A company had the following sales transactions Total debit card sales $300,000 Total credit card sales $490,000 Total cash sales $890,000 Total check sales $150,000 There is a charge of 4 on all credit card transactions Calculate total sales revenue recorded for the year

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Mar 21, 2024

A company had the following sales transactions: Total debit card sales = $300,000. Total credit card sales = $490,000. Total cash sales = $890,000. Total

A company had the following sales transactions:

Total debit card sales = $300,000.
Total credit card sales = $490,000.
Total cash sales = $890,000.
Total check sales = $150,000.

There is a charge of 4% on all credit card transactions.

Calculate total sales revenue recorded for the year?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the total sales revenue recorded for the year we need to consid... blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Financial Accounting

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

3rd edition

9780077506902, 78025540, 77506901, 978-0078025549

More Books

Students also viewed these Accounting questions

Question

★★★★★

Assume you spend $1 million USD to create an arbitrage trading strategy. What is your profit is USD. Remember to consider the profit after you pay back your loan.

Answered: 1 week ago

Question

★★★★★

7) The second financial statement to prepare is the statement of retained eamings. To determine the ending balance of retained earnings you need to start with the opening balance as reported in the...

Answered: 1 week ago

Question

★★★★★

A company had the following transactions during its most recent fiscal period: 1. A total of 5,000 shares were issued at $30 per share. 2. Equipment worth $120,000 was purchased for $80,000 cash and...

Answered: 1 week ago

Question

★★★★★

(1 point) Solve each equation for x: (A) Solve 4(x+4) = 8 for x. X = 1 (B) Solve In x + ln(x 4) = 2 for x. X =

Answered: 1 week ago

Question

★★★★★

It was stated that the grinding ratio, G, depends on the following factors: (1) Type of grinding wheel, (2) Workpiece hardness, (3) Wheel depth of cut, (4) Wheel and workpiece speeds, and (5) Type of...

Answered: 1 week ago

Question

★★★★★

What are the main telecommunications transmission media and types of networks?

Answered: 1 week ago

Question

★★★★★

Answered: 1 week ago

Question

★★★★★

Handy Home sells windows and doors in the ratio of 8:2 (windows: doors). The selling price of each window is $200 and of each door is $500. The variable cost of a window is $125 and of a door is...

Answered: 1 week ago

Question

★★★★★

5. A firm is starting a new project that will cost $200,000. It is projected to last 5 years and to generate cash flows of $50,000, $70,000, $90,000, $50,000 and $30,000 from Years 1 through 5...

Answered: 1 week ago

Question

★★★★★

select a company from below mentioned industries. Perform an external audit and prepare a report. Report should start from analytical procedure (last 10 years), identifying the unusual activity or...

Answered: 1 week ago

Question

★★★★★

For the equation y=-7x+3 answer the following questions: What are the x-intercept(s) written as ordered pair(s)? Note: If there is more than one write them separated by a comma (i.e.: (1,2), (3,4))....

Answered: 1 week ago

Question

★★★★★

2. Christmas shoppers that had purchased a gift in the first week of December were surveyed; fifty-seven said they purchased the gift in a store. Twenty-five said they shopped both online and in...

Answered: 1 week ago

Question

★★★★★

2. Rationalize each denominator. 53 e. 23+4 32 f. 23-5 3. Rationalize each numerator. 3-7 e. 4 23+ 7 f. 5 7. Calculate the slope of the tangent to each curve at the given point or value of x. 2 c. y=...

Answered: 1 week ago

Question

★★★★★

Develop a causal circle based on the following: Walmart has been receiving complaints regarding length of time spent waiting in line.

Answered: 1 week ago

Question

★★★★★

What would you consider specific information as opposed to passive information that may only help in a bind, Is there specific information that you would research for?

Answered: 1 week ago

Question

★★★★★

Ratio of Liabilities to Stockholders' Equity and Times Interest Earned thousands ) : \ table [ [ , Hasbro,Mattel ] , [ Liabilities: ] , [ Current liabilities,$ 1 , 6 1 7 , 8 5 9 , $ 1 , 5 0 5 , 5 7 3

Answered: 1 week ago

Question

★★★★★

Several months have passed and the Managing Partner approved and properly filed the Complaint and properly submitted the Request for Production of Documents that you drafted. In fact, it has been 75...

Answered: 1 week ago

Question

★★★★★

Waldo is planning to start a clothing store helping big and tall men blend in with the crowd. Explain to Waldo the advantages and disadvantages of a corporation in comparison to a sole proprietorship...

Answered: 1 week ago

Question

★★★★★

Refer to the information provided for Plasma Screens Corporation in E127. In E127, The balance sheets for Plasma Screens Corporation and additional information are provided below. Required: 1....

Answered: 1 week ago

Question

★★★★★

What are the essential characteristics of liabilities for purposes of financial reporting?

Answered: 1 week ago

Question

★★★★★

Stimuli that fall below the threshold of conscious awareness are called ________ stimuli. a. encoded b. automatic c. preconscious d. subliminal

Answered: 1 week ago

Question

★★★★★

In making a large pot of chili for a family reunion, you find that you have to add 1 onion to your pot of chili that already has 5 onions mixed in it to notice a difference. According to Webers Law,...

Answered: 1 week ago

Question

★★★★★

You detect the strong smell of cedar when you enter a furniture store. However, after a short while in the store, you no longer can detect the smell. This is likely due to a. accommodation. b....

Answered: 1 week ago

Previous Question Next Question