(a) (b) Oriole Restaurant accepted a Visa card in payment of a $175 lunch bill. The...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
(a) (b) Oriole Restaurant accepted a Visa card in payment of a $175 lunch bill. The bank charges a 4% fee. What entry should Oriole make? Sage Hill Company sold its accounts receivable of $70,000. What entry should Sage Hill make, given a service charge of 4% on the amount of receivables sold? (a) (b) Oriole Restaurant accepted a Visa card in payment of a $175 lunch bill. The bank charges a 4% fee. What entry should Oriole make? Sage Hill Company sold its accounts receivable of $70,000. What entry should Sage Hill make, given a service charge of 4% on the amount of receivables sold?
Expert Answer:
Answer rating: 100% (QA)
Answer Account titles debit credit and explanation a cash account 168 Service char... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
Posted Date:
Students also viewed these accounting questions
-
Presented below are two independent transactions. a. Fiesta Restaurant accepted a Visa card in payment of a 175 lunch bill. The bank charges a 4% fee. What entry should Fiesta make? b. St. Pierre AG...
-
Consider these transactions: (a) Draber Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Draber make? (b) Marin Company sold its accounts...
-
Consider these transactions: a. Tastee Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Tastee make? b. Martin Company sold its accounts...
-
We consider the following CFG SE + SIE E 01|2|3|4|5|67|8|9|(S) Apply the leftmost derivation and rightmost derivation with a top-down parser for this sentence: (3+7+ (1+4)) + 2
-
Briefly describe some of the similarities and differences between U.S. GAAP and iGAAP with respect to the accounting for property, plant, and equipment.
-
Why is the gold standard a type of fixed exchange rate system?
-
The September 30, 2010, adjusted trial balance of Java Jolt, Inc., is shown next. Requirements 1. Prepare the September closing entries for Java Jolt, Inc. 2. Calculate the ending balance in Retained...
-
Refer to the previous question. Suppose that each of the audit activities can be crashed by the amounts indicated in the following table. a. What is the earliest the audit could be completed and what...
-
Hypothetical Dr. Dredd is extremely angry about the Internal Revenue Code. He thinks it is deeply unfair that it penalizes wealthy individuals like him with higher taxes. He decides to form a new...
-
The audit firm of DCG, LLP is performing an audit of Argo Co., a publicly traded company, for the year ending December 31, 2014. You have been given the assignment of assisting in the planning...
-
Wyatt Oil is a multidivisional company with activities spanning the following three industries: oil exploration, oil refining, and gas & convenience store. The following table provides some...
-
The system shown in the schematic represents a model two-story building: Take m = 1 104 kg, m = 3 104 kg, k = 4 105 N/m, k = 2 105 N/m a) Derive the equations of motion of the system and represent...
-
On January 1, 20X5, John Co. invested in Mary Ltd as an associated company by purchasing 25% of the outstanding shares of Mary at a cost of $275,000. Both firms have a fiscal year-end of December 31....
-
Diego Company manufactures one product that is sold for $71 per unit in two geographic regions-the East and West regions. The following information pertains to the company's first year of operations...
-
Aloha Company reported the following year-end information: Beginning work in process inventory $2,100,000 Beginning raw materials inventory 1,000,000 Ending work in process inventory 1,300,000 Ending...
-
14) A certain boat displaces a volume of 8.3 m of water. (The density of water is 1000 kg/m.) What is the mass of the water displaced by the boat? What is the buoyant force acting on the boat
-
A firm produces products A and B. The following data is available: Selling price per unit is $20 A and $25 B Variable costs per unit is $11 A and $18 B Sixty percent of sales in units are expected to...
-
How has the too-big-to-fail policy been limited in the FDICIA legislation? How might limiting the too-big-to-fail policy help reduce the risk of a future banking crisis?
-
Joyce Ltd. signed a lease for an office building for a period of 8 years. Under the lease agreement, a security deposit of 8,400 is made. The deposit will be returned at the expiration of the lease...
-
The balance in retained earnings on January 1, 2020, for Palmer Cosmetic was 800,000. During the year, the company paid cash dividends of 90,000 and distributed a share dividend of 8,000. In...
-
Tandika Industries reports the following total costs at two levels of production. Classify each cost as variable, fixed, or mixed. 5,000 Units 10,000 Units Rp 3,000,000 7,000,000 28,000,000 Rp...
-
Fill in the Blank. Vibration neutralizer is also known as dynamic vibration ____________.
-
True or False. The transmissibility is also called the transmission ratio.
-
Control natural frequency a. Introduce damping b. Use vibration isolator c. Add vibration absorber d. Avoid resonance
Study smarter with the SolutionInn App