.

8 0

3 years ago

purchased a new piece of equipment for its research lab on January 1, 2015 for $45,200. The equipment is expected to have a usef

Murljashka [212]

Answer:

The gain recognized on the equipment is $6,550

Explanation:

A straight-line depreciation method distributes depreciation costs evenly throughout the useful life of the equipment, and depreciation per year using this method is calculated thus:

Depreciation per year = (Cost of equipment - salvage value) ÷ useful life

= (45,200 - 6,100) ÷ 4 = 39,100 ÷ 4 = $9,775

This means that each year, the machine depreciates by a value of $9,775.

Next, we are given that the machine was sold for $32,200 after two years, to determine if a profit or loss was made, we will calculate the expected residual value after two years, and find the difference between this value and the selling price. The residual value is calculated thus:

Residual value = Cost of equipment - (depreciation per year × number of years used)

Residual value = 45,200 - ( 9,775 × 2 )

Residual value = 45,200 - 19,550 = $25,650

Difference between residual value and selling price = 32,200 - 25,650 = $6,550 (profit was made since the selling price was higher than the value of the equipment)

8 0

3 years ago

Suppose that you deposit $4,500 in your bank and the required reserve ratio is 18 percent. the maximum loan your bank can make a

NNADVOKAT [17]

Suppose that you deposit $4,500 in your bank and the required reserve ratio is 18 percent. The maximum loan your bank can make as a direct result of your deposit is 3690.

<h3>What exactly is a bank loan and the required reserve ratio?</h3>

A loan is a quantity of money that one or more people or businesses obtain from banks or other financial organizations in order to handle their finances in connection with anticipated or unforeseen circumstances.
By doing this, the borrower creates a debt that must be repaid with interest within a predetermined time frame.
The percentage of deposits that authorities mandate a bank maintain in reserves and refrain from lending out is known as the required reserve ratio.
If the required reserve ratio is 1 to 10, a bank can only lend out $0.90 of every dollar it has on deposit, but it must retain $0.10 in reserves.

Hence, The maximum loan your bank can make as a direct result of your deposit is 3690.

To learn more about the loan, refer to the following link:

brainly.com/question/25599836

#SPJ4

6 0

1 year ago