Journalize the following transactions for Stillwater Spa Consultants: Oct. 1 Sold services for $260,000 to customers using debit cards. Assume the bank charges 0.5% for all debit card transactions. 7 Sold services to customers for $29,000 cash. 8 Recorded Visa credit card sales totalling $152,000. Assume visa applies fees of 21. 10 Sold $108,000 of services to Edson Community Health Clinic, terms 2/15, n/30. 25 Collected the amount owing regarding the October 10 sale.

Q: do you have the answer in a different format using equations

A: The present value is the present worth of the amount that will be paid or received in the future.

Q: Horizontal analysis is often referred to as the simplest approach of analyzing information. True…

A: Horozontal analysis also known as trend analysis is used to analyse and compare the data present in…

Q: Explain the call-put parity relation and how it is justified?

A: call-put parity relation 1. It shows the prices of calls and puts , consistency of underlying…

Q: Describe the differences between a formula and a function?

A: A formula is an equation or expression that, when entered into a spreadsheet or other application,…

Q: briefly explain what is meant by breakven points

A: Cost accounting is the part of accounting that helps in determining the total cost of production. It…

Q: Explain Anti-dilutive Security

A: Explanation to Securities Securities are referred to as the tradeable financial instruments which…

Q: Explain Destination principle in relation to VAT.

A: The destination principle is a principle in Value Added Tax (VAT) that determines the taxation of…

Q: Explain the features of HELOCs that differentiate them from HELs with example?

A: Home equity refers to the difference in the value of the home and the mortgage balance. In HELs and…

Q: Briefly explain on Salam and Parallel Salam.

A: Salam and Parallel Salam are modes of Islamic financing which are useful for traders and small…

Q: Could a CMO exist without a Z class

A: Introduction: A CMO is a form of mortgage-backed securities in which many different types of…

Q: Explain put–call parity relationship

A: Put-Call parity is the concept that defines the relationship between price of European call option…

Q: Explain the drawbacks of IRR over MIRR with example?

A: Capital budgeting is part of investment decisions. Business firms consider capital budgeting in…

Q: Explain red herring

A: Red herring It is an introductory prospectus recorded with the Securities and Exchange Commission…

Q: What is a limit order?

A: Limit order It is such an order to buy or trade a security at or superior to a predefined cost. The…

Q: Explain the limitations of ABC system.

A: ABC System is a method of costing i.e. Activity Based Costing. This is a costing method that assigns…

Q: Explain the put call parity model. What are the advatages and disavantages of it?

A: Put-call parity characterizes the connection between calls, puts and the underlying assest price or…

Q: Formula for put call parity?

A: Put call parity Put-Call parity defines the value of same class European put and call options. Put…

Q: What is the meaning of incoterms

A: International chamber of commerce is the supervisor of international trading, and try to provide…

Q: Explain an example of faithful representation.

A:

Q: Explain what is meant by the term “system”. How do subsystems, systems and systems of systems…

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…

Q: How does the Representational faithfulness is enhanced if information is free from error?

A: Accounting:   Accounting is the process of recording the financial transaction of the organization…

Q: order/structure doesnot come out of chaos discuss the argument with examples

A: CHAOS : It is defined as a state of utter confusion and disorder. ORDER/ STRUCTURE : It is a complex…

Q: Name two different ways that MPTBs can be overcollateralized

A: The MPTBs are viewed as hybrid securities. Such bonds have qualities of mortgage backed bond (MBB)…

Q: solution cannot be understand, please show a clearer one.

A: Here, Required Amount (FV) is P2,500,000 Time Period (n) is 40 years Interest Rate (r) is 9%…

Q: solution

A: The term "present value" (PV) refers to the value at the current time of a quantity of money or…

Q: Which one is not an example of input to a mathematical model?  a. Uncontrollable or environmental…

A: Solution: Project result is not an example of input to a mathematical model because it is an example…

Q: How do CDOs differ from CMBSs?

A: Difference between CDO and CMBS is that CMBS is a subset of CDO. In CMBS the underlying assets are…

Q: Describe the steps taken to Switch from the DB method to the SL method?

A: Depreciation:- Depreciation is allocating the value of the fixed (long lived) assets over the period…

Q: Explain Replacement-Analysis Fundamentals?

A: Replacement-analysis fundamentalUnder this, the decision regarding the replacement of obsolete as…

Q: Define GAP Analysis

A: Gap Analysis is done by the company to fill the gaps and improve the performance of the company.…

Q: oal Seek is limited to a single parameter. Group of answer choices True False

A: Goal seek works only on a single parameter but it can used on multiple cells. If there are multiple…

Q: Provide worded problem about compound interest

A:

Q: Can somebody check if this is right it's a hw problem on cengage?

A: Hi, All the ratios you have calculated is right. Thanks

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.