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3 years ago

Journalize the entries to record the following selected transactions:

Business

1 answer:

juin [17]3 years ago

6 0

Answer:

General Ledger Dr. Cr.

1. Cash $65,940

Sales Tax Payable $3,140

Sales $62,800

2. Cost of Goods Sold $37,500

Merchandise Inventory $37,500

3. Sales Tax Payable $39,650

Cash $39,650

Explanation:

Sales tax is subject to 5% which is

Sales Tax = $62,800 x 5% = $3,140

Total Cash received = $62,800 + $3,140 = $65,940

Cost of the merchandise sold is recorded in the cost of goods sold account.

Tax is paid in cash and Tax payable liability is reduced by a debit entry.

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Person who makes goods or provide your anwer

german

A person who makes good for the people is called Producer. The people who consumes his goods are called the Consumers.

Suppose there is a bakery in an area who sells fantastic cookies to the people. People who are making the cookies in the bakery are the producers of that product. So consumers may say that this bakery is the producer of best cookies in town.

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3 years ago

The _____ requires states to provide all eligible citizens with the opportunity to register to vote when they apply for or renew

frez [133]

<span>The National Voter Registration Act of 1993 was passed to allow greater access to voting, and encourage an easy path for potential members of the electorate to vote. This was a groundbreaking act intended to involve more individuals in democracy and increase voter turnout, particularly for local elections.</span>

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3 years ago

Direct materials for the month amounted to $111,500. Direct labor for the month was $206,500. During the month, 12,500 units wer

Alenkinab [10]

Answer:

1. Total Production Cost = $413400

2. Cost per unit of production for the previous month = $25.44

Cost per unit of production for the next month = $25.44

Explanation:

GIVEN:

Direct Material for 12,500 unit = $111,500

Direct Labor for 12,500 unit = $206,500

Calculate:

Direct Material for 16,250 unit = $111,500*16,250/12,500 = $144,950

Direct Labor for 16,250 unit = $206,500*16,250/12,500 = $268,450

Total Production Cost = Direct labor + Direct materials + Factory Overheads

Total Production Cost = $144,950 + $268,450

Total Production Cost = $413,400

Cost per unit of production = Total Production Cost / Total unit

For Previous month = ($111,500 + $206,500) / 12,500

= $318000/ 12,500

= $25.44

For Next month = ($413400) / 16,250

= $25.44

6 0

3 years ago

Red Mountain, Inc. bonds have a face value of $1,000. The bonds carry a 7 percent coupon, pay interest semiannual, and mature in

olganol [36]

Answer:

R = 7% x $1,000 = $70

Po= R/2(1-(1+Kd/m)-nm/Kd/m + FV/(1+Kd/m)nm

Po = 70/2(1-(1+0.0682/2)-13.5x2/0.0682/2 + 1,000/(1+0.0682/2)13.5x2

Po = 35(1-(1+0.0341)-27/0.0341 + 1000/(1+0.0341)27

Po = 35(17.4663) + 1,000/2.4728

Po = $611.3205 + $404.40

Po = $1,015.72

The correct answer is C

Explanation:

The current price of a bond is equal to present value of coupon plus the present value of face value of the bond. The bond pays semi-annual interest, thus, we will divide the coupon by 2 and then determine the present value. The bond yield will also be divided by 2.

Po = Current price of the bond, R = Coupon, Kd = Bond yield, FV = Face value, n = Bond maturity and m = No of times coupon is paid in a year

4 0

3 years ago

Ready Company has two operating (production) departments: Assembly and Painting. Assembly has 280 employees and occupies 55,200

Agata [3.3K]

Answer:

$61,200

Explanation:

Maintenance expenses allocated to assembly department

Allocation base = Square footage

= $102,000 * $55,200 / ($55,200 + $36,800)

= $102,000 * $55,200 / $92,000

= $61,200

7 0

3 years ago