Answer:
Total sales tax payable:170, sales :2000
Explanation:
Sale price x sales tax rate = sales tax payable
2000 x .085 (6%+2.5%) = 170
it doesn’t say so I’m assuming that the 2,000 credit sale does NOT include the sales tax due.
I disagree because you should never change the truth just a little because if you do your lying to yourself and everybody else.
Answer:
The conditions under which each funding method for paying for IT system expenses would be recommended are:
Allocation method is preferred to other methods when actual usage cannot be captured but, some other cost drivers can be used as the allocation bases.
Chargeback method works better than others when actual usage by each unit can be accurately captured.
Explanation:
The Allocation Funding Method charges IT costs to individuals, departments, or business units based on revenues, number of employees, and other cost drivers and not based on usage. It is often used when actual usage cannot be recorded.
The chargeback method charges IT costs to individuals, departments, or business units based on their actual usage of the IT services. With wide variation in IT usage, business units need to be charged their actual costs consumed.
The corporate budget method allocates IT cost based on a periodic predetermined rate. It is used where unit managers need to be given control over their budgets, enabling them to search for cost-saving technologies.
Answer:
Mutual Funds are simply a way to pool money together and buy more stocks. You invest into a mutual fund along with many other people. Then your pooled money is invested by the manager of the mutual fund. They are generally conisdered safe as they are run by "stock gurus".
Answer:
Debit : Account Payable $1,600
Credit : Discount Received $32
Credit : Cash $1,568
Explanation:
The correct journal entry to record the payment on July 28 includes a Debit to Accounts Payable and Credit to Discount and Cash. Cash should be after returns and discount received.
