Sales to customers who use bank credit cards such as mastercard and visa are usually recorded by:a. Debit to Cash and a credit to Sales b. Debit to Cash, credit to Credit Card Expense, and a credit to Sales c. Debit to Bank Credit Card Sales, debit to Credit Card Expense, and a credit to Sales d. Debit to Sales, debit to Credit Card Expense, and a credit to Cash

Answers

Answer 1
Answer:

Answer:

c. Debit to Bank Credit Card Sales, debit to Credit Card Expense, and a credit to Sales

Explanation:

The journal entry is shown below:

Bank credit card sales A/c Dr XXXXX

Credit card expense A/c Dr XXXXX

       To Sales A/c XXXXX

(Being the sales is recorded via bank credit cards)

As the credit card has some expense so we debited the credit card expense along with the bank credit card sales and credited the sales as it is revenue which is to be credited


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On January 1 st, you make plans to travel to Switzerland the following summer. The direct quote for Swiss francs is $0.30.Since it will be a short trip, you believe $3000 in spending money will be sufficient. On June 1 st, the direct quote for Swiss francs is $0.40.As a result, How much Swiss francs will buy your $3000.

Answers

Answer:

On January 1st, the $3,000 could buy 10,000 Swiss francs (3,000/0.3).

On June 1st, the $3,000 would buy 7,500 Swiss francs (3,000/0.4).

Explanation:

On January 1st, each Swiss francs could only purchase $0.30 while on June 1st, each Swiss francs could purchase $0.40.

These show that the Swiss francs had appreciated in value relative to the US Dollars with a positive change of 33%.  Therefore, the dollar had weakened against the Swiss francs by the same rate.

Answer:

7500 Swiss francs

Explanation:

Working

January 1, Swiss francs = $0.3

$3000 will by 3000/0.3 = 10,000 Swiss francs.

June 1 , Swiss Francs = $ 0.4

$3000 will buy 7500 Swiss francs.

This also mean that in January 3.33 Swiss francs will buy 1 $

In June 1 , 2.5 Swiss francs will buy one dollar.

This shows that Swiss francs has appreciated in value against dollar over the months

john Hayes and Lynn Magosian, auditors for a public accounting firm, went to lunch at the Bay View Restaurant in San Francisco. John left his raincoat with a coatroom attendant, but Lynn took her new raincoat with her to the dining room, where she hung it on a coat hook near her booth. When leaving the restaurant, Lynn discovered that someone had taken her raincoat. When John sought to claim his raincoat at the coatroom, it could not be found. The attendant advised that it might have been taken while he was on his break. John and Lynn sued the restaurant, claiming that the restaurant was a bailee of the raincoats and had a duty to return them. Are both John and Lynn correct

Answers

Answer:

John is correct but Lynn isn't

Explanation:

John is correct because he left his coat with the coatroom attendant under the premise that it would be properly looked after and returned to him when he was done having lunch at the restaurant. However, Lynn just left her coat lying around under no ones care or supervision, there wasn't a predetermined agreement that anyone would be responsible for watching it on her behalf, therefore I don't think she is has the right to sue.

A Canadian apple farmer buys fertilizer from a U.S. based firm located near the Canadian border. The apple farmer receives a guarantee of payment from a Canadian bank and sells the guarantee in the secondary market. The risk of the banker’s acceptance depends most likely on the:a. Apple farmer.
b. U.S. fertilizer firm.
c. Canadian bank.
d. Apple market

Answers

Answer:

C

Explanation:

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Answers

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Answer: labor

Explanation:

The project sponsor has asked Franz to hold a kickoff meeting for their project. What is the purpose of a kickoff meeting?

Answers

Answer:

A kickoff event's objective is to formally tell-all project stakeholders that the project has started. It introduces the team and assists them in understanding the project's requirements, history, and individual duties.

Explanation:

Four basic steps are used in an ABC system. List the proper order of these steps, which are currently scrambled below:a. Identify the primary activities and estimate a total cost pool for each.b. Allocate the costs to the cost object using the activity cost allocation rates.c. Select an allocation base for each activity.d. Calculate an activity cost allocation rate for each activity.A) c, a, b, dB) a, c, d, bC) b, a, c, dD) a, d, c, b

Answers

Answer:

B) a, c, d, b

Explanation:

a. Identify the primary activities and estimate a total cost pool for each.

c. Select an allocation base for each activity.

d. Calculate an activity cost allocation rate for each activity

b. Allocate the costs to the cost object using the activity cost allocation rates

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