The Magic Cow accepts MasterCard. A customer made a $10,000 purchase using MasterCard. MasterCard charges Magic Cow 4% of sales as a service fee. Prepare the entry to record the sale including account titles and amounts
Shareholders' equity
Assets Liab. CC Retained earnings
Shareholders' equity
Assets Liab. CC Retained earnings
+ 9,600 Accounts receivable - Mastercard +10,000 Sales
(400) Credit card expense
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Jane takes her car to Joe's Garage, leaving it there for repairs. Ted, one of Joe's employees, takes
the car for a joy ride, without Joe's permission. In fact, Joe has a very strict rule that his employees cannot drive customers' cars except to diagnose or test them. Ted crashes into another car, driven by Mary. Mary is injured and sues Jane, Ted, and Joe. Which of the following is true? A) Only Ted is liable B) Only Joe is liable C) Only Ted and Joe are liable D) Jane, Ted, and Joe are all liable E) Only Jane and Ted are liable
According to the information provided in Table 12-1, what is the average time spent by a person in this system?
A) 0.058 minute B) 1.646 minutes C) 0.521 minute D) 0.183 minute E) None of the above