Answer:
Date General Ledger Dr. Cr.
1. September 30 Cash $6,300
Sales Tax Payable $300
Sales $6,000
2. September 30 Cost of Goods Sold $3,900
Merchandise Inventory $3,900
3. October 15 Sales Tax Payable $300
Cash $300
Explanation:
Sales Tax is subject to the price of merchandise. Sales tax is collected by the business on the taxable supplies on the behalf of government and paid to the government.
Sales tax amount = 6,000 x 5% = $300
Cost of Merchandise is recorded as cost of goods sold and deducted from the merchandise inventory.
Answer: - Find out why they didn't come back; Work on feedback; Be Creative; Maintain a good customer relationship
Explanation:
Handling businesses is a great task for any business owner or entrepreneur. When the sales no longer cone in as they do, many owners tend to quit and move on to something else, here are four ways or things owners can do to regain their loyal customers;
- Find out why they didn't come back; this can be done by carrying out a questionnaire, and sending them to the customer's.
- Work on feedback; when they respond to the questionnaire, it's time to work on what they complain about.
- Be Creative; whatever their feedback would be it'll be advisable to employ creativity to what you've been doing and do them better.
- Maintain a good customer relationship; this helps you be in the same phase with your customers.
Answer:
$36,000 increase
Explanation:
For computing the increase or decrease in income, first we have to determine the net cash outflow which is shown below:
Net cash outflow = Purchase of new spotter truck - sale value of old truck
= $120,000 - $31,000
= $89,000
Now the increase or decrease would be
= Variable manufacturing cost for five years - net cash outflow
= $25,000 × 5 years - $89,000
= $125,000 - $89,000
= $36,000 increase