Answer:
$5,603
Explanation:
The calculation of Interest Expense is shown below:-
Interest made accrued on Dec 31, 2018 = Services issued × Stated rate × Remaining months ÷ Number of Months in a year
= $305,000 × 11% × 2 ÷ 12
= $305,000 × 11% × 0.167
= $5,603
Therefore for computing the Interest Expense we simply applied the above formula.
Answer:
The correct answer is B. 6.000
Explanation:
Gross profit only includes Sales Revenues and cost of goods sold. So you have to ignore all others. In this case the solution is given for Sales Revenues 10.000 - cost of goods sold 4.000 = Gross profit 6.000. Hope it helps
Answer:
Explanation:
1. The journal entries are shown below:
On December 1
Cash A/c Dr $1,260
To Deferred Service Revenue $1,260
(Being cash is received)
On December 31, 2016
Deferred Service Revenue $420 ($1,260 ÷ 3 months)
To Service revenue $420
(Being service revenue is recorded)
2. Income statement
Earned income from car washing services $420
Balance sheet
Assets
Cash $1,260
Liabilities
Deferred Service Revenue $840 ($1,260 - $420)
The correct answer to this open question is the following.
Here we do not have a question. Just a statement.
What is your question? What do you want to know?
However, trying to help you we can comment on the following.
If the government announces it will impose an indirect tax on the price of petrol because it wants to discourage travel by car and encourage the use of bus and rail services instead, it had to make sure that the impact will have the expected benefits because that could not always be the case.
Some other considerations need to be made for this to happen. For instance, if the government wants to dissuade people to use their cars, the government has to make sure that the public transportation system is in optimal conditions, it is safe to ride, and can guarantee the transportation times for people to be on time in their jobs.
Otherwise, people will still be driving their cars because they think that using cars is a more safe and better way to travel.
Public transportation also has to comply with strict pollution emissions controls.