All categories

3 years ago

May 24 Sold merchandise on account to Old Town Cafe $18,450. The cost of goods sold was $11,000.

Business

1 answer:

zubka84 [21]3 years ago

7 0

Answer:

Date General Ledger Debit Credit

May 24 Accounts Receivable-Old Town Café $18,450

Sales $18,450

Cost of goods sold $11,000

Inventory $11,000

Sept. 30 Cash $6,000

Allowance for Doubtful Accounts $12,450

Accounts Receivable-Old Town Cafe $18,450

Dec. 7 Accounts Receivable-Old Town Cafe $12,450

Allowance for Doubtful Accounts $12,450

Cash $12,450

Accounts Receivable-Old Town Cafe $12,450

You might be interested in

Provide an example of a real-world industry or market that would be described by economists as perfectly competitive. (hint: wha

Leona [35]

A perfectly competitive market is a market where all competitors are very small businesses, supply prices are perfectly elastic, all goods sold are the same(no branding), abnormal profits can only be made in the short run
Perfect competition is a theoretical model so there is no real world example in our world an example I find easy is the milk market since the good is the same no matter the brand and the amount of branding is minimal and there is usually a good amount of competitors in a country

7 0

3 years ago

Isabella was hit by a car while she was walking on the road and sustained minor injuries. She filed a case against the car drive

Y_Kistochka [10]

Answer:

B) Individual differences in perception

Explanation:

We all perceive things differently than other people, or in other words, we all see thing differently than other people. Depending on our mood and where we actually are, we perceive things differently. We also have the tendency to fill in blanks with some preconceived ideas, e.g. a person that suffered a prior accident will immediately imagine an action sequence resembling their own experience and will combine it with what they actually saw.

8 0

3 years ago

U.S. GAAP for long-lived assets significantly impedes rate-of-return comparisons across companies unless the firms:

kap26 [50]

Answer: Apply the same depreciation methods and the same useful lives among similar groups of assets

Explanation:

US GAAP for long-lived assets significantly impedes rate-of-return that is, the annual income from an investment which is being expressed as a proportion of the original investment comparisons across companies unless the firms apply the same depreciation methods and also the same useful lives are applied among identical groups of assets.

6 0

3 years ago

What is the moral hazard problem?a. The problem that managers of a financial firm will take on riskier investments because they

s344n2d4d5 [400]

Moral Hazard occurs when a person increases its exposure to risk because someone else bears the the cost of those risk(Insurance companies)

Explanation:

Moral Hazard usually occurs when their is information asymmetry,the risk taking party has more information than the risk incurring party.

The financial crisis of 2008 is the best example of the Moral Hazard Problem.

The Moral Hazard Problem arises because the managers of the financial firm took over riskier investments because they believed that the federal government will save them from the bankruptcy.

3 0

3 years ago

A technician wants to boot from an esata external hard drive. which submenu item is used?

Alika [10]

<span>The first boot device option is used. In the startup of the computer, going to this menu will allow the user to select which device will be accessed first, second, and third. By doing so, the user can override the basic setting of the internal hard drive and have the system check the external drive first.</span>

6 0

3 years ago