A company receives $220 for merchandise, of which $15 is for sales tax and $5 is for excise tax. The entry to record the sale would include a:
a. debit to Cash for $200.
b. credit to Sales Tax Expense for $20.
c. credit to Sales for $220.
d. credit to Sales Tax Payable for $15.
d
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In an emergency, you used your credit card for a $500 cash advance. You just received your statement and your total balance due is $1,859, and the cash advance was the most recent charge
You want to be sure to pay for the cash advance so you send in a payment of $700. Your credit card has an APR of 12 percent. How much of your payment will apply to the cash-advance balance? A) Because it was the most recent charge, $500 of the payment will apply to the cash-advance balance. B) It doesn't make any difference because the $1,859 balance includes the cash advance, the $700 payment will lower your total balance regardless, so the amount applied to the cash-advance balance is irrelevant. C) There isn't enough information to answer the question, because the answer depends on the cash advance's interest rate. D) None of the above
Petteway Corporation has two divisions: Home Division and Commercial Division. The following report is for the most recent operating period: Total CompanyHome DivisionCommercial DivisionSales$702,000$354,000$348,000Variable expenses$242,460$138,060$104,400Traceable fixed expenses$325,000$152,000$173,000Common fixed expense$77,220$38,940$38,280 The common fixed expenses have been allocated to the divisions on the basis of sales. Required: a. What is the Home Division's break-even in sales dollars?b. What is the Commercial Division's break-even in sales dollars?c. What is the company's overall break-even in sales dollars?
What will be an ideal response?
A portfolio consists of three bonds as follows. What is the duration of the bond portfolio?
A) 7.12 years B) 8.07 years C) 8.69 years D) 11.4 years
Which product characteristic affecting the rate of adoption of a new product represents the degree to which the benefits or other results of using the product can be communicated to target customers?
A. observability B. diffusion C. adoption D. trialability E. complexity