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My name is Ann [436]
2 years ago
7

Jim's Gymnastics Training's operations for the month of October are summarized as follows: • Provided $5,000 of training to stud

ents. • Received $8,000 cash from students—of which $4,000 is for training provided in October (as billed above), $1,000 is for training to be provided in November, and $3,000 is for training provided in September. • Paid September's gym rental bill of $1,000. Received October's bill of $1,500, but did not pay.Prepare a journal entry.
Business
1 answer:
photoshop1234 [79]2 years ago
4 0

Answer: These transactions can be journalised as follows :-

Explanation:

1. Receivables A/C Dr. 5000

      To  revenue A/C    5000

  ( Being paid for training of students)

2a. Cash A/C Dr. 4000

             To Receivables  A/C    4000

    (Being 4000 provided in october)

2b. Cash A/C Dr. 1000

             To Receivables  A/C    1000

    (Being 1000 recieved for training)

2c. Cash A/C Dr. 3000

             To Receivables  A/C    3000

    (Being 3000 recieved for training)

3a. Accounts payable A/C Dr. 1000

                          To cash   A/C    1000

    (Being 1000 provided for rental bill of september)

3b.  Rental expense A/C Dr. 1500

                          To accounts payable   A/C    1500

    (Being 1500 provided for rent bill in october)

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Java Joe operates a chain of coffee shops. The company pays rent of $20,000 per year for each shop. Supplies (napkins, bags and
lukranit [14]

Answer:

The correct answer is Variable Cost.

Explanation:

According to the scenario, the rent and manager salary is fixed, so, it is under fixed cost.

Whereas, Cost of supplies ( i.e. napkins, bags and condiments) are variable according to the number of customer. As the number of customer increases, cost of supply also increases and as the number of customer decreases, cost of supply also decreases.

This type of cost is known as Variable cost,

Hence, The cost of supply is Variable cost in the given scenario.

7 0
2 years ago
Imagine that you are an executive at a large bank. You have been tasked with overseeing your company's implementation of an enti
Afina-wow [57]

Answer:

My straight answer is you need a Diverse team with somewhat a high level of management with Gain Sharing Program as the incentive programme.

Explanation:

Since the question is long, I'll make it shorter. The team is New, the goal is wide, the team's autonomy (working independence) is not much strong.

A Diverse team is required as the set of tasks needed to be done requires different skill sets. (like law, tax, etc.)

Although the team is highly talented, they are new and not much experienced. So, a high level of management is required at the beginning until the team stabilizes.

Since its a new and diverse team, team spirit has to be established. An unfitting rewarding system could be the very beginning of various conflicts, trust issues and jealousy among peers in the group. Eventually destroying the team altogether.

Gain Sharing program mainly focus on improving the team productivity through participation, involvement and creative innovation. Eventually the entire team's productivity goes up and then the entire team is rewarded.

5 0
2 years ago
A factor held constant to test the relative impact of the independent variable is known as a:
PSYCHO15rus [73]
The constant in a system is the control. 
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2 years ago
Read 2 more answers
26 Your company expects to receive 5,000,000 Japanese yen 60 days from now. You decide to hedge your position by selling Japanes
Nostrana [21]

Answer:

$47,500

Explanation:

The computation of the dollars amount received for the 5,000,000 yen is shown below:

= Expected yen receivable × forward rate

= 5,000,000 × $.0095

= $47,500

To find out the dollar amount we multiply the Expected yen receivable  with the forward rate so that accurate value can come. And, we ignored the current spot rate and the turns out spot rate

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2 years ago
Adrianna works as a purchasing manager at a trading firm and earns a salary of $60,000. She has deductions of $3,000 and tax cre
Musya8 [376]

Adrianna's salary $60,000

She has deductions of $3,000

Tax credits of $5,000

Annual tax of $6,000

What is her annual disposable income?

To solve, subtract all the deductions or money leaving her salary and add the credits she receives yearly.

$60,000 - $3,000 = $67,000

$57,000 + $5,000 = $62,000

$62,000 - $6,000 = $56,000

Adrianna's annual disposable income is $56,000.

6 0
2 years ago
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