Usually experiments are done by random assignment of the subjects or objects. This helps the study reduce bias and other potential threats to the credibility of the study. Thank you for your question. Please don't hesitate to ask in Brainly your queries.
Answer: income statement and the statement of cash flows
Explanation:
Answer:
1. $400,000
2. $140,000
3. $56,000
4. $84,000
Explanation:
1. Budgeted gross profit = Budgeted sales - Budgeted COG sold
where, Budgeted COG sold = $480,000 + $60,000 - $40,000 = $500,000
By putting the value, we get
Budgeted gross profit = $900,000 - $500,000
= $400,000
2. Budgeted income before taxes = Budgeted gross profit - selling and administrative expenses - interest expense
= $400,000 - $250,000 - $10,000
= $140,000
3. Budgeted income tax = Budgeted income before taxes × tax rate
= $140,000 × 40%
= $56,000
4. Budgeted net income = Budgeted income before taxes - Budgeted income tax
= $140,000 - $56,000
= $84,000
Answer and Explanation:
The journal entry for the recording of sales and sales tax payable is shown below:
Accounts Receivable $3,472
To Sales $3,200
To Sales tax payable $192 ($3,200 × 6%)
To Local tax payable $80 ($3,200 × 2.5%)
(Being the sales and sales tax payable is recorded)
For recording this we debited the account receivable as it increased the asset and credited the sales, sales tax and local tax as it increased the revenue and liabilities
