Answer:
B. Contained in
Explanation:
Base on the scenario been described in the question, the concept that is used to derivatively classify the statement in the new document is contained in
Contained in can be said to a classified statement in a new document
Accounting information system integration is the process of standardizing the procedure for recording transactions and disseminating financial information. <span />
Answer:
a prior period adjustment
Explanation:
A prior period adjustment -
It is the correction of the accounting error which took place in the past and was written in the prior year of financial statement , net of the income taxes , is known as a prior period adjustment .
It is the method to fix the previous problem of past during the reporting .
hence , the correct term fro the given statement is a prior period adjustment .
D) a Japanese stores selling tea and spices from South Asia
Answer:
$10,619.05
Explanation:
When sales is made at a tax rate of 5%, the entries to be posted in the proportion of the transaction amount
Dr Cash/ Accounts receivable 105%
Cr Sales revenue 100%
Cr Sales tax 5%
As such, if Sales Account totals $223,000 which includes both the sales revenue and the sales tax on the sales, it means that the accounts contains 105%, as such, the sales tax which is the amount owed the taxing agency
= 5/105 * $223,000
= $10,619.05
