Good record entry is important in business, adjusting entries will include record of goods that was previously purchased.
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What is Journal entry?</h3>
Journal entry contains business details or data to a single business transaction. It includes the date, the amount payable for a particular good and the amount to be debited.
Adjusting entries include records that has changes to accounts that are not otherwise accounted for in the journal earlier.
Therefore, Adjusting entries will record taking a discount when paying for goods previously purchased.
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Answer:
Total debt= $20,000,000
Explanation:
Long term liabilities are what the government owes that are due in more than one year.
All the stated items are unmatured long term liabilities that will appear on the government wide financial position.
Although these items will not be recorded in government general funds.
Therefore
Total debt = Capital lease liabilities that mature in more than one year + Net pension liability associated with general government + General government bonds that mature in the next fiscal year
Total debt= 2,000,000+ 4,000,000+ 14,000,000
Total debt= $20,000,000
Answer:
D) Jack is in compliance with the provisions of the tax code, provided he retains the list for a 3-year period after the close of the return period in which the return was signed.
Explanation:
The Internal Revenue Service (IRS) requires tax return preparers to keep the following records;
- either maintain a complete copy of each tax return or claim for refund they have filed for 3 years after the return period, or
- maintain a list of the names, identification numbers, and tax years for those individuals or businesses whose tax returns were prepared and to keep this list for 3 years after the return period.
The tax preparer can choose the alternative that best suits hims or her.
Answer:
I have had too many fake friends to be okay with them
Explanation:
Answer:
The correct answer is A.
Explanation:
Giving the following information:
Beginning finished goods inventory= $40,000
During the period cost of goods manufactured amounted to $280,000. The ending balance in the Finished Goods Inventory account was $42,000.
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 40,000 + 280,000 - 42,000
COGS= 278,000
