Answer:
Match the invoice with the PO.
Record the transaction in the system.
Post the transaction to a ledger
Generate unadjusted Trial balance
Prepare adjusted Trial Balance.
Issue Financial statements
Closing entries
Post closing Trial balance.
Explanation:
The accounting procedure is followed to record any transaction of the business. The transaction are recorded in the system and then these transactions are posted into ledger which forms the trial balance and then financial statements are prepared.
The core product alludes to the overnight rental of a room. Its parts are benefited level, booking, nature of the procedure, and the client's part in the utilization of the room. Supplementary administrations incorporate things like stopping, room administration, reservations, and a breakfast buffet. Conveyance of both the center and the supplementary administrations is given electronically, by means of lodging worker, or by the client. Telephone utilize and pay TV are naturally charged to the room. Room administration and registration are given by an inn representative. Most breakfast buffets are self-benefit, requiring the client to make a move.
Answer:
Dr Accounts receivable 3,472
Cr Sales 3,20
Cr Sales tax payable 272
Explanation:
Since $3,200 is the credit sale and the state sales tax rate is 6% while the local sales tax rate is 2.5% which means we have to calculate for 6% of 3,200 as well as 2.5% of 3,200 which is: Sales tax payable
6%×3,200=192
2.5%×3,200=80
192+80= 272
The last step is to Debit Accounts receivable with 3,472 (3,200+272) , Credit Sales 3,200 and Credit Sales tax payable with 272
Far West Services Journal entry
Dr Accounts receivable 3,472
(3,200+272)
Cr Sales 3,200
Cr Sales tax payable 272
Answer:
$270,000
Explanation:
The first step is to calculate the overhead cost of the material handling parts
Since each wind stock require 3 parts then the overhead cost can be calculated as follows
= 3 × 20,000
= 60,000
The overhead cost of machining hours can be calculated as follows
Since 5 minutes is spent in the machining department then overhead cost is
= 5× 20,000
= 100,000
The overhead cost of packaging number of finished units can be calculated as follows
= 2 × 20,000
= 40,000
Total overhead cost= 100,000 + 60,000 + 40,000
= 200,000
The total cost of direct materials and labor can be calculated as follows
= 3.5 × 20,000
= 70,000
Therefore the total cost of producing 20,000 windstocks is
= Total overhead cost + total cost of direct materials and labor
= 200,000 + 70,000
= $270,000
Hence the total cost of producing 20,000 windstocks is $270,000
Answer:
A. have permission from the government.
B. face a downward-sloping demand curve.
C. set price equal to marginal cost.
D. be sure the price-marginal cost ratio is the same for all its submarkets.
Explanation:
