User Account

All Pages

Prepare journal entries for credit card sales transactions

Assignment Help Accounting Basics
Reference no: EM133179079

Question - Prepare journal entries for the following credit card sales transactions (the company uses the perpetual inventory system).

1. Sold $21,000 of merchandise, which cost $15,800, on Mastercard credit cards. Mastercard charges a 5% fee.

2. Sold $5,100 of merchandise, which cost $3,050, on an assortment of bank credit cards. These cards charge a 4% fee.

Reference no: EM133179079

Questions Cloud

Assignment on corporate social responsibility : 1. What strategies can be implemented to make a climate of corporate social responsibility?
Pro quo forms of sexual harassment : Provide one example of a behavior that could be found to be both a hostile environment and quid pro quo forms of sexual harassment at the same time. Explain how
Calculate the residual income or eva of paver hospital : Superior has established a required rate of return equal to 18 percent of invested capital. Calculate the residual income/EVA of Paver Hospital
Diversity-several historical and current laws : several historical and current laws were discussed that have negatively impacted African Americans.
Prepare journal entries for credit card sales transactions : Prepare journal entries for the following credit card sales transactions - Sold $21,000 of merchandise, which cost $15,800, on Mastercard credit cards
Differentiate in legally required-discretionary benefits : Your response should differentiate between legally required and discretionary benefits and the role that they play in providing coverage to employees.
Create strategic objective for company : Create a strategic objective for the company. Create short- and long-term goals for achieving the company's strategic plan.
Explain the types of union security agreements : Question 1: Explain the five (5) types of union security agreements and provide (1) one example for each.
What is the profit margin for child and store : If you pay your child $1.50 to go buy $50 worth of groceries, then your child makes twice as much on the trip as we do. What is the profit margin for child

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