1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Pepsi [2]
2 years ago
11

On February 13, a jewelry store sells an engagement ring with a sales price of $10,000 to a nervous young man, who pays in cash.

The sale is subject to a 9.75 percent sales tax. Prepare the revenue portion of the journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
Andrej [43]2 years ago
8 0

Date       -     Account Title         -        Debit        -     Credit

Feb 13

                     Cash                        -      $10,975      -

                     Sales                       -                          -    $10,000

                     Sales Tax Payable -                          -     $975

What is a Drop-down menu?

A drop-down list (abbreviated drop-down, or DDL; also known as a drop-down menu, drop menu, pull-down list, picklist) is a graphical control element, similar to a list box, that allows the user to choose one value from a list.

When a drop-down list is inactive, it displays a single value. When activated, it displays (drops down) a list of values, from which the user may select one.

When the user selects a new value, the control reverts to its inactive state, displaying the selected value. It is often used in the design of graphical user interfaces, including web design.

To learn more about Drop-down menu: brainly.com/question/17116743

#SPJ4

                     

You might be interested in
Beranek Corp has $720,000 of assets (which equal total invested capital), and it uses no debt—it is financed only with common eq
lozanna [386]

Answer:

firm must borrow $288000 to achieve the target debt ratio

Explanation:

given data

assets = $720,000

debt to total capital ratio = 40%

to find out

How much must the firm borrow to achieve the target debt ratio

solution

we get here debt here by Debt to Total capital ratio that is express as

Debt to Total capital ratio = Debt ÷ (  Debt + Equity  )   ....................1

put here value we get debt

0.40 = \frac{debt}{720000}

debt = $288000

so firm must borrow $288000 to achieve the target debt ratio

7 0
3 years ago
If you were opening a savings account with compound interest, would you prefer an account that offers annual compounding, quarte
max2010maxim [7]
 <span>It is very simple. The more often it is compounded the better. So daily is the best, next is weekly, monthly etc. The greater the number of compounding periods, the better it is for your bottom line. 
With a savings account you are lending the bank money but with a mortgage they lend you money so conversely, you want as few compounding periods as possible. 
It works this way because at each break point to which they compound interest (ie.say monthly) they capitalize (add the interest earned to that point) into the investment and you earn interest on your interest for the next period as well as on the principal you started with (next month in this scenario) So the more often they include the interest earned into the calculation (compound periods) the greater the impact on growth. hope it helps
</span>
4 0
3 years ago
The partners share profits and losses in the ratio of 5:3:2, respectively. The partners agreed to dissolve the partnership after
vovangra [49]

Answer:

$30,000

Explanation:

The computation of the amount received by Janet is given below:

Loss on sale of other assets is

= $150,000 - $50,000

= $100,000

Share of Janet in loss is

= $100,000 × 5 ÷ 10

= $50,000

So,  

Janet revised capital balance is

= $80,000 - $50,000

= $30,000

6 0
2 years ago
A business entity operated and taxed like a partnership, but with limited liability for the owners, is called a:
Masteriza [31]

Answer: A. limited liability company.

Explanation:

A Limited Liability Company (LLC) is a type of company that is operated and taxed like a partnership for instance, profits that flow to the partners are taxed on the partner's income but not on the firm to prevent double taxation. This is called Flow-Through Taxation.

They operate with limited Liability for the owners because the owners are only personally liable for the debts and liabilities the company has up until the capital they invested. Anything past this and they cannot be held liable.

8 0
3 years ago
Early in 2022, Stevenson Incorporated switched to a JIT (just-in-time) inventory system. Financial information for the two most
gregori [183]

Answer:

3.8 times

Explanation:

Inventory turnover indicates how many times a company sells and replaces its stock of goods during a particular period. The formula for inventory turnover ratio is the cost of goods sold divided by the average inventory for the same period.

$ 320,000 / 63,000 = 5.1 times in 2022

$283,500 / 32,000 = 8.9 times in 2023

Therefore inventory turnover increase as a result of the switch to the JIT system by 8.9 times - 5.1 times = 3.8 times

5 0
3 years ago
Other questions:
  • The consumers union has proved effective in forcing businesses to change unethical behavior
    5·1 answer
  • How did Shakespeare save the life of an inmate, literally and figuratively
    12·2 answers
  • Who knows the answer? I will give you brainliest points?
    5·1 answer
  • Week 3 and week 4 calculation and explanation required
    12·1 answer
  • Generally, State A may exercise "long arm" jurisdiction over a defendant located in State B if the defendant:________. a. once r
    8·1 answer
  • Open market operations:___________.
    7·1 answer
  • In the real world, we find that dividends Group of answer choices Tend to be a lower percentage of earnings for mature firms. Ar
    12·1 answer
  • Suppose a bank has $600 million in deposits and $30 million in required reserves, and it is holding no excess reserves. What is
    15·1 answer
  • Sam received $10.50 in interest after placing money in his bank. if the account paid 4% in simple interest and he only left it i
    14·1 answer
  • How can a company´s salespeople help with product development?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!