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galben [10]
2 years ago
9

Brinker accepts all major bank credit cards, including First Savings Bank's, which assesses a 2.5% charge on sales for using its

card. On May 26, Brinker had $4,800 in First Savings Bank Card credit sales. What entry should Brinker make on May 26 to record the deposit?
Business
1 answer:
omeli [17]2 years ago
6 0

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $4,680

Credit card expenses A/c Dr $120     ($4,800 × 2.5%)

        To Sales $4,800

(Being the deposit is recorded and the remaining balance is debited to the cash account)

We debited the cash and the credit card expenses account and credited the sales account so that proper entry would be recorded.

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Carlos Naturals manufactures bulk quantities of cleaning fluids. The company currently sells 700 containers a month at a sales p
alina1380 [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

The company currently sells 700 containers a month at a sales price of​ $24 per unit. The addition of a new disinfectant will result in a sales price of​ $26 per unit for the improved product. It would cost a total of​ $4,000 per month to alter.

First, we need to calculate the current sales level:

Sales= 700*24= $16,800

Now, we can calculate the new income:

Sales= 700*26 - 4,000= $14,200

It is more convenient to not apply the disinfectant.

7 0
2 years ago
Direct Materials Used, Cost of Goods Manufactured In September, Lauren Ashley Company purchased materials costing $200,000 and i
kirill115 [55]

Answer:

(a) $190,000

(b) $635,000

(c) $625,000

Explanation:

(a) Cost of material Consumed:

= Opening Stock of material + Purchases - Closing Material

= $1,20,000 + $200,000 - $130,000

= $190,000

(b) Total Manufacturing cost:

= Direct Material + Direct labor + Overhead

= $190,000 + $120,000 + $325,000

= $635,000

(c) Cost of goods manufactured:

= Total Manufacturing cost + Work in progress Beginning -  Work in progress End

= $635,000 + 80,000 - 90,000

= $625,000

8 0
2 years ago
For a project, the following earned value data have been assessed: AC: $ 4,000,000 CV: $ -500,000 SPI: 1.12 BAC: $ 9,650,000 Wha
Morgarella [4.7K]

Answer:

The BCWS is also known as Planned Value (PV).

So, in this way, <em>PV = 3.125.000</em>

Explanation:

With the data we can obtain the PV as follows:

First, let's calculate EV as EV = CV + AC.

EV = -500.000 + 4.000.000 = <em>3.500.000</em>

After this, we can calculate PV with this formula: SPI = EV/PV

PV = EV/SPI

PV = 3.500.000/1.12 = <em>3.125.000</em>

<em />

<em>We can conclude, with these results, that the project actually is forward about the schedule but with an overcost about the budget. In other words, the project advance must be 41%  but now is on 36% due to the negative variance on the costs (CV).</em>

<em />

7 0
2 years ago
You are the manager of a firm that competes against four other firms by bidding for government contracts. While you believe your
hodyreva [135]

Answer: $1,000

Explanation:

Given Data;

Total government demand is Q = 800 -10P

marginal cost (Mc) = $50

contracted price (cp) = $70 per unit

Therefore;

Marginal Revenue ( MR ) = Marginal Cost ( MC)

Q = 800 -10P

800 - Q = 10P

Divide through by 10, where Q = 1

800/10 - 1/10 = P

80 - 0.1Q = P

Total Revenue(TR) = PQ

TR = 80 - 0.1Q

MR = MC

where MC = $50

80 - 0.1Q = 50

Collecting like terms

80 - 50 = 0.1Q

30 = 0.1 Q

Divide both side by 0.1

Q = 300

Price would be

P = 80 - 0.1Q

P = 80 - 0.1(300)

P = $50

MC = 40

Producing Q units

Total Cost (TC ) = 40 * ( 300 )

= $12,000

Total profit

= TR - TC

= ( P * Q ) - $12,000

= ( $50 * 300 ) - $12,000

= $15,000 - $12,000

= $3,000

Changes caused by regulations

Contracted price = $70

Quantity = 100Units

TT’ = ( P * Q ) - TC

= ( 70 * 100 ) - ( 50 * 100 )

= $7,000 - $5,000

= $2,000

TT - TT’ = $ ( 3000 - 2000 )

= $1,000

If legislation is passed all profit would reduce by $1,000

3 0
2 years ago
Bryan searched for a new bank prior to filling out his direct deposit form at his new employer. He noted that 2-4-7 Bank offered
VikaD [51]

Answer:

2-4-7 has low operating costs

Explanation:

The 2-4-7 bank must be an online bank only. Online-only banks provide banking services, just like traditional banks. However, they offer higher interest rates to their customers as compared to traditional banks.

Online-only banks do not require branches to serve customers; neither do they do not need to hire a large number of employees. Their transactions are done via the internet. An online-only bank, therefore, has low operating costs as it does not pay rent for several branches and has a lean staff. Online banks pass the benefits of low operating costs to customers in the form of higher interest rates.

Online-only banking is a new concept in the banking industry. Online banks are using high interest rates to popularize the concept and attract customers.

4 0
2 years ago
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