Answer:
Please refer to the below
Explanation:
Journal entry as seen below
Feb 28 Sales tax payable Dr $975
Cash Cr $975
Since Jewelry store collected the sales tax from its customers, sales tax account will be debited because it reduces the balance in the account while cash account will be credited because the balance therein increases due to the sales tax collected.
Answer:
Explanation:
N = 4 (5-year bond - 1 year (ago))*2 = 8
I% = YMT= 8/2 = 4
PMT = (1,000)(.07) = 70/2 = 35
FV=1,000
Calculating PV, PV=966.34
Answer:
B) efficiency versus autonomy
Explanation:
The three parties that make up the service encounter triad are: the organization that provides the service, contact personnel (which are part of the organization) and the customers. For example, in a service encounter that tales place in a movie theater; a contact person (e.g. sales clerk) provides a service (e.g. movie ticket) to a customer.
A lot of physical vendors or clerks are being replaced by automated customer service machines that are cheaper for the company but have limited autonomy. For example, in movie theaters you can get your tickets from a machine, so unless you also buy a soda or candy, you don't need to interact with the sales clerk.
Answer:
$6,000
Explanation:
Data provided
Beginning credit balance = $26,000
Net loss = $12,000
Paid dividends = $8,000
The calculation of Retained Earnings account is given below:-
Retained Earnings = Beginning balance - Net loss - Dividend
= $26,000 - $12,000 - $8,000
= $26,000 - $20,000
= $6,000
So, for computing the retained earning we simply applied the above formula.
Answer:
<em>Increase to Cash dividends</em>
Explanation:
The entry on declaration of dividend is Retained earnings debit and credit is given to dividend payable. The cash dividend will increase to shareholders as a result of this action. The dividend payable will increase. Cash is not affected when dividends is declared. Cash is affected only when dividend is paid on August 15, 2017. Cash dividend will not decrease since dividend is paid it will increase. There are total 2 entries passed one on July 15th for dividend declaration and on August 15th for dividend payment. The record date of July 31 is only for determining which shareholders are eligible for dividend and no entry is needed.
