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vekshin1
2 years ago
8

Global Company sold merchandise to Montana Industries for cash, $3,450. The cost of merchandise sold was $1,850. Global Company

refunded Montana Industries $900 for returned merchandise. Which of the following will be recorded by Montana Industries in the journal entry for the refund from the return?
Business
1 answer:
BlackZzzverrR [31]2 years ago
8 0

Answer:

Db Accounts Payable or Cash____900

Cr  Inventory account__________________900

Explanation:

The journal entry would be: If merchandise is returned to a supplier, a debit is made to Accounts Payable or Cash, and a credit is made to the Inventory account.

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Kai operates the Surf Shop in Laie, Hawaii, which designs, manufacturers, and customizes surf boards. Hawaii has a hypothetical
prohojiy [21]

Answer:

Explanation:

According to the Kai surf shop in Laie, Hawaii, below is the computation of sales and use tax of surf shop that must collect or remit.

A.

Kai doesn't have a sales tax nexus with Utah, therefore it will not have any sales tax liability. Instead, Kalani will have a tax liability in Utah that will be $63($1000 x 6.85%).

B.

kai will have a tax liability of $83($2000 x 4.166%) Also, Nick will have use tax liability of $87[($2000 x (9% - 4.166%)].

C.

Kai doesn't have a sales tax nexus with Michigan, therefore it will not have sales tax liability. Instead, Jim will have a use tax liability in Michigan will be $140($2000 x 6%)

D.

Sales and use tax is not imposed on sale of services. Therefore, neither Kai nor Scott will have any sales or use tax liability.

7 0
2 years ago
Sunland Company is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $
nikitadnepr [17]

Answer: Sell before assembly, the company will be better off by $1 per unit.

Explanation:

To solve the above question, we need to calculate the incremental profit or loss first. This will be:

= After assembling sales value - Unassembled unit sales value - Coat if further processing

= $87 - $62 - $26

= -$1

Since there is an incremental loss of $1, then the correct answer is "Sell before assembly, the company will be better off by $1 per unit".

7 0
3 years ago
Rimi currently earns $3300 per month. She has the following monthly debt payment expenses: $80 for credit cards, $130 for studen
vaieri [72.5K]

Answer:

No, her ratio is greater than 37%

Explanation:

Given:

Monthly income = $3,300

Credit card expenses = $80

Student loan expenses = $130

Car payment = $215

All insurances = $1,221

Computation:

Total debt to income ratio = Total debt / Total income

Total debt to income ratio =  (80 + 130 + 215 + 1221) / 3300

Total debt to income ratio = 49.87%  

Housing payments to income ratio = All insurances / Monthly income

Housing payments to income ratio = (1221) / 3300

Housing payments to income ratio = 37%  

No, her ratio is greater than 37%

3 0
3 years ago
Search marketing involves placing _____ on the organic results page of search engines.
Rus_ich [418]

Answer: Advertisements

Explanation:

Search engine marketing is a form of internet marketing, where website owners increase their website's views from search engine results, this can be achieved through paid or unpaid adverts.

The paid adverts may include the use paid Google adverts while the unpaid adverts would include the use of search engine optimization.

8 0
3 years ago
The focus group report lists most of the themes that became apparent during the research, notes any diversity of opinions or tho
zysi [14]

Answer:

The correct answer is letter "B": False.

Explanation:

A focus group is a technique used to obtain qualitative data for research. This data is obtained after gathering a small group between six and twelve people to expose their opinions, likes, and preferences in regards to a product, idea, service, advertisement or content. The participants have similar features and the chat focuses on a specific matter. There is no need for abbreviations since the participants' point of view is typically recorded for analysis and feedback.

4 0
3 years ago
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