User Account

All Pages

Journalize the sale transaction for the restaurant

Assignment Help Accounting Basics
Reference no: EM132673066

Question - Peter Restaurants accepts credit and debit cards as forms of payment. Assume Peter had 10,000 of credit and debit card sales on November 30, 2017.

Suppose Peter's processor charges a 1% fee and deposits sale net of the fee. Journalize the sale transaction for the restaurant. (Record debits first, then, credits. Select the explanation on the last line of the journal entry table.)

Suppose Peter's processor charges a 1% fee and deposits sales using the gross method. Journalize the sale transaction for the restaurant.

Reference no: EM132673066

Questions Cloud

Prepare the appropriate journal entries at December : Assuming Sheffield is a private company that applies ASPE, prepare the appropriate journal entries at December 31, 2019, and December 31, 2020
Uwear and paledenim scenario : what is the difference between being a manager and being a leader? which leadership theory or style will be effective when leading the merger and why?
Find income from continuing operations : he unrealized holding gain-OCI relates to investments that are not quoted in an active market. Find Income from continuing operations
Describe your process for creating five-year strategic plan : Describe your process for creating the 5-year strategic plan, articulate the priorities of the plan and discuss how you would convince the shareholders
Journalize the sale transaction for the restaurant : Suppose Peter's processor charges a 1% fee and deposits sales using the gross method. Journalize the sale transaction for the restaurant
Calculate the company debt-equity ratio : Calculate the company's Debt-Equity ratio as of 12/31/19 and 12/31/18. Calculate the company's Debt-Assets ratio as of 12/31/19 and 12/31/18
Requirements analysis is miscommunication : A major problem during requirements analysis is miscommunication. Analysis is often carried out by engineers or programmers,
How to build or improve your professional portfolio : How to build or improve your professional portfolio. What are some of your own personal strengths and weaknesses related to the interview process?
Describe the four functions of management : Describe the four functions of management. What role do these play in the strategic decision making process?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd