Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 18 of 29 -12 B View Policies Current Attempt in Progress Whispering Winds Corp. accepted a national credit card for a $9900 purchase. The

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Question 18 of 29 -12 B View Policies Current Attempt in Progress Whispering Winds Corp. accepted a national credit card for a $9900 purchase. The cost of the goods sold is $5900. The credit card company charges a 4% fee. What is the impact of this transaction on net operating income? O Increase by $3874. O Increase by $3604 Increase by $10804. Increase by $3820. Tamarisk, Inc receives a $18000, 3-month, 9% promissory note from Nash's Trading Post, LLC in settlement of an open accounts receivable. What entry will Tamarisk. Inc, make upon receiving the note? 18405 O Notes Receivable Accounts Receivable-Nash's Trading Post, LLC 18000 Interest Revenue 405 O Notes Receivable 18405 Accounts Receivable-Nash's Trading Post, LLC 18405 18000 Notes Receivable Accounts Receivable-Nash's Trading Post, LLC 18000 18000 405 Notes Receivable Interest Receivable Accounts Receivable-Nash's Trading Post, LLC Interest Revenue 18000 405 Question 6 of 29 -/2 E View Policies Current Attempt in Progress Pina Colada Corp. had the following records: 2021 Ending inventory Cost of goods sold 2022 $33850 214600 $30990 202040 What is Pina's inventory turnover for 2022? (rounded) 6.3 times O 6.2 times 6.9 times 0 6.6 times Question 1 of 29 -/2 E View Policies Current Attempt in Progress Carla Vista Corporation purchases $1600 of merchandise on account from Enterprise Company, terms S/10./30. Carla Vista and Enterprise both use periodic inventory systems. Carla Vista's entry record this transaction is: 1600 Purchases Accounts Payable 1600 1600 Inventory Accounts Payable 1600 1600 Accounts Payable Purchases 1600 1600 Accounts Payable Inventory 1600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

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

Recommended Textbook for

Exploring Public Relations Global Strategic Communication

Authors: Ralph Tench, Liz Yeomans

4th Edition

1292112182, 9781292112183

More Books

Students also viewed these Accounting questions