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Damm [24]
2 years ago
13

Bob Neff, owner of an automotive dealership, pays one of his salesmen, Mike, a $1,300 draw per week plus 6% on all commission sa

les. Mike sold seven cars over the four-week period, totaling $186,900 for the month. Mike's commission after the draw is:
Business
1 answer:
Dmitriy789 [7]2 years ago
5 0
The correct answer is 11 1/3. Hope this helps.<span>
The mixed number would be 11 1/3. This is because 3 goes into 34 11 times. 3 multiplied by 11 would equal 33. You have 1/3 left over after , so you get 1/3.</span>
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Demski Company pays its employees on the 1st and 15th of each month. It is March 31 and Demski is preparing financial statements
Elden [556K]

Answer:

Explanation:

In the given transaction, it would impact the income statement and the balance sheet in the increment manner

That means The income statement would increase by $96,000 as it reflect the wages expense in the debit side of the income statement

And, the balance sheet would increase by $96,000 as it reflect the wages payable in the credit side of the balance statement under the current liabilities side of the balance sheet

6 0
2 years ago
At the beginning of the current period, Oriole Company had balances in Accounts Receivable of $191,500 and in Allowance for Doub
Dmitriy789 [7]

Answer:

The Journal entries are as follows:

(a) (i) Accounts receivable A/c    Dr. $782,000

To sales revenue                                           $782,000

(To record sales)

(ii) Cash A/c   Dr. $697,920

To Accounts receivable       $697,920

(To record receipt)

(b) Allowance for doubtful accounts    Dr. $6,591

To Accounts receivable                                           $6,591

(To record the write-off of uncollectible accounts)

(c) (i) Accounts receivable A/c    Dr. $2,948

To Allowance for doubtful accounts               $2,948

(To reinstate account previously written off)

(ii) Cash A/c         Dr. $2,948

To Accounts receivable        $2,948

(To record receipt)

(c) Bad debt expense [$23,400 - $6,197] A/c    Dr.  $17,203

To Allowance for doubtful accounts                                    $17,203

(To record bad debt expense for the period)

Ending balance in accounts receivables:

= Opening balance + sales on account during the period - Collection during the period - write off during the period

= $191,500 + $782,000 - $697,920 - $6,591

= $268,989

Allowance for doubtful accounts unadjusted balance:

= $9,840 + $2,948 - $6,591

= $6,197

Ending balance in Allowance for Doubtful Accounts = $23,400

7 0
2 years ago
Managerial accounting differs from financial accounting in several areas. Specify whether each of the following characteristics
ANTONII [103]

Answer:

A is not Managerial accounting the correct answer is  Financial accounting

8 0
2 years ago
Maria is a spare parts manager with Torque Engines Industries. She collects the sales data for different engine parts and integr
algol13

Answer:

B

Explanation:

Diverger is one of Kolb's theory of learning where the learner relies on a wide experience and detailed observation in order to extract useful information towards decision making,

This style of learning entails gathering of related evidences from different sources in order to get a bigger picture of a particular situation, as he believes he will get an in depth analysis of situation through that.

4 0
2 years ago
You run a school in Florida. Fixed monthly cost is $5,371.00 for rent and utilities, $5,502.00 is spent in salaries and $1,071.0
oee [108]

Answer:  You will be indifferent when the total number of student is 20 (approx).

Explanation:

Let the number of student be x

Total profit from first operation:

= Charge per student × x - rent - salaries - insurance - Students stationary

= 725x - 5,371 - 5,502 - 1,071 - 99x

= 626x - 11,944

Total profit from second operation:

= Charge per student × x - rent - salaries - insurance - Students stationary

= 1169x - 10,110 - 6,928 - 2,339 - 177x

= 992x - 19377

At point of indifference,

Profit from first operation = profit from second operation

626x - 11,944 = 992x - 19377

366x = 7,433

 x = 20.30 or 20 (Approx)

Hence, you will be indifferent when the total number of student is 20 (approx).

6 0
2 years ago
Read 2 more answers
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