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3 years ago

Tariffs refer to

1 answer:

5 0

Answer: government taxes on products or services entering a country that primarily serve to raise prices on imports.

Explanation:

Tariffs are known to be taxes which the government of a particular country charges on goods and services which are imported into the country from other countries. It is a form of trade protection which the government uses in protecting local companies. Thus, the government imposes taxes on imported goods in order to make the prices of the goods high so that citizens can buy local or domestic goods and as a result encourage domestic companies to produce more of the local goods.

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Received cash of $43,000 from the issue of common stock. Performed $62,000 of services on account. Incurred $9,300 of other oper

PolarNik [594]

Answer:

Ending Balance

Cash $ 48,600

Accounts Receivable 20,500

Expenses= Salaries + Operating= 35,000 + 9,300= 44,300

Accounts Payable = $ 2,400

<u>Sr. No Particulars Debit Credit</u>

1 Cash $ 43000

Common Stock $ 43000

Received cash of $43,000 from the issue of common stock.

2 Accounts Receivable $ 62000

Service Revenue $ 62,000

Performed $62,000 of services on account.

3 Operating Expenses $ 9,300

Accounts Payable $ 9300

Incurred $9,300 of other operating expenses on account.

4 Salaries Expense $ 35000

Cash $ 35000

Paid $35,000 cash for salaries expense.

5 Cash $ 41,500

Accounts Receivable $ 41,500

Collected $41,500 of accounts receivable.

6. Dividend $ 4400

Cash $ 4400

Paid a $4,400 dividend to the stockholders.

7. Cash $ 10,900

Services Revenue $ 10,900

Performed $10,900 of services for cash.

8. Accounts Payable $ 6,900

Cash $ 6900

Paid $6,900 of the accounts payable.

<h2><u> Cash </u> <u> Acct Receivable</u></h2><h3><u>Debit Credit</u> <u> Debit Credit </u></h3>

Common

Stock $ 43,000 Salaries 35,000 Service

Revenue $ 62,000

A/R $ 41,500 Dividend 4,400 Cash 41,500

Service 10,900 A/ P 6,900 <u> Bal 20,500</u>

<h2><u> Service Revenue </u> <u>Salaries Exp </u></h2><h3><u>Debit Credit </u> <u>Debit Credit</u></h3>

A/R 62,000 Cash $ 35,000

Cash $ 41,500 <u> Bal $35000</u>

<h2><u> Accounts Payable </u> <u>Oper Exp </u></h2><h3><u>Debit Credit </u> <u>Debit Credit</u></h3>

Operating A/P 9,300

Expense 9300

Cash 6,900 <u> Bal 9,300</u>

<h2><u> Common Stock </u> <u> Dividend </u></h2><h3><u>Debit Credit </u> <u>Debit Credit </u></h3>

Cash 4,400

Cash 43000

3 0

3 years ago

Warnerwoods Company uses a perpetual inventory system.

Liono4ka [1.6K]

Answer:

gross profit under FIFO = $40,570 - $25,220 = $15,350

gross profit under LIFO = $40,570 - $26,340 = $14,230

gross profit under weighted average = $40,570 - $26,240 = $14,330

gross profit under specific id. = $40,570 - $26,070 = $14,500

Explanation:

sales revenue = (290 x $86.60) + (160 x $96.60) = $40,570

COGS under FIFO:

130 x $51.60 = $6,708

160 x $56.60 = $9,056

80 x $56.60 = $4,528

80 x $61,60 = $4,928

total COGS = $25,220

COGS under LIFO:

240 x $56.60 = $13,584

50 x $51.60 = $2,580

160 x $63.60 = $10,176

total COGS = $26,340

COGS under weighted average:

weighted average = [(130 x $51.60) + (240 x $56.60) + (100 x $61.60) + (180 x $63.60)] / 650 = $58.31

450 x $58.31 = $26,239.50 ≈ $26,240

COGS under specific method:

80 x $51.60 = $4,128

210 x $56.60 = $11,886

60 x $61.60 = $3,696

100 x $63,60 = $6,360

total COGS = $26,070

8 0

3 years ago

Jake paid $9840 in interest on his interest-only home loan last year. If

pogonyaev

$250,000

$1,458 x 12
Months = 17,496
17,496/0.07
=$249,942

3 0

3 years ago

Which of the following allows for response tracking most easily?

Alex73 [517]

Answer: internet advertising

Explanation:

4 0

3 years ago

A machine with a cost of $75,000 has an estimated residual value of $5,000 and an estimated life of 4 years. What is the amount

Alla [95]

Answer:

$18,750

Explanation:

The double declining method of depreciation (DDB) formula is:

DDB= 2 * Cost of the asset * Depreciation rate (DR)

DR= (1/useful life)*100

For this problem:

Value to depreciate: $75,000

DR= (1/4)*100= 25%

DEPRECIATION YEAR 1: DDB= 2 * $75,000*25%= $37,500

Machine´s value year 1: $75,000-$37,500= $37,500

DEPRECIATION YEAR 2: DDB= 2*37,500*25%= $18,750

4 0

3 years ago