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Zinaida [17]
4 years ago
15

The General Fund of the City of Snake River operates on a calendar year basis. It sends bills to property owners on January 2. T

axes are due March 1, but taxpayers are allowed until March 31 to make payment without penalty. Taxpayers who pay before March 1 are allowed to deduct a 1 percent discount. Taxpayers who fail to pay by April 1 are declared delinquent, and notice is sent to them that they owe a penalty of 4 percent of the unpaid taxes. Prepare journal entries to record the following Snake River transactions:
Business
1 answer:
nadezda [96]4 years ago
6 0

Answer:1) Debit to receivable $994,000.00

Debit to discount allowable $6,000.00

Credit to Tax Revenue $1,000,000

2) Debit to cash $693,000.00

Credit to receivable $693,000.00

Explanation: A revenue is an amount earned and brought into a business by its operations or amount earned by the government.

Discounts are allowable in fund generation inorder to encourage prompt payment. This discount is seen as an expense to the business or government which is matched against the revenue generated.

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Computer game cartridges produced in economyland sell for $50 each. the same cartridges made in marketland have a price of $100.
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$50?  If you don't tell us the retail, or factory price, of the item, we cannot determine free-trade price.  Please mark Brainliest!!!
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3 years ago
Which of the following accurately describes the process of currency
DIA [1.3K]

Answer:

C. Money from one country is bought using money from another

Explanation:

A currency exchange is seen as a type of business that has the right to exchange one currency for another to its customers or between two or.more different countries. Although the right to exchange this currency are often legal.

Therefore doing CURRENCY EXCHANGE the exchange rate is often how much of a country's currency have to buys another foreign currency which is why for some countries, exchange rates tend to constantly change while some countries tend to use a fixed exchange rate which does not often change .

Hence CURRENCY EXCHANGE enables money from one country to be bought using money from another.

6 0
3 years ago
Stan works from home in Louisiana. His company is located in Washington. This work arrangement is
Liula [17]

Answer:

telecommuting bc it's remote

5 0
3 years ago
Suppose that bicycles and skateboards are substitute goods. All else equal, if the price of bicycles decreases, there will be:__
Eduardwww [97]

Answer:

C

Explanation:

Substitute goods are goods that can be used in place of each other by consumers.

If the price of bicycles declines, there would be a movement down along the demand curve for bicycles.

The decrease in the price of bicycles leads to a shift in the demand curve for skateboards and not a movement along the demand curve for bicycles.

If the price of bicycles decreases, consumers would increase their demand for bicycles and demand less of skateboards. This would lead to a leftward shift of the demand curve for skateboards or a decrease in the demand curve for skateboards

6 0
3 years ago
Terry Washington recently started a new firm in the financial services industry. Prior to starting his firm, he spent considerab
Mekhanik [1.2K]

Answer:

Industrial Analysis.

Explanation:

Terry Washington recently started a new firm in the financial services industry. Prior to starting his firm, he spent considerable time doing research on the profit potential of the industry. The research that Terry was doing is called <u>Industrial </u>analysis.

Industrial Analysis: It is an analysis or function conducted by the owner of business to understand the dynamics and workflow of any specific industry. It help to know the industrial environment to gain the competitve advantage and potential of the business in the industry. Later on the basis of Industrial analysis, SWOT analysis is conducted to know Strength, weakness, opportunity and threats of a company.

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3 years ago
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