Answer : rent to own business !
shes paying for her to own it but still gets to take it home
Answer:
Journal Entry
General Ledger Dr. Cr.
Cash $7,085
Sales Tax Payable $585
Sales $6,500
Explanation:
Sales tax is the amount of tax collected by the business on the taxable sales from customers on behalf of government and pay it to government after that. Sales tax will be included in the cash received from the customer and recorded as the payable for the business.
Sales Value = $6,500
Sales Tax = 9%
Sales inclusive of Sales tax = $6,500 x 109% = $6,500 x 1.09 = $7,085
The correct answer for the question that is being presented above is this one: "F. i and iii" Then the firm is maximizing total profit by producing and selling 40 units of output and <span>earns a per-period total profit of $240 </span>
Here are the choices:
A. i
B. ii
C. iii
D. iv
E. i and ii
F. i and iii
Answer:
Ending inventory= $916.2
Explanation:
Giving the following information:
Nov. 1 Inventory: 35 units $7.10 each
Nov. 8 Purchase: 142 units $7.60 each
Nov. 17 Purchase: 71 units $7.45 each
Nov. 25 Purchase: 106 units $7.80 each
Nov. 30 ending inventory: 118 units on hand. FIFO (first-in, first-out)
Ending inventory= 106*7.8+12*7.45= $916.2
