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Shtirlitz [24]
3 years ago
15

Andre Company does not segregate sales and sales taxes when it charges customers at the register. Its register total for a given

day is $5,724, which includes a 6% sales tax. How much should be recognized as sales revenue and sales taxes payable, respectively?
Business
1 answer:
Arlecino [84]3 years ago
6 0

Answer:

Sales revenue is $5,400

Sales tax payable is $324

Explanation:

The computation of the sales revenue is shown below:

= Total cash received by the company ÷ ( 1 + sales tax rate)

= $5,724 ÷ ( 1 + 6%)

= $5,724 ÷ 1.06

= $5,400

Now the sales tax payable would be

= Total cash received by the company - sales revenue

= $5,724 - $5,400

= $324

Simply we find the sales revenue by considering the sales tax rate and the difference of cash received and sales revenue represent the sales tax payable amount

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Weirick, Inc., manufactures and sells two products: Product T8 and Product P4. The company has an activity-based costing system
gtnhenbr [62]

Answer:

$634,443

Explanation:

The computation of total overhead applied to Product P4 under activity-based costing is shown below:-

                                                                               

Activity        Expected               Expected           Activity  

                         costs                 Activity                Rate    

                         a                         b                      c =  a ÷ b

Labor related $145,000     6,000 DLHs         24.17 per DLHs

Production

orders           $68,360        1,400 orders     48.83 Per orders

Order size   $1,069,190      5,800 MHs       184.34 per MHs

                         Product P4

Activity driver            Overhead

Incurred                   Assigned

    d                                 e = c × d

2,000                              $48,340

300                                 $14,649

3,100                               $571,454

Total overhead cost       $634,443

3 0
3 years ago
Match each type of savings account with its features
ExtremeBDS [4]
Stock-rises and falls with market
youth-schools often sponsor it
NOT SURE ABOUT THESE LAST 2
Credit Union account-members own it
online-minimal overhead = high interest rate

8 0
3 years ago
Read 2 more answers
Sandra has two credit cards, P and Q. Card P has a balance of $726.19 and an interest rate of 10.19%, compounded semiannually. C
Elan Coil [88]
First, convert interest to the effective annual interest rate using this formula:

(1 + i/m)^m - 1, where m = 2 for semiannual and m = 12 for monthly. Then, use this formula to find the future worth:

F = P(1+i)^n, where P is $726.19 and <span>$855.20, respectively, for Card P and Q. n is equal to 4.

Card P: F = 1080.704
Card Q: F = 1206.284

Then, find the amount decrease by subtracting F - P.

Card P: F - P = $354.514
Card Q: F - P = $351.084

The difference between the two is $3.43. Thus, the answer is C.</span>
5 0
3 years ago
Read 2 more answers
When travelers are bumped from overbooked flights, they are frequently offered vouchers good for future travel. The dollar value
earnstyle [38]

Answer:

The correct answer is letter "E": distributive fairness.

Explanation:

Distributive fairness is what is fair and correct regarding benefits assignation to a certain group. The principles of distributive fairness are ruling principles designed to guide the benefits of assignation and load of economic activity. English philosopher Thomas Hobbes <em>(1588-1679)</em> used to relate the principle of distributive fairness with the right of each individual to ensure self-preservation, something that included food, water, clothing, and somewhere to live.

6 0
3 years ago
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kykrilka [37]

Answer:

“Should” or “should not” depend on the cost rate of the option and the risk appetite of investors.

Explanation:

An option is a contract that allows investors to buy or sell instruments such as security, Exchanged Traded Fund or an index at a pre-determined price over a certain period of time.

If the option will cost the investor an additional $10,000 and it is the cost for an option of $10 million investment, then it cost only 0.1% additionally, but it can secure the position of this investment; then the investor should buy this option.

Vice versa, if the additional $10,000 is much more than expected profit, and even lower but significantly drop down the total profit of an investment; and the investor always wish to have a high profit regardless high risk; then he shouldn’t buy this option.

6 0
3 years ago
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