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Elena-2011 [213]
3 years ago
12

Which 2 statements are correct regarding adjusting sales tax on a return?A. Rounding up should post to an income account B. Pena

lties should post to a contra-income account Interest charged should post to a payable account C. Rounding down should post to an income account D. Early payment discount (credit) should post to an income account
Business
1 answer:
kogti [31]3 years ago
6 0

Answer:B and D i think

Explanation:

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Rachel's Recordings reported net income of $270,000. Beginning balances in Accounts Receivable and Accounts Payable were $17,000
Cloud [144]

Answer:

Cash flow from operating activities 284,500

Explanation:

net income                                    270,000

change in AR

17,000- 9,500  =           7,500(A)

change in AP

28,000 - 21,000 =        7.,000(B)

total change in working capital        14,500

Cash flow from operating activities 284,500

(A)

The account receivable decrease over time this means the account were collected, whch increase cash

(B)

The account payable increase, which means the company receive cash or delay the payment of cash for this period of time. Therefore, the cash increase.

3 0
3 years ago
Wildhorse Corp. has total current assets of $12,152,000, current liabilities of $5,849,000, and a quick ratio of 0.94. How much
White raven [17]

Answer:

Wildhorse Corp. has inventory of $6,653,940

Explanation:

The quick ratio is a liquidity ratio that indicates a company's ability to pay its current liabilities when they come due without needing to sell its inventory or get additional financing. The quick ratio is calculated by the following formula:

Quick ratio = (Cash & equivalents + Short Term investments + Accounts receivable)/Current Liabilities

(Cash & equivalents + Short Term investments + Accounts receivable) = Quick ratio x Current Liabilities = 0.94 x $5,849,000 = $5,498,060

Inventory = Total current assets - (Cash & equivalents + Short Term investments + Accounts receivable) = $12,152,000 - $5,498,060 = $6,653,940

4 0
3 years ago
Who is responsible for maintaining roads in lynchburg va?
Oksanka [162]
The agency that is responsible for the roads in Lynchburg, Virginia is the Virginia Department of Transportation. This is a state agency is that is responsible for all of the roads in the state of Virginia. Some of the things that they do is to maintain all roadways, operating the roads, and building the roads. They also make sure to keep the roadways clear of ice in the winter by putting down chemicals and salt to keep the ice melted off the major roadways. They also plow the roads in the winter. In the summer, they start clearing off the sides of roads of grass and debris. The county road crews are normally only filling potholes and other minor issues with roads in the area. 
7 0
3 years ago
5 th question answer please
NeX [460]

Answer:C

Explanation:

7 0
3 years ago
Read 2 more answers
Q 6.3: Mia received a credit card offer in the mail. The credit card has an annual percentage rate of 26%. What is the approxima
lbvjy [14]

Answer:

D : 2.17%.

Explanation:

The 26% is an APR(Annual Percentage Rate). This is a quoted rate that  a credit card company charges . It is also known as the  nominal rate.

Since the question is asking for a monthly rate, use the 26% and convert it into monthly rate. We have 12 months in a year; meaning, we will divide the nominal rate by 12;

Monthly rate = APR / n

APR = 26% or 0.26 as a decimal

n = compounding periods = 12

therefore, Monthly rate = 26% /12 = 2.17%

5 0
3 years ago
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