Answer and Explanation:
The journal entries are shown below:
1. On Sep 30
Cash $15750
To Sales $15,000
To Sales taxes payable ($15000 ×5%) $750
(Being the cash receipts is recorded)
For recording this we debited the cash as it increased the assets and credited the sales and sales tax payable as it increased the revenue and liabilities
2 On Sep 30
Cost of goods sold $12,000
To Merchandise inventory $12,000
(Being the cost of goods sold is recorded)
For recording this we debited the cost of goods sold as it increased the expenses and credited the merchandise inventory as it reduced the assets
3 On Oct 15
Sales taxes payable $750
To Cash $750
(Being cash paid is recorded)
For recording this we debited the sales tax payable as it reduced the liabilities and credited the cash as it decreased the assets
Answer and Explanation:
The Journal entries are shown below:-
1. Salary Expense $1,500
To Salary Payable $1,500
(Being salary expense is recorded)
Here we debited the salary expenses as it increased the expenses and we credited the salary payable as it also increased the liabilities
2. Salary Expense Dr, $2,100
Salary Payable Dr, $1,500
To Cash $3,600
(Being cash paid is recorded)
Here we debited the salary expenses and salary payable as it increased the expenses and decreased the liabilities and we credited cash as it reduced the assets
Although Costco pays its employees substantially more than its closest competitor, Sam’s Club, it has similar financial returns on its labor costs due to lower turnover and higher levels of productivity
Option A
<u>Explanation:
</u>
While Costco costs its workers slightly more than its closest competitor, Sam's Club, Costco pays higher prices in order to recruit more professionals and to provide better customer service due to lower turnover and a similar financial return.
Direct costs involve wages for staff making a product and employees on the production line, while indirect costs apply to assistance, such as employees repairing factory equipment.
When labor costs are wrongly distributed or measured, the price of goods or services may be changed from their actual costs and profits from losses.
I believe the correct answer would be the last one. One of the main goals of unions is to engage in featherbedding. In simple words, to be able to provide and implement favorable and advantageous working conditions to employees in a company.
