Answer: The answer is $ 1266.
Explanation: If the commission rate is 6%
The commission is = 105500. 0.06 = 6330
40% is for the listing broker = 6330. 0.4 = 2532
And half is for his salesperson = 2532/2 = 1266.
The listing salesperson receive from this sale $ 1266.
<u>Solution and Explanation:</u>
<u>The following calculation is made in order to find out the value of sales tax which is payable</u>
Sales including the sales tax = $8,400
Sales tax rate = 5%
Sales Tax ![[\$ 8400 / 105 \% \times 5 \%]](https://tex.z-dn.net/?f=%5B%5C%24%208400%20%2F%20105%20%5C%25%20%5Ctimes%205%20%5C%25%5D)
= $400
Sales ![[\$ 8400 / 105 \% \times 100 \%]](https://tex.z-dn.net/?f=%5B%5C%24%208400%20%2F%20105%20%5C%25%20%5Ctimes%20100%20%5C%25%5D)
= $8,000
Sales Tax payable = $400
<u>The following Journal Entry will be passed in the books of accounts</u>
Date Account Title Debit Credit
Mar 16 Cash $8,400
Sales $8,000
Sales Tax Payable $40
James Wilson could achieve this objective by focusing on both cost reduction and revenue enhancement
What is Cost reduction?
Cost reduction is the procedure of lowering a business's expenses in order to increase profits. It entails locating and eliminating expenses that don't benefit customers in any way, as well as streamlining operations to increase productivity.
What is revenue enhancement?
The objective of any successful revenue enhancement strategy is to build and improve on current payment levels and then recover arrear debt. As indicated, this document seeks to identify causes for non-payment and to develop a strategy to address those challenges.
Learn more about Cost reduction and revenue enhancement here:
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Narrative paragraph=when we were children we live near a creek,One winter when I was six and my brother was about three,we decide to sneak out of the house and go chop ice cream .
Persuasive paragraph=discussion,argument and review.
Answer: See explanation
Explanation:
Triton Consulting Income Statement For the Year Ended April 30, 20Y3:
Fees earned 279000
Less: Expenses:
Salary expenses = 242000
Supplies expenses 1650
Depreciation expense. 900
Miscellaneous expenses 2000
Total expense = 246550
Net income 32450
Triton Consulting Balance Sheet April 30, 20Y3
Assets
Current assets
Cash 21500
Account receivable 51150
Supplies 750
Total current asset = 73400
Property, plant and equipments
Office equipment 32000
Accumulated Depreciation 5400
Total property,plant and equipment = 26600
Total asset = 100,000
Liabilities
Current liabilities:
Account payable: 3350
Salary payable: 2000
Total liabilities = 5350
Stockholders equity
Common stock 20000
Retained earnings 74650
Total stockholders equity = 94650
Total liability and stockholders equity = 100,000
