The Answer Is In Fact "Liquefaction".
Hope I Helped :)
A transaction is any monetary business event that impacts a business's financial statements.
<h3>The journal entries </h3>
The journal entries are as follows
On August 4
Account Receivable $610
To Sales Revenue $610
(Being the goods sold on credit basis is recorded)
On August 7
Sales Return and Allowances $60
To Accounts Receivable $60
(Being the sales allowance is recorded)
On August 12
Sales Discount $11
Cash $539
To Accounts Receivable $550
(Being the amount paid is recorded after considering the 2% discount
To learn more about financial statements visit the link
brainly.com/question/14951563
#SPJ4
Answer:
The correct answer is B: $5,600
Explanation:
Giving the following information:
Schager Company purchased a computer system for $40,000. The estimated useful life is 10 years, and the estimated residual value is $5,000.
Double-declining balance method= Netbook value* (2/useful life in years)
Year 1:
Double-declining balance method= (40000-5000)*(2/10)= $7000
Year 2:
Double-declining balance method= (35000-7000)*0.20= $5,600
The simplified method of computing home office expenses limits the number of home office expenses allowed to a fixed amount regardless of the amount of business income or the size of the home office.
<h3>How do you calculate home office deductions?</h3>
A business owner can calculate the home office deduction in two ways: regular and simplified. The regular method would require you to use Form 8829 to calculate your deduction, which would include figures for the area of your home and the total hours it was used for business purposes, your business income, and other business expenses.
If you itemize deductions and use the simplified method for a taxable year, you can deduct home expenses that would otherwise be deductible as itemized deductions on Form 1040 or 1040-SR, Schedule A, without reducing these expenses by the amounts allocable to the simplified method.
Learn more about home office deductions here:
brainly.com/question/13073712
#SPJ1
Answer: $10,800
Explanation:
In the above scenario it is worthy of note that the company is the one that pays for Federal and State Unemployment tax.
That means that the employees pay for Federal income tax withheld at $4,000, Social security at 6% and Medicare at 1.5%.
Calculating salaries payable therefore would be,
= 16,000 - 4,000 - (16,000 * 6%) - (16,000 * 1.5%)
= $10,800
Salaries Payable would be recorded at $10,800.
