Training needs analysis

Answers

Answer 1

Answer:

is it a true or false question?


Related Questions

What is one result of competition in a free-market economy?
A. The government decides who is allowed to compete in the market.
B. Consumers can choose which company's products they want to
buy.
C. Traditional values determine who will compete in the market.
D. Businesses control the price that all the companies within an
industry can charge.

Answers

Answer:

b

Explanation:

Monty Corp. has been in business for several years. At the end of the current year, the ledger shows: Accounts Receivable $ 326,200 Dr. Sales Revenue 2,761,700 Cr. Allowance for Doubtful Accounts 6,100 Cr. Uncollectible accounts are estimated to be 6% of accounts receivable. Prepare the entry to adjust Allowance for Doubtful Accounts. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Answers

Answer and Explanation:

The journal entry is shown below:

Bad debt expense Dr  $13,472

    To allowance for doubtful debts  $13,472

(Being the bad debt expense is recorded)

The bad debt expense is

= 6% of $326,200 - $6,100

= $13,472

Here the bad debt expense is debited as it increased the assets and credited the allowance for doubtful debts

Capital gains may be preferred by investors over dividends even if dividends and capital gains are taxed at the same rate because
a. taxes on dividends are withheld immediately
b. taxes on capital gains are paid annually
c. taxes on capital gains can be timed
d. after-tax dividends are less certain than capital gains

Answers

Answer: c. taxes on capital gains can be timed

Explanation:

Capital gains represent an appreciation in the value of a security therefore they bring in profit to the owners of that security. Capital gains are not taxed until the owner sells the security which means that these taxes can be timed by the owner who can decide to sell at specific times to reduce their tax bill.

This is different from dividends that are taxed as soon as the company declares them. The investors have no say as to the tax timing so they will prefer capital gains where they have some form of control.

MC Qu. 134 Mustang Corporation has accumulated... Mustang Corporation has accumulated the following accounting data for the month of April: Finished goods inventory, April 1$32,800 Finished goods inventory, April 30 26,800 Total cost of goods manufactured 124,700 The cost of goods sold for the year is:

Answers

Answer:

The cost of goods sold for the year is $130,700

Explanation:

Finished goods inventory, April 1$32,800

Finished goods inventory, April 30 26,800

Total cost of goods manufactured 124,700

Use the following formula to calculate the cost of goods sold

Cost of goods sold = Total cost of goods manufactured + Finished goods inventory, April 1 - Finished goods inventory, April 30

Where

Finished goods inventory, April 1 = $32,800

Finished goods inventory, April 30 = $26,800

Total cost of goods manufactured = $124,700

Placing values in the formula

Cost of goods sold = $124,700 + $32,800 - $26,800

Cost of goods sold = $130,700

Andrews Company currently has the following balances in their liability and equity accounts: Total Liabilities: $52,319,000 Common Stock: $8,808,000 Retained Earnings: $45,066,000 Next year the Andrews Company generates $11,500,000 in Net Profit, pays $5,000,000 in dividends, and total liabilities and common stock remain unchanged. What will their total assets be next year

Answers

Answer: $112,693,000

Explanation:

Total assets = Equity + Liabilities

Liabilities will not change in the new year.

Retained earnings = Beginning retained earnings + Net income - Dividends

= 45,066,000 + 11,500,000 - 5,000,000

= $51,566,000

Assets = (8,808,000 + 51,566,000) + 52,319,000

= $112,693,000

Note: Equity is the sum of common stock and retained earnings

Arya has a homeowner’s policy that covers up to $400,000. Her house is completely destroyed in a fire. When an assessment is made of the house and possessions, it is decided that her losses are only worth about $350,000. How much money will Arya receive from her insurer (assuming there is no deductible)? A. $50,000 B. $200,000 C. $350,000 D. $400,000

Answers

Answer:

C: 350,000$

Explanation:

If there is no deductible then the insurance would pay the damges. Damages were 350,00$

The following estimates have been prepared for a project:Fixed costs: $27,000Depreciation: $18,000Sales price per unit: $4Accounting break-even: 50,000 unitsWhat must be the variable cost per unit

Answers

Answer: $3.10

Explanation:

Accounting breakeven = Fixed costs / Contribution margin

Fixed costs = Fixed costs + Depreciation = 27,000 + 18,000 = $45,000

50,000 units = 45,000 / Contribution margin

Contribution * 50,000 = 45,000

Contribution = 45,000 / 50,000

Contribution margin = 0.9

Contribution margin = Sales - Variable cost

0.9 = 4 - Variable cost

Variable cost = 4 - 0.9

= $3.10

NFL players and owners are trying to negotiate a new labor contract. The owners are getting ready to send the contract over to the players who can then choose to accept the terms or keep bargaining. The owners are deciding whether to stipulate 16 games or 18 games as part of the contract. They would prefer 18 games, but they are worried that the players will not accept the contract and will keep bargaining if they put 18 games in the contract. The situation is described by the sequential game tree below: In the Nash equilibrium, the owners will choose ____________ and the players will respond by choosing to _________________.

Answers

Answer:

The answer is "16 games; accept the terms".

Explanation:

In this case, the players will decide the strategy first, followed by the owners.

Participants will choose the Keep Bargaining strategy to maximize its reward in the subgame of Owners' 18 games. "As a consequence, and here is the outcome:"

Players will choose the Accept Terms strategy to maximize the reward in the subgame Players on Owners' 16 games. (350M) and (250M) are the results.

To get a larger payout of $350M, the Owner would have to select a strategy among 16 games. Nash equilibrium is ($350M, $250M) in this case. It implies that the Owner's strategy in Nash equilibrium is to play 16 games, while the Players' strategy is to accept Terms.

calculator solutionvChang is investing $2,500 today and will do so at the beginning of each of the next six years for a total of seven payments. If her investment can earn 12 percent annually, how much will she have at the end of seven years

Answers

Answer: $28,249.25

Explanation:

As the payments are constant, this represents an annuity. Also, as the payment is made at the beginning of every period, it is an Annuity Due.

The value of the end of the 7 years is the future value of the annuity due which is found by:

= Annuity * Future value factor of an annuity, 7 years, 12%

= 2,500 * 11.2997

= $28,249.25

Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March.

March
1 Brooks invested $185,000 cash along with $26,000 in office equipment in the company
2 The company prepaid $8,000 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $8,000.
3 The company made credit purchases of office equipment for $5,100 and office supplies for $2,000. Payment is due within 10 days.
6 The company completed services for a client and immediately received $5,500 cash.
9 The company completed a $8,500 project for a client, who must pay within 30 days.
12 The company paid $7,100 cash to settle the account payable created on March 3.
19 The company paid $6,200 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $6,200.

Required:
a. Prepare general journal entries to record these transactions.
b. Post the journal entries from part 1 to the ledger accounts.
c. Prepare a trial balance as of the end of March.

Answers

Answer:

Venture Consultants

1. Journal Entries:

March 1 Debit Cash $185,000

Debit Office equipment $26,000

Credit Common stock $211,000

March 2 Debit Prepaid Rent $8,000

Credit Cash $8,000

March 3 Debit Office equipment $5,100

Debit Office supplies $2,000

Credit Accounts payable $7,100

March 6 Debit Cash $5,500

Credit Service revenue $5,500

March 9 Debit Accounts receivable $8,500

Credit Service revenue $8,500

March 12 Debit Accounts payable $7,100

Credit Cash $7,100

March 19 Debit Prepaid Insurance $6,200

Credit Cash $6,200

b. T-accounts:

Cash

Date        Account Titles             Debit        Credit

March 1   Common stock         $185,000

March 2  Prepaid Rent                              $8,000  

March 6  Service revenue            5,500  

March 12 Accounts payable                        7,100

March 19 Prepaid Insurance                      6,200

March 31 Balance                                 $169,200

Prepaid Rent

Date        Account Titles             Debit        Credit

March 2  Cash                            $8,000

Prepaid Insurance

March 19 Cash                          $6,200

Office equipment

Date        Account Titles             Debit        Credit

March 1   Common stock          $26,000

March 3  Accounts payable           5,100

March 31 Balance                                      $31,100

Office supplies

Date        Account Titles             Debit        Credit

March 3  Accounts payable     $2,000

Accounts receivable

Date        Account Titles             Debit        Credit

March 9  Service revenue         $8,500

Accounts payable

Date        Account Titles             Debit        Credit

March 3 Office equipment                         $5,100

March 3 Office supplies                            $2,000

March 12 Cash                            $7,100

Common stock

Date        Account Titles             Debit        Credit

March 1   Cash                                           $185,000

March 1   Office equipment                          26,000

March 31 Balance                    $211,000

Service revenue

Date        Account Titles             Debit        Credit

March 6  Cash                                         $5,500

March 9  Accounts receivable                  8,500

March 31 Balance                     $14,000

c. Trial Balance as of March 31

Date        Account Titles             Debit        Credit

Cash                                      $169,200

Prepaid rent                                8,000

Prepaid insurance                      6,200

Accounts receivable                  8,500

Office equipment                       31,100

Office supplies                           2,000

Common stock                                        $211,000

Service Revenue                                         14,000

Totals                                  $225,000  $225,000

Explanation:

a) Data and Analysis:

March 1 Cash $185,000 Office equipment $26,000 Common stock $211,000

March 2 Prepaid Rent $8,000 Cash $8,000

March 3 Office equipment $5,100 Office supplies $2,000 Accounts payable $7,100

March 6 Cash $5,500 Service revenue $5,500

March 9 Accounts receivable $8,500 Service revenue $8,500

March 12 Accounts payable $7,100 Cash $7,100

March 19 Prepaid Insurance $6,200 Cash $6,200

Starfish Enterprises management has obtained data on the material costs for a selected job which used 300 feet of materials, while estimates for the job required only 260 feet of materials. The materials price per unit was the same. Which is not a reason for the difference in material usage? A new employee worked on the job. The material used was of poor quality. The cutting tools were in need of repair. The cost of materials increased from the time of the estimate.

Answers

Answer:

Starfish Enterprises

The reason that is not the cause of the difference in material usage is:

The cost of materials increased from the time of the estimate.

Explanation:

a) Data and Calculations:

Units of materials used for the job = 300 feet

Standard units of materials for similar job = 260 feet

Unit variance = 40 Unfavorable (300 - 260)

b) Material usage variance does not concern with the cost of materials.  Since it is stated that the materials price per unit remained the same in both instances, the cost of materials increasing is certainly not a factor for the material usage variance.  The variance is caused by the other factors.

A debit balance is the bank statement indicates?

Answers

Answer:

Bank Overdraf

Explanation:

Overdrafts are where the bank account becomes negative and the businesses in effect have borrowed from the bank.

The only way to decrease your lifestyle budget is by completely eliminating an item.

True
False

Answers

Answer:

False

Explanation:

A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.

The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.

A lifestyle can be defined as the way and manner an individual chooses to live his or her life. Similarly, a lifestyle budget comprises the cost of goods and services an individual has chosen to spend his or her money on.

Basically, completely eliminating an item isn't the only way to decrease a lifestyle budget because there could be similar items that even cost way more than the eliminated item.

Some of the benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

Answer:

False

Explanation:

The only way to decrease your lifestyle budget is by completely eliminating an item.

True

False

BusCorp wants to introduce a new procedure to improve how customer requests are handled. This change will require employees to break old routines and adopt new role patterns. They decide to adopt two new programs, one in which employees learn how to work as teams as the company changes. The other involves forming task forces within the company to help determine ne customer service practices.
The formation of task forces to minimize resistance to change is known as:_______.
A. communication.
B. learning.
C. stress management.
D. negotiation.
E. employee involvement.

Answers

Answer:

E)Employee involvement

Explanation:

Employee involvement can be regarded as taking part of employees in decision-making process that are crucial to the organization, so that the goals of the organization are met. When employees there is involvement of employees in making decisions, there will be some professional as well as personal stake gained by the employee in the organization as well as the organization overall success. As a result of this there would be increased productivity in part of employees because they will take part actively in various aspects that will bring about success of the firm.

Sylvia mused to herself, "It has taken over 30 years, but I've finally been named CEO of a major firm. Now, I can concentrate on what I really want to do as a(n) ____________ manager, to focus on the survival, growth, and overall effectiveness of our firm."

Answers

Answer:

Strategic.

Explanation:

In Business management, a strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.

Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.

A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or an example to the employees working in an organization by being morally upright.

A strategic manager is also referred to as a top-level manager and he or she is mainly focused on setting goals, objectives, and procedures in order to enhance the survival, growth, and overall effectiveness of a business firm.

Hence, Sylvia can concentrate on what she really want to do as a strategic manager, by focusing on the survival, growth, and overall effectiveness of our firm.

Frank is a 60- year-old man who is well-loved in his community since he was a boy. He is someone who is outgoing, a party lover, and love to have fun hanging out with peers. Frank is confident about life. From an early age he knew exactly what he wanted to become, and now as a man, he is confident about his career and family and want to leave them a good life when he departs this life. Frank express that he is not afraid of dying but he wants them to be ok when he is gone.
At work Frank is helpful to his colleagues, and even in his community he is well-known among the elderly since he is always putting on Christmas treats for them.
Imagine that Frank is your colleague, and that your boss asks you to write a character reference for Frank. Using Jung’s personality theory to guide your writing, present a minimum one- page character reference in which you spell out Franks behaviour, his outlook on life, his philosophy about people and all the other important things you know about him. Ensure you point out how these different parts of Franks life fits into Jung’s theory and overall what Jung’s theoretical concept says about him.

Answers

Answer:

I had a friend named Frank. He is a good friend of mine.I know him for more than 40 years. He has been with me in all my struggles and my happiness.I am very lucky to have a friend like him. He is not only a good friend of mine he is a good human being.He is friendly and kind to all the people.He is a well behaved person and respectful for everyone he meet.From his childhood he has a burning desire to achieve in life.He studies well and gives 100% in whatever he do.He works passionate in whatever he does.I got all my confidence from him.He had supported my in all my studies and also motivated me to achieve in my life.He got a good family and supported his family and gave them the best as he can.Even after his death he made everything ready for his family so that they will not suffer from his loss.I have never met such a person in my life.I am very ,much thankful for them and really it is a nice platform for me to thank him and i am very happy to write about him.

Explanation:

I had a friend named Frank. He is a good friend of mine.I know him for more than 40 years. He has been with me in all my struggles and my happiness.I am very lucky to have a friend like him. He is not only a good friend of mine he is a good human being.He is friendly and kind to all the people.He is a well behaved person and respectful for everyone he meet.From his childhood he has a burning desire to achieve in life.He studies well and gives 100% in whatever he do.He works passionate in whatever he does.I got all my confidence from him.He had supported my in all my studies and also motivated me to achieve in my life.He got a good family and supported his family and gave them the best as he can.Even after his death he made everything ready for his family so that they will not suffer from his loss.I have never met such a person in my life.I am very ,much thankful for them and really it is a nice platform for me to thank him and i am very happy to write about him.

Suppose an economy starts the year with $100 million in capital, and during the course of a year, it adds $20 million of gross investment. Economists estimate that the depreciation rate for this economy is 9% per year.

Required:
a. Calculate depreciation and net investment for this economy.
b. Calculate the value of net exports.

Answers

Answer:

Correct word for question b. "Now calculate the amount of next year's beginning capital stock for this economy"

a. Begins the year with $100 million in capital. Depreciation rate is 9% per year

Depreciation = 9% * $100 million

Depreciation = 0.09 * $100 million\

Depreciation = $9 million

Gross investment = $20 million

Net investment = Gross investment - Depreciation

Net investment = $20 million - $9 million

Net investment = $11 million

b. Next year begining capital stock = Capital stock at the begining of previous year + Net investment

Next year begining capital stock = $100 million  + $11 million

Next year begining capital stock = $111 million

May 31, Novac Corp. Has net sales of $415,000 in cost of goods available for sale of $286,000 compute the estimated cost of the ending inventory assuming the gross profit rate is 37%

Answers

Answer:

$24,550

Explanation:

Computation for the estimated cost of the ending inventory

Net Sales = $415,000

Gross Profit rate= 37%

Cost of goods Sold = 100%- 37% = 63%

Cost of Goods Sold =$415,000*63% = $261,450

Cost of Goods Available for sale = $286,000

Using this formula

Estimated Cost of Ending Inventory= Cost of goods available for sale - Cost of Goods Sold

Let plug in the formula

Estimated Cost of Ending Inventory = $286,000-$261,450

Estimated Cost of Ending Inventory = $24,550

Therefore the estimated cost of the ending inventory is $24,550

Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period. $120,000; monthly payments for 7 years; interest rate 7%. g

Answers

Answer:

$1,104.68  

Explanation:

The payment applicable to the future value of the annuity due can be determined using the future value formula for the annuity due provided below by rearranging the formula such payment is made the subject:

FV=monthly payment*(1+r)^n-1/r*(1+r)

FV=future value=$120,000

monthly payment=unknown(let us assume it is MP)

r=monthly interest rate=7%/12=0.005833333

n=number of monthly payments in 7 years=7*12=84

$120,000=MP*(1+0.005833333)^84-1/0.005833333*(1+0.005833333)

$120,000=MP*(1.005833333)^84-1/0.005833333*(1.005833333)

$120,000=MP*(1.629994009 -1)/0.005833333*1.005833333

$120,000=MP*0.629994009 /0.005833333*1.005833333

$120,000=MP*108.628973152

MP=$120,000/108.628973152

MP=$1,104.68  

A company has total revenue of $50,000,000, cost of sales of $40,000,000, operating expenses of $5,000,000, and financing costs of $2,000,000. What are earnings per share if the company has 100,000 shares outstanding and no preferred stockholders

Answers

Answer:

$30

Explanation:

Earnings per share = earnings / total outstanding shares

Earnings = total revenue - total cost

total cost = $40,000,000 + $5,000,000 + $2,000,000 = $47,000,000

Earnings = $50,000,000 - $47,000,000 = $3,000,000

Earnings per share = $3,000,000 / 100,000 = $30

An organization's budget program should not be used: Group of answer choices to motivate employees. to assign blame to managers that do not meet budgetary goals. to help evaluate managers. to allocate resources to the various parts of an organization.

Answers

Answer:

to assign blame to managers that do not meet budgetary goals.

Explanation:

A budget is used to forecast a company's income and expenses over a specified period.

Uses of a budget

1. It is used to evaluate the performance of managers in meeting the amounts stated in the budget

2. It is also used in allocating resources to the various parts of an organization. for example, units that have been forecasted to earn a higher revenue would receive a higher part of the budget

3. It is used to develop an action plan for the organisation

what is the good that you have selected?

Answers

Answer:

what do you mean by that

Explanation:

can you please explain more of the question

Jill and Kane, with their attorneys, meet to try to resolve a dispute. A neutral third party works with both sides and proposes a solution, but does not make a decision resolving the matter. This is:____.
a. arbitration.
b. negotiation.
c. mini-trial.
d. mediation.

Answers

Answer:

Option d: Mediation

Explanation:

Alternative dispute resolution (ADR)

This is simply known as other processes of managing or resolving conflicts than the use of traditional Court processes or litigation. There are three methods of ADR. it includes:

1. Negotiation

2. Mediation

3. Arbitration

Mediation

This is simply known as a type  of an ADR where a neutral third party helps to quickens the communication process between the conflicting parties so that they can work out their own mutually acceptable agreement.

Mediators

This are people who are part of the mediation. They are regarded as an unbiased facilitators of communication usually between the parties in a private setting.They do not decision-making power with respect to the outcome of the mediation. A neutral person in this case is regarded as an individual who is not in support of either party in the conflict and they are often called the mediator.

On September 1, 2021, Hiker Shoes issued a $100,000, 8-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate is 9% Hiker's effective interest rate on this loan (rounded) is: (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
A. 9.0%.
B. 9.5%
C. 9.6%.
D. 9.7%

Answers

Answer:

C. 9.6%.

Explanation:

Our first task in this would be to determine the amount at which the note was issued using the discount rate

PV=FV-(FV*discount rate*8/12)

PV=$100,000-($100,000*9%*8/12)

PV=$94,000

interest rate=($100,000-$94,000)/$94,000

interest rate=6.38%(for 8 months)

Effective interest rate=6.38%/8*12

effective interest rate=9.6%

April 1 April 30 Raw materials inventory $10,500 $13,500 Work in process inventory 5,350 3,770 Materials purchased in April $98,100 Direct labor in April 80,300 Manufacturing overhead in April 160,000 Prepare the cost of goods manufactured schedule for the month of April

Answers

Answer:

cost of goods manufactured= $336,980

Explanation:

First, we need to calculate the direct material used:

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 10,500 + 98,100 - 13,500

Direct material used= $95,100

Now, the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 5,350 + 95,100 + 80,300 + 160,000 - 3,770

cost of goods manufactured= $336,980

Which 3 statements about the Client request functionality are correct? Selecting Create client request on the Work screen begins the process Checking the Notify client checkbox means the client will be sent an email You can't add attachments to a client request You can request documents from a non-QuickBooks Online client To update the status of a client request, select the request and then the Status drop-down

Answers

Answer: • Selecting Create client request on the Work screen begins the process.

• Checking the Notify client checkbox means the client will be sent an email.

• To update the status of a client request, select the request and then the Status drop-down.

Explanation:

QuickBooks refers to an online accounting software that's utilized by several businesses and can be used in the request of information from ones clients.

From the options given, the statements about the client request functionality which are correct include:

• Selecting Create client request on the Work screen begins the process.

• Checking the Notify client checkbox means the client will be sent an email.

• To update the status of a client request, select the request and then the Status drop-down.

Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who have authority to make investments as needed, are evaluated based largely on return on investment (ROI). The company's Springfield Club reported the following results for the past year:

Sales $780,000
Net operating income $17,940
Average operating assets $100,000


The following questions are to be considered independently.

Required:
Compute the Springfield club's return on investment (ROI).

Answers

Answer:Springfield club's return on investment (ROI) is 17.94%

Explanation:

Return on investment (ROI) is given as the ratio of the net operating income to average operating assets and  expressed in percentage .

ROI = Net operating income / Average operating assets

Given that

Net operating income =$17,940

Average operating assets = $100,000

ROI = $17,940/ $100,000 = 0.1794, 17.94%

Therefore, the the Springfield club's return on investment (ROI) is 17.94%

If 11 workers can produce a total of 54 units of a product and a 12th worker has a marginal product of 6 units, then the average product of 12 workers is:

Answers

Answer:

the average product of 12 workers is 5

Explanation:

The computation of the average product of 12 workers is shown below:

= (Number of units of a product in the case of 11th workers + marginal product of units in 12th worker) ÷ number of workers

= (54 + 6) ÷ 12

= 5

Hence, the average product of 12 workers is 5

The same is to be considered

MC Qu. 157 McCoy Brothers manufactures and sells... McCoy Brothers manufactures and sells two products, A and Z in the ratio of 5:2. Product A sells for $84; Z sells for $105. Variable costs for product A are $41; for Z $45. Fixed costs are $482,400. Compute the number of units of Product A McCoy must sell to break even.

Answers

Answer:

7,200 units

Explanation:

The computation of the no of units for break even for product A is given below:

But before that the contribution margin for the sales mix is

Particulars                 product A     product Z

Selling price           $84                 $105

Less:

variable cost          -$41                 -$45

Contribution margin $43               $60

Sales mix                  5                     2

CM sales mix             $215            $120

Total                                 $335

Now the break even sales in total is

= $482,400 ÷ 335

= 1,440 units

Now for product A, it is

= 1,440 × 5

= 7,200 units

On March 29, a customer who owes $14,611 on account to Sonic Sales Company submits a payment of $7,547. Journalize this transaction.

Answers

Answer and Explanation:

The journal entry is given below:

Cash $7,547

          To Accounts Receivable $7,547

(Being cash collection is recorded)

Here cash is debited as it increased the assets and credited the account receivable as it decreased the assets

The same should be considered and relevant

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