Problem Ocean Breeze Hotel records room service sales daily. Friday's report shows: breakfast orders. $890, lunch $1,240, dinner $1,680, and complimentary items $320. Find the total room service revenue.
Q: Solve these accounting problem not use ai
A: Step 1: Define LiabilityLiability is a source of finance which can be used by the company as an…
Q: Please carefully read the Question and answer it.
A: DEFINITIONS:Materiality Concept: The materiality principle states that an item is considered…
Q: What is the return on equity on these accounting question?
A: Step 1: Define Return On EquityThe net profit or income is an important financial measure used in…
Q: Please provide this question solution accounting
A: Step 1: Define Gross ProfitThe gross profit is the profit before taxes and after deducting all types…
Q: I want to correct answer general accounting
A: To calculate the Present Value (PV) of future cash inflows, we can use the formula for the…
Q: An investment has expected...accounting questions please give me answer
A:
Q: Sunny corporation this question solution general accounting
A: Step 1: Define Long-term DebtsLong-term debts refer to the amount of debt that a corporation holds…
Q: I need answer of this question solution general accounting
A: Step 1: Define Avoidable CostThe concept of avoidable costs is used in management decision-making.…
Q: On January 1, the partners of Mori, Lux, and Khan (who share profits and losses in the ratio of…
A: Step 1: MORI, LUX, AND KHAN PARTNERSHIPProposed Schedule of LiquidationJanuary 31 CashNoncash…
Q: Provide this question solution general accounting
A: Step 1: Define Contribution MarginA company's contribution margin can be expressed in total or on a…
Q: Welborn Stores offers a coupon on its website for $5 off the customer’s next purchase of $30 or…
A: First, we need to calculate the net amount the customer needs to pay after applying the $5 coupon.…
Q: Answer the question
A: Explanation of Time Period Assumption: The time period assumption states that business activities…
Q: On January 1, 2024, the Mason Manufacturing Company began construction of a building to be used as…
A: Step 1:1. First calculate the weighted average interest rate of all debts: Formula table: Result of…
Q: The entity theory
A: Explanation of Proprietary Theory:The proprietary theory considers a business as an extension of its…
Q: I need answer of this question solution general accounting
A: Step 1:Define Shareholders EquityAfter deducting all the liabilities of a company from the assets,…
Q: Give calculation of profit margin ratio on these accounting question
A: Hello student! Profit Margin Ratio is the percentage of sales remaining after we remove all the…
Q: Accounting
A: Step 1: Define Gross Income:Total income earned by an individual during a financial year from…
Q: I need answer of this question solution general accounting
A: Step 1: Define Operating Cash FlowOperating cash flow is an important value that is used in capital…
Q: Green Corporation produces microwave units. The following per unit cost information is available:…
A: Answer 1:Computation of markup percentage under the absorption costing system by dividing the…
Q: General Accounting
A: Concept ExplanationAccounts Receivable → This is the amount customers owe to the company for credit…
Q: Financial Accounting Question: 7.3
A: Explanation of Note Payable:A note payable is a written agreement in which a borrower agrees to pay…
Q: Please give me answer account
A: Step 1: Define Debt-Equity RatioThe debt-equity ratio indicates the percentage of a company's total…
Q: I need answer of this question solution general accounting
A: Step 1: Define InventoryInventory cost at the end of the period is adjusted using the…
Q: Financial accounting please given answer
A: Cash flows:Year 0: -$200 (Initial investment)Year 1: $100Year 2: $220Year 3: $90Year 4: $45Required…
Q: Provide this question solution general accounting
A: Step 1: Define GoodwillGoodwill represents an intangible asset that is reported on the balance sheet…
Q: Hi expart solve this accounting question
A: Step 1: Define Outstanding DebtOutstanding debt is the sum of the principle and the interest which…
Q: Can you please give correct answer for this accounting question?
A: Cash Conversion Cycle (CCC) CalculationGiven Data:Sales: $6,800Cost of Goods Sold (COGS):…
Q: Solve this accounting question
A: Step 1: Define Note receivableNote receivable is a current asset that the company records on the…
Q: Listed here are three separate series of costs measured at various volume levels. Volume (Units)…
A: As hinted, let's graph the series:Series 1: Fixed costFixed costs are costs that are constant…
Q: Provide this question solution general accounting
A: Step 1: Define Personal ExemptionsWhen computing income tax liabilities, a personal exemption was…
Q: Account question please give me answer
A: Earning Per Share = Net Income/No. of shares outstanding Earning Per Share = 400,000/40,000 Earning…
Q: I need answer of this question solution general accounting
A: Step 1: Define Contribution MarginThe contribution margin is determined as the difference between a…
Q: Calculate the amount of freight in. General accounting
A: Step 1: Freight-InFreight-in expenses refer to those expenses that a business incurs to bring the…
Q: Financial accounting: find the required provision for doubtful debt (6 points)
A: Explanation of Accounts Receivable: Accounts receivable represents money owed to a business by…
Q: General Accounting Question please answer do fast
A: Step 1:Ratio analysis is a process of comparison of data with previous year and with compatitive…
Q: Martin corporation has provided...accounting
A: Explanation: As per activity-based costing, the activity rate is calculated as = Activity Cost…
Q: Green company. ...I need questions answers
A: Step 1: Operating LeverageOperating leverage can be defined as the employment of an asset with a…
Q: Give true answer this accounting question
A: Let us work around this formula of ending equity.Ending equity = Beginning equity + Stocks sold +…
Q: Answer in step by step with explanation. Don't use Ai.
A: Hello student! To determine the budgeted cash collections and cash payments, we must focus on the…
Q: In step acquisition accounting
A: Detailed explanation: Step acquisition accounting involves re-measuring the previously held equity…
Q: General accounting problem
A: Explanation of Damaged/Dead Plant Units: Damaged or dead plant units refer to the inventory that is…
Q: Accounting question
A: Step 1: Retained EarningsRetained earnings represent the accumulated net income of the company. The…
Q: ?
A: Calculation of direct labor costDirect Labor Cost = Direct Labor Hours x Rate per hour = 120 x $35 =…
Q: A suit company has the following standards to make one suit: give true answer this accounting…
A: Step 1: Define Variance AnalysisThe variance analysis for a firm is usually carried out for…
Q: Harmony Music Store
A: Explanation of Prepaid Utilities: Prepaid utilities represent advance payments made for utility…
Q: Larkspur Company is considering buying equipment for $360,000 with a useful life .... Please solve…
A: Step 1: Define Corporate FinanceCorporate finance manages financial activities and decision-making…
Q: Accounting Question please answer fast and step by step calculation
A: The problem involves the determination of the future value of an annuity. Future value is the value…
Q: What is the profitability index of the investment on these general accounting question?
A: To calculate the Profitability Index (PI), we follow these steps:Formula for PI:Profitability Index…
Q: Hello tutor answer the accounting question not use ai
A: Step 1: Define AssetsAny resource with an economic value for the company is known as an asset. These…
Q: I need answer financial accounting
A: Step 1: Define Inspection costInspection cost means the cost incurred to identify defect-free…
Solution for this
Step by step
Solved in 2 steps
- Prepare the following journal entries. a. sales on account are $ 8,200. b.customer returns $ 1,200.Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200. In the cash disbursements journal, the Accounts Payable column has total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of $10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger?The sales journal of Kutkutin & Pasalubong for the month of June, is shown below. On a ledger sheet, post to the Accounts Receivable control account and the accounts subsidiary ledger. Write your answers on a ledger sheet.
- The following purchase transactions occurred during March for Celebration Catering Service: Mar. 11. Purchased party supplies for $610, on account from Party Hearty Supplies Inc. 14. Purchased party supplies for $312, on account from Fun 4 All Supplies Inc. 27. Purchased office furniture for $2,480, on account from Office Space Inc. Record these transactions in the following purchases journal format: PURCHASES JOURNAL Accounts Party Supplies Dr. Other Accounts Payable Cr. Post. Post. Date Account Credited Ref. Dr. Ref. AmountA restaurant which also caters for special events had the following data: Gross receipts from customers P 500,000 50,000 Gross receipts from advanced reservations Client balances evidenced by promissory note 70,000 Total 620,000 What is the Output VAT? a. P 60,000 b. P 66,000 P 68,400 P 74,400 C. d.Stay-4-Ever is a small motel chain with locations in the northeastern United States. The chain has a total of 200 rooms. The following operating data are available for July: Number of Guests. Nights per Visit Guest Nights 1,600 1 1,600 750 2 1,500 275 3 825 80 4 320 19 5 95 Determine the guest nights for July. Determine the available room nights for July. Determine the occupancy rate for July. Assume that the occupancy rate for July of the prior year was 75%. Has the utilization rate for Stay-4-Ever improved or declined?
- A beverage wholesale outlet sells beverages by the case. On April 13, a customer purchased 18 cases of wine at $42 per case, 20 cases of soda at $29 per case, and 45 cases of water at $17 per case. The customer pays with a Merill credit card. Merill charges a usage fee to the company of 5% of the total sale. What is the sales entry for this purchase?Guardian Services Inc. had the following transactions during the month of April: a. Record the June purchase transactions for Guardian Services Inc. in the following purchases journal format: b. What is the total amount posted to the accounts payable and office supplies accounts from the purchases journal for April? c. What is the April 30 balance of the Officemate Inc. creditor account assuming a zero balance on April 1?Review the following sales transactions for Dish Mart and record any required journal entries. Note that all sales transactions are with the same customer, Emma Purcell. Mar. 5 Dish Mart made a cash sale of 14 sets of dishes at a price of $700 per set to customer Emma Purcell. The cost per set is $460 to Dish Mart. Mar. 9 Dish Mart sold 30 sets of dishes to Emma for $650 per set on credit, at a cost to Dish Mart of $430 per set. Terms of the sale are 10/15, n/60, invoice date March 9. Mar. 13 Emma discovers 8 of the dish sets are damaged from the March 9 sale and returns them to Dish Mart for a full refund. Mar. 14 Dish Mart sells 7 sets of dishes to Emma for $670 per set on credit, at a cost to Dish Mart of $410 per set. Terms of the sale are 10/10, n/60, invoice date March 14. Mar. 15 Emma discovers that 3 of the dish sets from the March 14 purchase and 7 of the dish sets from the March 5 sale are missing a few dishes but keeps them since Dish Mart granted an allowance of $220 per…
- Prepare journal entries for the following transactions of Dulce Delights. Apr. 10 Sold 350 ice cream buckets with a sales price of $12 per bucket to customer Livia Diaz. Livia paid using her in-house credit account; terms 2/10, n/30. The cost for this sale to Dulce Delights is $4.50 per bucket. Apr. 13 Sold 310 ice cream buckets with a sales price of $13.50 per bucket to customer Selene Arnold. Selene paid using her Max credit card. The cost for this sale to Dulce Delights is $4.50 per bucket. Max Credit Card Company charges Dulce Delights a 5% usage fee based on the total sale per transaction. Apr. 20 Livia Diaz paid her account in full with a cash payment, less any discounts. Apr. 25 Max Credit Card Company made a cash payment in full to Dulce Delights for the transaction from April 13, less any usage fees. If an amount box does not require an entry, leave it blank. If required, round final answers to two decimal places. Apr. 10 To record sale of ice cream buckets 0C Apr. 10 To…Review the sales journal below. (Click the icon to view the sales journal.) Read the requirements. Requirement 1. Total each column of the sales journal. Date 2024 Jun. Jun. 1 8 101 Fletcher Jay 102 Iliana Flower 13 103 Jesse Thomas 28 104 George Westerberg 30 Totals 1. 2. Invoice No. Requirements 3. 4. Customer Account Debited Sales Journa Post. Accounts Receivable DR Ref. Sales Revenue CR Total each column of the sales journal. The following four-column accounts in the accounts receivable subsidiary ledger have been opened for you: Accounts Receivable-Flower; Accounts Receivable Jay; Accounts Receivable-Thomas; Accounts Receivable-Westerberg. Post the transactions to the accounts receivable subsidiary ledger. 1,260 2,225 360 900 Print The following selected four-column accounts in the general ledger have been opened for you: Accounts Receivable (112); Merchandise Inventory (118), Bal. $4,800; Sales Revenue (411); Cost of Goods Sold (511). Post the total of each column to the general…Review the following sales transactions for Dish Mart and record any required journal entries. Note that all sales transactions are with the same customer, Emma Purcell. Mar. 5 Dish Mart made a cash sale of 14 sets of dishes at a price of $900 per set to customer Emma Purcell. The cost per set is $450 to Dish Mart. Mar. 9 Dish Mart sold 30 sets of dishes to Emma for $850 per set on credit, at a cost to Dish Mart of $420 per set. Terms of the sale are 10/15, n/60, invoice date March 9. Mar. 13 Emma discovers 8 of the dish sets are damaged from the March 9 sale and returns them to Dish Mart for a full refund. Mar. 14 Dish Mart sells 7 sets of dishes to Emma for $870 per set on credit, at a cost to Dish Mart of $420 per set. Terms of the sale are 10/10, n/60, invoice date March 14. Mar. 15 Emma discovers that 3 of the dish sets from the March 14 purchase and 7 of the dish sets from the March 5 sale are missing a few dishes but keeps them since Dish Mart granted an allowance of…
