Norton Company has accounts receivable of $40,000 in its general ledger at July 31: During August, the following transactions occurred. Aug. 1 Added 1% finance charges to $13,000 of credit card balances for not paying within the 30 day grace period. 15 Sold $21,000 of accounts receivable to Iron Factors Inc. who charge a 4% commission. 28 Collected $8,000 from Norton credit card customers which included $400 of finance charges previously billed.
Required:
a. Journalize the transactions.
b. Indicate the statement presentation of finance and service charges.

1.The journal entries to record the transactions of Norton Company during August are as follows:

Aug. 1 Debit Interest Receivable $130

Credit Interest Revenue $130

Aug. 15 Debit Accounts Receivable (Iron Factors Inc.) $20,160

Debit Sales Commission $840

Credit Sales Revenue $21,000

4% commission.

Aug. 28 Debit Cash $8,000

Credit Accounts Receivable (Norton credit card) $7,600

Credit Interest Receivable $400

2. The statement presentation of finance and service charges is as follows:

Interest revenue $130 (Credit)

Sales commission $840 (Debit)

Accounts receivable at July 31 = $40,000

Aug. 1 1% finance charges to $13,000 = $130 ($13,000 x 1%)

Aug. 1 Interest Receivable $130 Interest Revenue (finance charges) $130

Aug. 15 Accounts Receivable (Iron Factors Inc.) $20,160 Sales Commission $840 Sales Revenue $21,000

4% commission.

Aug. 28 Cash $8,000 Accounts Receivable (Norton credit card) $7,600 Interest Receivable $400

Learn more about journalizing transactions at https://brainly.com/question/17201601

Agricultural managers need, at the bare minimum, what kind of degree in order to obtain their first job in that role?

A: Associates degree
B: Bachelors degree
C: Doctorate degree
D: Masters degree

The variance analysis cycle ______. Multiple choice question. begins with the preparation of the budget includes the investigation of all variances begins with the preparation of performance reports is used to assign blame for poor performance

how can both stocks and bonds generate a positive return for investors
A. paying dividends
B. Paying Interest
C. Tax Deduction
D. Price Appreciation

An investment firm provides its customers mobile applications that significantly simplify traditional investing activities. For example, a customer can purchase a stock by utilizing their phone or tablet. This unique service demonstrates the firm’s desire to practice which of Porter’s strategies?

A new accountant mistakenly classified some capital expenditures as revenue expenditures. What is the outcome of this error

Part 1: Effective Communication
Write a 150- to 200-word response to the following scenario and questions:
Your class requires you to use a program you must download on your computer. You have waited until day 5 of the week to download the program, and you need it for an assignment that is due in 2 days. Now you are having issues with the program.
• How do you approach solving this problem?
• Whom would you contact first, and why?
• What are the resources available to support you when obstacles arise?
• Why is effective communication important in linking you to these resources?


Part 2: College Writing Process
Write a 150- to 200-word response to the following questions:
• When you have an essay due in an upcoming course, how will you manage your time to ensure you are able to complete all 5 steps of the writing process (prewriting, organization, drafting, revising, and editing)?
• How can you apply what you have learned about the college writing process to enhance the effectiveness of your written communication in the workplace?



Part 3: Academic Integrity
Access the Center for Writing Excellence.
Review the following resources under the Academic Integrity heading:
• Plagiarism Tutorial
• Student Code of Academic Integrity
• APA Style: Plagiarism Guide

Write a 150- to 200-word response to the following questions:
• What are 2 examples of violations of the Student Code of Academic Integrity?
• What resources on plagiarism available to you as a student would be most useful in preventing each of these 2 examples of violations?
• Why is integrity important in your professional life?
• How do you put integrity into practice in your professional life?

Which of the following are considered "free money" when it comes to
financing higher education?
Loans
Work-study programs
Military programs
Scholarships and grants

On December 31, 2015, Sarasota Co. performed environmental consulting services for Hayden Co. Hayden was short of cash, and Sarasota Co. agreed to accept a $160,000 zero-interest-bearing note due December 31, 2017, as payment in full. Hayden is somewhat of a credit risk and typically borrows funds at a rate of 11%. Sarasota is much more creditworthy and has various lines of credit at 6%. Required:
a. Prepare the journal entry to record the transaction of December 31, 2015, for Tran Co. b. Assuming Tran Co.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2016. c. Assuming Tran Co.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2017.

Why is it necessary to clean vent hood filters on a regular basis?
A.It makes the air cooler
B.It prevents the buildup of grease that could drip into food
C.It prevents a pest infestation
D.It helps the food cook more evenly

When an installment note is issued, the journal entry will include a __________ to __________.

a. debit; Notes Payable
b. debit; Cash
c. credit; Cash
d. credit; Notes Receivable

Hector a Maria have been married for almost one year now and are thinking about buying a house. Maria is an executive for a​ large, multinational corporation with offices around the world. She has been told by her company that she will be transferred to a new location every three years. Hector is a car salesman and he is willing to move to wherever Maria gets transferred. Together they make​ $8,000 in gross monthly income and pay​ 40% in taxes and withholdings every month. Between them they have monthly payment of​ $400 in student loans and​ $700 in car​ loans, and their credit cards payments average​ $450 per month. They currently lease a luxury condo for​ $1,400 per month. They travel to Cancun every Christmas. Since they both work a lot of​ hours, they eat out at restaurants for most meals. They currently have nothing in savings but​ Hector's grandparents have said they will give them a​ 20% down payment for the new home. Assuming a PITI of approximately​ $1,300 for the​ townhouse, will they be approved for a​ mortgage?

Petropoulos Resorts common stock sells for $58.49 per share and pays an annual dividend that increases by 1.3 percent annually. The market rate of return on this stock is 12.6 percent. What is the amount of the last dividend paid

A physical count of merchandise inventory on November 30 reveals that there are 82 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 25 units from each of the three purchases and 7 units from the November 1 inventory, cost of goods sold is

The Loan Payable account is a/an
a. Asset
b. Liability
c. Revenue
d. Expense

Note Receivable is a/an
a. Asset
b. Liability
c. Revenue
d. Expense

HELP PLEASEEE 15 POINTS FOR THISSS

1. A career ______ lets you present documents that highlight your skills, interests and
abilities.

A. journal

B. examples

C. portfolio


2. Awards and certificates, report cards and transcripts and samples of work are all ___________ in a portfolio

A.fossils

B.artifacts

C.workbooks

3. An actual folder that holds printed documents is known as a hard copy portfolio

A. yes

B. no

4. An e-portfolio is something where you can store digital files

A. no

B. yes

5. There are ______ main types of portfolios

A. 4

B. 2

C. 3

During May, 2021, Breakfront Corporation announced a 2-for-1 stock split. This brought the number of shares outstanding from 25,000,000 shares to _____ shares, and its $2.00 par value to _____ per share.

BUS208 Case Studies in Business Administration
Case #2

1. Select ONE of the following (a through g).

a. A professional sports team
b. A gaming system company
c. An airline company
d. A consumer retail store
e. An automobile company
f. A computer company

2. Select a specific example of that category. For example, if you chose “a professional sports team,” you could select one of the following: Giants, Jets, Mets, Nets, Yankees, etc. Indicate the specific example you selected:

American AirLines

3. Analyze the external organizational environment for your choice. Identify at least TWO and preferably THREE aspects of EACH of the following that your choice must consider:

a. General environment

i. International dimension

1.American Airlines is the largest airline in 2020.
2. American Airlines traveled 240 destinations in the U.S, Canada,
The Caribbean and Mexico.
3.American airlines headquarters is in dallas fort worth.

ii. Technological dimension

1.Electronic wallet
2. Mobile ID
3.Virtual Assistant

iii. Sociocultural dimension

1.Ethics and human rights(provide the director with a report for unethic)
2.Sustainability and climate change
3.Give customer a great experience

(continued)


iv. Economic dimension

1.Boarding with 1 carry on & one personal item.
2.AAdvantage credit card member.


v. Legal-political dimension





b. Task environment

i. Customers





ii. Competitors





iii. Suppliers





iv. Labor market





(continued)


4. Conduct a situation analysis using a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis that assesses the environment for your selected organization.

A SWOT analysis is categorizing the information that you gathered in the environmental analysis that you performed in the first half of this case. Some of the information you listed may not qualify as a strength, weakness, opportunity, or threat, however – it may be neutral. You should have at least TWO items EACH for strengths, weaknesses, opportunities, and threats and preferably THREE aspects for at least two of these.

Positive Negative
Internal Strengths:











Weaknesses:
External Opportunities:













Threats:

Which of the maturity lengths between the bonds, bills, and notes would be most advantageous during a bear market?

Which of these would Congress look to do during a recession, as it pertains to fiscal policy?
a. Raise taxes
b. Raise government spending
c. Decrease the discount rate
d. Print more money

what is a informal business structure

What are the ethical considerations in this case

Which of the following does NOT influence the effectiveness of a chemical sanitizer solution?

Concentration
Temperature
Cost
Contact time

Part of the job for an architectural designer is obtaining which of the following from different contractors for a construction project?

A: A business license
B: A bid
C: Permission

What report compares metrics based on user acquisition date over a series of weeks?.

Discuss the external factors that may affect law
​

please help me, I'll give brainliest ​

Question 5 of 20
If you invest your money today, your future purchasing power will most likely
A. go up and down
B. stay the same
C. increase
O D. decrease
SUBMIT

TRUE OR FALSE - ACCOUNTING (100 POINTS)
IF FALSE EXPLAIN WHY

1. The Dividends account is an expense.
2. A credit to the cash account will increase the account.
3. Liabilities are debts owed by the business entity.
4. Revenue is the Income Statement account credited when selling services or products to customers.
5. When an account receivable is collected in cash, the total assets of the business increase.
6. When a business receives a bill from the utility company, no entry should be made until the invoice is paid.
7. The revenue recognition principle states that revenue should be recorded when the cash is received from the customer.
8. An example of deferred revenue is Unearned Car Insurance Premium Revenue on an insurance company’s balance sheet.
9. A company’s accounts receivable represents an amount that the company will collect in the future from customers.
10. An adjusting entry would adjust revenue so it is reported when earned and not when the cash was received.

Devon is accused of robbing a jewelry store and is summarily thrown in jail. Which law or principle of law will help Devon in this situation?

Chipman Sofware recently reported the following amounts in its unadjusted trial balance at its year-end:

1. Prepare the adjusting journal entry required for the year. Assume Chipman uses 1/2 of 1 percent of sales to estimate its Bad Debt Expense for the year and no Bad Debt Expense has been recorded yet.

2. Prepare the adjusting journal entry required for the year. Assume instead that Chipman uses the aging of accounts receivable method and estimates that $82 of its Accounts Receivable will be uncollectible.

3. Assume instead that Chipman uses the aging of accounts receivable method and estimates that $82 of its Accounts Receivable will be uncollectible. Prepare the year-end adjusting journal entry for recording Bad Debt Expense. Assume Chipman's year-end unadjusted balance in Allowance for Doubtful Accounts was a debit balance of $22.

4. If one of Chipman's main customers declared bankruptcy after year-end, what journal entry would be used to write off its $20 balance?