Answer:
b 5:3
Explanation:
Jungle gym sales unit : tree sales unit
10,000 : 6,000
10,000 / 6000
= 5/3
=5:3
Answer and Explanation:
The journal entry is shown below:
1. Organization expense Dr $58,500
To cash $58,500
(Being organization expense is recorded)
Here organization expense is debited as it increased the expenses and credited the cash as it decreased the assets. Also the assets and expenses contains normal debit balance
2. No entry is required as the amortization is recorded for only intangible assets
<span>Albert's 19-year old son, paul, lived with him all year. paul is a full-time student who earned $4500, which he put into a college fund. albert can claim paul as a dependent</span>
The net income is $32,961
<u>Explanation</u>:
To calculate the net income, we will classify the transaction into income and expenses, and compute the difference between their totals;
Income;
Merchandise inventory Sept. 1 = $ 7,740
Merchandise inventory Sept. 30 = $ 11,372
Sales = $ 50,575
Total = $ 69,687
Expenses;
Purchases = $ 33,114
Selling expenses = $ 677
Administrative expense = $ 665
Rent Revenue = $ 1,118
Interest expense = $ 1,152
Total = $ 36,726
Net income = Total income - Total expenses
= 69,687 - 36,716
= $ 32,961