Cash will be debited and sales will be credited by $6,120 and cost of good sold with be debited and inventory will be credited by $3,540.
A journal entry is the act of maintaining or producing records of any economic or the non-economic transaction. An accounting journal, which shows a company's debit and credit balances, records transactions. The journal entry may have many records, each of which is either a debit or a credit.
The journal entry to record days cash sales would be as given below:
Cash (Dr) $6,120
To sales $6120
(Being cash sales of $6,120)
Cost of good sold (Dr) $3,540
To inventory $3,540.
(Being cost of cost of good sold)
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This one I'm not too sure but possibly so ---> <span>the depositary bank.</span>
Answer:
Intrinsic value is $45
Explanation:
The starting point to determining Rivoli Company intrinsic value is to compute the earning after tax as shown below:
Earnings after tax=earning before tax*(1-tax rate)
earnings before tax is $600,000
tax rate
earnings after tax=$600,000*(1-0.25)
=$600,000*0.75
=$450,000
Then we need to compute earnings per share;
Earnings per shares=earnings after tax/weighted average number of shares
=$450,000/100,000
=$4.5
Intrinsic value=earnings per share/cost of equity
cost of equity is 10%
intrinsic value=$4.5/10%
=$45
Answer:
Answer for the question :
Tom sold mutual fund shares, which he had owned for 3 years, so that he could use the proceeds to return to college. Tom is in the 12% marginal tax bracket, and his capital gain from the sale was $12,000. How much tax does Tom owe on the gain?
is explained in the attachment.
Explanation:
Answer:
Exclusive distribution
Explanation:
Few companies and organisation just use exclusive restaurants to sell their products and services. Exclusive restaurants mean only some recognised and authorised franchises can sell a product and no local dealers are authorised. Similarly, jade wants to buy jaguar and the only deal is 200 miles away which means that jaguar utilises exclusive distribution of its vehicles.