Answer:
Account Receivables 1,736 debit
Sales Revenue 1,600 credit
sales tax payable 136 credit
Explanation:
The company will charge to the 1,600 sale the sales tax :
1,600 x (0.06 state + 0.025 local) = 136
the salestax is levied in the consumer not the firm thus it is not an expense the company is just an intermediary between the government and the consumer.
Different factors contribute to commerce including the export and import of a country, their ease of doing business and their own situation in the market.
Explanation:
The factors that affect commerce are the ones that dictate the face of a given market. if the market is considered easy to trade in then the commerce is supposed to be easy and smooth flowing
This is hampered by laws and the import and export tariffs of a country. The more inviting these are the more commerce happens in a place.
It also depends on how many businesses are able to function in the setup and the more businesses there are the more commerce happens in the end.
Answer:
The most likely result at trial is that the landowner's claim for specific performance will be successful, and she will be awarded the entire price of contract.
Explanation:
When there isn't a statute, the buyer bears the risk of loss when property subject to a contract for sale is destroyed without fault of any party prior to the date specified for closing. Unless the contract specifies otherwise, the buyer must pay the contract price even if the property is damaged by fire.
The inn was burned down in this case after the landowner and the buyer signed a contract for the sale of the property, but before the closing date. The contract appears to be silent on the risk of loss, and no appropriate statute exists. As a result of the common law rule, the buyer bears the risk of loss. Therefore, the landowner has the right to particular execution of the contract, which implies that the entire stipulated contract price must be paid by the buyer.
Regardless of the property's drop in worth owing to the fire, the $1 million contract price must be paid by the buyer because he bears the risk of loss.
Therefore, the most likely result at trial is that the landowner's claim for specific performance will be successful, and she will be awarded the entire price of contract.
Answer:
The correct answer is letter "D": To personally guarantee loans of the business.
Explanation:
Accounting is the recording of financial transactions of a business or organization. It also includes the process of summarizing, analyzing and reporting these transactions -given a method- in financial statements. The financial statements that accountants create provide critical information for many key people such as managers, stakeholders, and the corresponding agencies of the government.
However, <em>securing a loan for a company will rely on the credit history of the institution which directly does not involve one of the functions of corporate accounting.</em>
