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2 years ago

Summarize how the Peer-to-peer payment process typically works?

Business

1 answer:

andre [41]2 years ago

6 0

Answer:

Peer-to-peer payments are transactions that can be used for anything from splitting a dinner bill between friends to paying the landlord rent. These payments allow the transfer of funds between two parties using their individual banking accounts or credit cards through an online or mobile app.

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Kingston Co. uses the percentage-of-receivables basis to record bad debt expense.

Troyanec [42]

Answer:

Explanation:

The journal entry to record the bad debt expense is shown below:

Bad debt expense A/c Dr $2,700

To Allowance for doubtful debts $2,700

(Being bad debt expense is recorded)

The computation of the bad debt expense is shown below:

= (Accounts receivable × estimated percentage given ) - (credit balance of Allowance for Doubtful Accounts)

= ($420,000 × 1%) - ($1,500)

= $4,200- $1,500

= $2,700

4 0

3 years ago

In a conversation between two parties, a statement like, "What I'm hearing you say . . ." is an example of:

dimaraw [331]

Communication involves both listening and speaking. When you say "What I'm hearing you say" is an example of reflective listening because you are trying to clarify the idea of what the other party is trying to imply. Then listener recaps the message using his own words and tries to give back the speakers idea to confirm if the idea has been understood.

3 0

3 years ago

Cotrone Beverages makes energy drinks in three flavors: Original, Strawberry, and Orange. Company is currently operating at 75 p

yulyashka [42]

Answer:

Yes Strawberry line should be dropped as it reduces the overall profit by$ 3600 when the fixed costs are not 20 %

Yes Strawberry line should be dropped as it reduces the overall profit by$ 1720 even when the fixed costs are 20 %

Explanation:

Cotrone Beverages

Differential Analysis

Totals Totals Difference / Change

including (less) Without (equals)

Strawberry Strawberry

Sales 253,200 167,600 85600 Decrease

Variable costs 201,400 124,200 77200 Decrease

Fixed costs allocated 35,600 28,480 7120 Decrease

Operating profit (loss) 13,200 14,920 (1720) Increase

Working

Total Fixed Costs Reduced will be = 35,600 *20%= 7120

Here we see the profit is increased by 1720 therefore strawberry line should be dropped.

Cotrone Beverages

Differential Analysis

Totals Totals Difference / Change

including (less) Without (equals)

Strawberry Strawberry

Sales 253,200 167,600 85600 Decrease

Variable costs 201,400 124,200 77200 Decrease

Contribution margin 51,800 43,400 8,400 Decrease

Fixed costs allocated 35,600 23,600 12000 Decrease

Operating profit (loss) 13,200 16,800 (3,600) Increase

Yes Strawberry line should be dropped as it reduces the overall profit by$ 3600

Working

We find the totals with and without the strawberry product line and then subtract to find the differential costs

Cotrone Beverages

Product Original Strawberry Orange Total

Sales $65,200 $85,600 $102,400 253,200

Variable costs 44,000 77,200 80,200 201,400

Contribution margin $21,200 $8,400 $22,200 51,800

Fixed costs allocated 9,400 12,000 14,200 35,600

Operating profit (loss) $11,800 $(3,600) $8,000 13,200

If we drop the strawberry line then the new totals would be

Product Original Orange Total

Sales $65,200 $102,400 167,600

Variable costs 44,000 80,200 124,200

Contribution margin $21,200 $22,200 43,400

Fixed costs allocated 9,400 14,200 23,600

Operating profit (loss) $11,800 $8,000 16,800

6 0

2 years ago

What is the effect on total assets and stockholders' equity of paying the telephone bill as soon as it is received each month?

Archy [21]

Answer:

Option C) Decrease in Total Assets , and No Effect on Equity

Explanation:

Telephone bill it's a Current Liability , if you decide to pay it as soon as you receive it you have to use Cash which is part of your Current Asset, so the impact it's a decreased in your Current Assets through the Cash component.

This movement has no impact in the Sotckholder Equity.

6 0

3 years ago

Bramble Corp. has the following accounts at December 31: Common Stock, $11 par, 5,450 shares issued, $59,950; Paid-in Capital in

bonufazy [111]

Answer:

$127,700

Explanation:

Bramble Corp stockholders’ equity section of the balance sheet

Stockholders’ equity

Paid-in Capital

Capital Stock

Common Stock 59,950

Additional Paid-in Stock

Paid-in Capital in Excess of Par Common Stock 33,400

Total paid in Capital 93,350

Retained Earnings 47,000

Total paid in Capital and Retained Earnings 140,350

(93,350+47,000)

LessTreasury Stock 12,650

Total Stockholders’ equity 127,700

(140,350-12,650)

6 0

3 years ago