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3 years ago

48. What is the economic process or activity of producing goods and

Business

1 answer:

fgiga [73]3 years ago

7 0

Answer:

O C. Production

Explanation:

Production is the organized activity of combining different materials (inputs) to make consumable goods and services. It is the process of converting resources to finished products and services for sale. Production occurs to meet the demand for the goods and services in the market.

Entrepreneurship involves the generation of an idea and transforming it into a profitable business. Factors of production are the inputs necessary for making goods and services. These factors of production (inputs) are the ingredients in the production process.

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Answer:

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2 years ago

Dextra Computing sells merchandise for $10,000 cash on September 30 (cost of merchandise is $8,000). Dextra collects 9% sales ta

sammy [17]

Answer:

1. Dr Cash $10,900

Cr Sales $10,000

Cr Sales Taxes Payable $900

2. Dr Cost of Goods Sold $8,000

Cr Merchandise Inventory $8,000

3. Dr Sales Taxes Payable $900

Cr Cash $900

Explanation:

1. Preparation of the journal entry to record the cash sale and 9% sales tax

Dr Cash $10,900

($10,000+$900)

Cr Sales $10,000

Cr Sales Taxes Payable $900

($10,000*9%)

(To Record the cash sale and 9% sales tax)

2. Preparation of the Journal entry to record the cost of September 30th sales

Dr Cost of Goods Sold $8,000

Cr Merchandise Inventory $8,000

(To Record the cost of September 30th sales)

Preparation of the journal entry to show Dextra sending the sales tax on this sale to the government on October 15

Dr Sales Taxes Payable $900

Cr Cash $900

($10,000*9%)

(Being the sales tax on the sale to the government on October 15)

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2 years ago

Under __________ requirements, the union must apply the terms of contract equally to all bargaining-unit employees. question 15

aksik [14]

Under mandatory bargaining requirements, the union must apply the terms of contract equally to all bargaining-unit employees. There are different subjects that are available and open for bargaining. Salary, benefits, contract and employment terms are all types of subjects that an employee can bargin to get what they want even if it's not initally offered. All mandatory subects directly impact an employees terms and conditions in a company.

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2 years ago

Crane incurs a weekly payroll of $251000 that includes federal taxes withheld of $38200, FICA taxes withheld of $23970, and 401(

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Answer:

First let us define the nature of each of the following as per Balance sheet of a company:

Payroll payable- Liability

FICA taxes withheld- Liability

Federal taxes- Liability

410(k)- Liability

Explanation:

Effect of Transaction on assets and liabilities:

Payroll expense Debit will have no impact

Payroll payable, Federal taxes, FICA and 401(k) will increase the current liability.
And when they are subsequently paid, cash will be credited hence decreasing the current assets and all these current liabilities shall be debited, hence decreasing the current liability portion.

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2 years ago

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