Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Ayayai Corp. accepted a Visa card in payment of a $2,400 lunch bill. The bank charges a 4% fee. What entry should Ayayai Corp. make? (b) Splish Brothers Inc. sold its accounts receivable of $59,400. What entry should Splish Brothers Inc. make, given a service charge of 4% on the amount of receivables sold?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Ayayai ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The following information pertains to an inventory item: Cost $12.00 Estimated selling price 13.60 Estimated disposal cost. 20 Normal gross margin 2.20 Replacement cost 10.
Answers (1)
Use the accounting equation to solve for equity. 2. If next year assets increased by $ 3 comma 700 and equity decreased by $ 2 comma 320 , what would be the amount of total liabilities for Seal Away Handyman Services?
Answers (1)
Billy's is currently an all equity firm that has 115000 shares of stock outstanding at a market price of $36.22 a share. The firm has decided to leverage its operations by issuing $100000 of debt at an interest rate of 9.6 percent.
Answers (1)
Acme, Inc.'s books show an ending cash balance of $10,500 before preparing the bank reconciliation. Given the bank reconciliation shows outstanding checks of $3,100, deposits in transit of $2,100, NSF check of $110, and interest earned on the bank
Answers (1)
Giovanna is very competent. She works in a relatively predictable environment. All of her subordinates do the same activity with few problems.
Answers (1)
New Questions in Business
An owner withdrawal of $20,000 would: A. decrease owner’s equity and increase assets by $20,000. B. increase owner’s equity and decrease liabilities by $20,000. C. increase liabilities and assets by $20,000.
Answers (1)
Leah, the CEO of SteadyResults Corp., feels that she is underpaid, so she hires a compensation consultant to survey actual competitors of the company. According to agency theory, if SteadyResults performs poorly, her salary will most likely:
Answers (1)
A qualification that might ordinarily be argued as being a basis for discrimination, but a company can show is job related and necessary is called a a. real and necessary distinction. b. quasi-discriminatory factor. c.
Answers (1)
Rasheed can afford a monthly car payment of $600 for 5 years at an annual interest rate of 4 percent. Which of the following is closest to the amount he will be able to borrow for a new car? Remember, loans are END of period.
Answers (1)
Kimbeth Manufacturing uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The following information pertains to operations for November.
Answers (1)