Levine company uses the perpetual inventory system and allows customers to use two credit cards in charging purchases. with the suntrust bank card, a 4% service charge for credit card sales is assessed. the second credit card that levine accepts is the continental card. continental assesses a 2.5% charge on sales for using its card. apr. 8 sold merchandise for $8,400 (that had cost $6,000) and accepted the customer’s suntrust bank card. 12 sold merchandise for $5,600 (that had cost $3,500) and accepted the customer’s continental card. prepare journal entries to record the above selected credit card transactions of levine company.
Answers: 1
Another question on Business
Business, 22.06.2019 01:00
In order to gauge public opinion about how to handle iran's growing nuclear program, a research group surveyed 1010 americans by telephone and asked them to rate the threat iran's nuclear program poses to the world on a scale of 1 to 10. describe the population, sample, population parameters, and sample statistics. identify the population in the given problem. choose the correct answer below.
Answers: 2
Business, 22.06.2019 10:10
An investment offers a total return of 18 percent over the coming year. janice yellen thinks the total real return on this investment will be only 14 percent. what does janice believe the inflation rate will be over the next year?
Answers: 3
Business, 22.06.2019 14:30
Bridge building company estimates that it will incur $1,200,000 in overhead costs for the year. additionally, the company estimates 50,000 direct labor hours will be spent building custom walking bridges for the year at a total direct labor cost of $600,000. what is the predetermined overhead rate for bridge building company if direct labor costs are to be used as an allocation base?
Answers: 3
Business, 22.06.2019 15:30
On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.
Answers: 3
You know the right answer?
Levine company uses the perpetual inventory system and allows customers to use two credit cards in c...
Questions
Medicine, 31.08.2019 05:30
English, 31.08.2019 05:30
Biology, 31.08.2019 05:30
Computers and Technology, 31.08.2019 05:30
English, 31.08.2019 05:30
Computers and Technology, 31.08.2019 05:30
