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expeople1 [14]
3 years ago
6

The Town of Little River expects to collect $90,000 in sales tax from the state government within 30 days of the end of fiscal y

ear 2020 for retail sales taking place in fiscal year 2020. What entry, would Little River make at the end of 2020
Business
1 answer:
dimaraw [331]3 years ago
6 0

Answer:

D. Due from state government 90,000 Revenues control 90,000

Explanation:

Since the town of little river still expects to collect $90,000 in sales tax from the state government within 30 days after then end of fiscal year 2020 for retail sales taking place in fiscal year 2020 but have not yet received the cash or amount, it will be entered into the account as Due from state government $90,000. Money is due because as stated earlier, the little town isn't receiving it during that fiscal year but rather within 30 days after the fiscal year. It would also be entered as revenue control of $90,000.

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Please help me asap!!!
melomori [17]

Answer:

Finder's fee. good luck dude

6 0
2 years ago
Use "auto.Dta". The study claims that average price of foreign cars is more than average price of domestic cars. Check validity
Lynna [10]

Answer:

Yes.

Explanation:

Yes, the claim of statement ''The study claims that average price of foreign cars is more than average price of domestic cars.'' is correct because the cars which is imported from foreign countries have high duty on them. This duty tax on these cars make them very expensive while on the other hand, the domestic cars have no duty on it so they are lower in price as compared to foreign cars.

5 0
3 years ago
A store that has very limited inventory commonly uses what type of inventory method ?
faltersainse [42]

RETAIL INVENTORY METHOD SHOULD BE USED BY A STORE .

Explanation:

The retail inventory method is an accounting method used to estimate the value of a store's merchandise. The retail method provides the ending inventory balance for a store by measuring the cost of inventory relative to the price of the merchandise. Along with sales and inventory for a period, the retail inventory method uses the cost-to-retail ratio.

Periodic counts might be once every two months or every three weeks, depending on warehouse size and company needs. This will create better visibility than yearly or seasonal options but it also requires more time and manpower. Workers must ensure they are performing inventory consistently between each count.

3 0
3 years ago
What is a factor that increases the volatility of demand in industrial markets? Multiple Choice Professional buyers in the indus
emmasim [6.3K]

Answer:

Derived demand accelerates changes in markets.

Explanation:

Derived demand can be defined as the way in which the demand for a good or service tend to result from the demand for the related good or service and this occured when their is the demand for either good that are tangible or intangible goods where a market exists for both related goods and services.

In another word Derived demand occured in a situation where the demand for one good or service happens because of the want for another good or service Example is increase in the need for Shoes material or equipment because of the increase in the need for Shoes

because the factor of production by a company is dependent on the demand by consumers for the product produced by that company which is why the transition to become demand-driven is slowly occurring in many industries.

Hence, The factor that increases the volatility of demand in industrial markets is "Derived demand accelerates changes in markets"

8 0
3 years ago
The following information relates to Bonita Co. for the year ended December 31, 2017: net income 1,298 million; unrealized holdi
tester [92]

Answer: a) $(11.3) million

b)$1,286.7million

c)$40.6 million

Explanation:This does not involve lengthy explanation.

(a) Other comprehensive income for 2017 =unrealized holding loss =available-for-sale securities during the year= $(11.3) million

(b) Comprehensive income for 2017= net income-unrealized holding loss =

$1,286.7million (1,298 - 11.3)

(c) Accumulated other comprehensive income = accumulated other comprehensive income -unrealized holding loss

$40.6 million (51.9 - 11.3)

3 0
3 years ago
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