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2 years ago

Cost of goods sold for a merchandising company, direct materials and commissions are all examples of

1 answer:

8 0

For a merchandising company, the cost of goods sold, direct materials, and commissions are variable costs.

<h3>What is a variable cost?</h3>

A variable cost is the cost element that remains constant per unit while the total changes. Other examples of variable costs include direct labor, variable selling and administrative expenses, including commissions and shipping costs.

Thus, for a merchandising company, the cost of goods sold, direct materials, and commissions are all examples of variable costs.

Learn more about variable costs here: brainly.com/question/5965421

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The journal entry for the collection of the notes is A. Debit Cash 4,000; Credit Accounts Receivable 4,000 B. Debit Cash 3,018;

Setler79 [48]

Answer:

The correct answer is B. Debit Cash 3,018; Credit Notes Receivable 3,000, Credit Interest Revenue 18

Explanation:

The question is incomplete as it only stated the requirement of the question. However, option B above is the closest answer because the company applies the accrual method of accounting, that was why a note receivable was established. The appropriate journals are:

Debit Cash $3,018

Credit Note receivable $3,000

Credit Interest receivable $18

(Recognition of payment of note receivable with interest)

Note receivable is a promissory note with a written promise made by the borrower to the lender (payee) to pay a certain, definite sum at a specified date.

Interest revenue on the notes is calculated as: Principal x Interest Rate x Time

You can use the formula above to arrive at the interest revenue as: $3,000 x Interest rate%/12 x No of months = $18.

Note that the company can accrue for the interest revenue on a monthly basis and not necessarily wait till collection period before recognizing it. Monthly interest revenue recognition would be:

Debit Interest receivable $XXX

Credit Interest revenue $XXX

(Monthly interest revenue recognition on note)

6 0

3 years ago

Manager Mike offered incentives, allowed his employees to voice their opinions, and communicated positive messages. How do these

Soloha48 [4]

The action performed by Manager Mike to his employee does helps to increase the group morale

Group morale refers to the overall level of enthusiasm and dedication within the group towards tasks and organizational goals.

The action which includes giving incentives, allowing employees to voice their opinions and communication of positive messages all increases the group morale.

In conclusion, the action performed by Manager Mike to his employee does helps to increase the group morale.

Read more about group morale:

brainly.com/question/1259286

4 0

3 years ago

Over the first four years of a company's life, it earned the following net income (loss):______.

Gelneren [198K]

Answer:

$700

Explanation:

The computation of the average dividend amount paid is as follows:

Total net income for first four years is

= $6,000 + $4,000 + $7,000 - $3,000

= $14,000

And, the ending retained earning balance after 4 years is $11,200

So, the dividend payment would be

= $14,000 - $11,200

= $2,800

For per year it would be

= $2,800 ÷ 4 years

= $700

5 0

3 years ago

You could borrow money from friends and family who would like to invest in your business, or you could offer them ________. equi

kolezko [41]

The answer is equity.

4 0

3 years ago

Which term refers to the target toward which the open management system is directed?

ipn [44]

The correct answer is organizational objectives

Organizational objectives are the targets toward which the open management system is directed. 
Organizational objectives are derived from the organization’s Mission and Vision. An organization that is
accomplishing its objectives, is also simultaneously accomplishing its purpose and thereby justifying its reason for existence(mission)

6 0

4 years ago