Answer:
Please refer to the below
Explanation:
Journal entry as seen below
Feb 28 Sales tax payable Dr $975
Cash Cr $975
Since Jewelry store collected the sales tax from its customers, sales tax account will be debited because it reduces the balance in the account while cash account will be credited because the balance therein increases due to the sales tax collected.
Answer: A
Explanation:
A complementary good is a product that is used together with another product. Without its complement, such a good will have little value. When there is increase in the price of a particular product, the demand of its complement reduces because consumers may not be able to use the complement on its own.
Complements have negative cross elasticity of demand i.e there is increase in the demand for a product when the price of its complement reduces. If bicycles and gasoline are complements, an increase in tax on gasoline will have a negative effect on the demand for bicycle. Due to the price increase of gasoline, less people will demand for bicycle. The initial change that will occur as a result of this is that as there is a price increase for gasoline, there will be a leftward shift in the demand for bicycle. This implies that less bicycle will be demanded for.
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Answer: (C) One advantage of an LLC is that its owner has only limited liabilities.
Explanation:
A Limited Liability Company (LLC) has the main advantage of its owners having only a limited liability when it comes to debts and liabilities. This is because the LLC is a bit of a mixture between a partnership and a corporation.
This mix results from the fact that LLCs are formed by partners but their personal assets will be separated from the business like in Corporations which means that in case of default, only the assets they brought into the business will be targeted.
The goal of the managers of a publicly owned company should be to maximize the firm’s common stock value.
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What is a publicly owned company?</h3>
- A public company, also known as a publicly traded company, publicly owned company, publicly listed company, or public limited company, is a company whose stock is freely listed on a stock exchange or in over-the-counter marketplaces.
- A public (publicly traded) company may or may not be listed on a stock exchange (listed company), which facilitates share trading (unlisted public company).
- Public companies of a certain size must be listed on an exchange in some jurisdictions.
- In most cases, public companies are private enterprises in the private sector, and the term "public" emphasizes their public market reporting and trading.
- A publicly traded company's managers should strive to maximize the firm's common stock value.
Therefore, the goal of the managers of a publicly owned company should be to maximize the firm’s common stock value.
Know more about the publicly owned companies here:
brainly.com/question/1361751
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