Answer:
a. Account receivable and sales are understated.
Adjusting entry :
Accounts Receivable (Dr.) $21,000
Sales Revenue (Cr.) $21,000
b. Interest receivable is understated.
Adjusting Entry :
Interest Receivable (Dr.) $470
Interest Earned (Cr.) $470
c. Account receivable and sales are understated.
Adjusting entry :
Accounts Receivable (Dr.) $1,460
Sales Revenue (Cr.) $1,460
Explanation:
Adjusting entries will be created for the transactions that are not properly recorded or either completely not recorded. In the given case the customer is not billed for the services rendered. This has an impact on the asset account of the company because account receivable are understated.
Answer: $50000
Explanation:
Based on the information that's been given in the question, firstly we need to calculate the excess reserves which will be:
= $4500 - (10% × $40000)
= $4500 - $4000
= $500
Then, the money supply that's expanded will be:
= Excess reserve / Reserve ratio
= $5000 / 10%
= $5000 / 0.1
= $50000
Therefore, the answer is $50,000.
Answer:
the answer is cost of buying or cost of production
la respuesta es el costo de compra o el costo de producción
Explanation:
i speak Spanish and business is pretty easy
Answer: Organization decline
Explanation: The organization inability to address the complain of its staff welfare and not being considerate with work load led to the resignation of her staff, this is known as organization decline. This affects the performance of the company especially when the company are not able to employ capable hands immediately after the resignation of it's employees for the main time, also the employees which are employed won't settle immediately for the job as it would take them time to understand their roles properly, all this factors would lead to organization decline.
Answer:
Qualified Business Income Deduction is $9,800
Tax liability = $4,564
Explanation:
Qualified business income is calculated by subtracting an individual's ordinary deduction from a qualified business or trade from the individual's ordinary income.
Net income = $61,000
Standard deduction = $12,000
Modified taxable income;
$61,000 - $12,000 = $49,000
QBI Deduction (Sec 199A) is the lesser of:
[0.2 × 49,000 < 0.2 × 61,000]
$9,800 < $12,200
Therefore Qualified Business Income Deduction is $9,800
Taxable income = $(49,000 - 9800) =$39,200
