Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

7. On October 15, Katz billed clients $25,000 for services provided. How would this transaction be reflected in Katzs accounting records? Group of answer choices

7. On October 15, Katz billed clients $25,000 for services provided. How would this transaction be reflected in Katzs accounting records?

Group of answer choices

A. Increase to Revenue of $25,000; increase to Accounts Receivable of $25,000.

B. No entry is recorded.

C. Increase to Cash of $25,000; decrease to Accounts Receivable of $25,000.

D. Increase to Revenue of $25,000; increase to Cash of $25,000.

10. Deeno Products manufactures one product that sells for $45. The variable cost per unit is $30. The total fixed costs incurred by Deeno are $360,000, and the break-even point in sales units is 24,000. If Deeno invests in additional advertising that will cost the company $30,000, how many additional units would need to be sold in order to break even?

Group of answer choices

A. 2,000 units

B. 1,000 units

C. 26,000 units

D. 0 units

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions