Answer:
1. Yes; Journal entry
2. Debit- Printing & Stationery Expense $160 (value for 8 boxes)
Credit- Cost of goods sold or Trading account A/c $160
3. Leaves to the cost of goods sold account
Explanation to:
1. Mackalaya used inventory. Remember, inventory is a term used to refer to all the merchandise (goods or products) a company has at the moment in stock.
2. The Journal entry to be made would be
Debit- Printing & Stationery Expense $160 and Credit this value to Cost of goods sold or Trading account A/c section of the Journal entry.
3. Remember, the cost of goods sold cares for all inventory sales, therefore it would be credited with value of the inventory item sold by the company.
Answer:
FALSE
Explanation:
Microeconomics refers to the branch of economics which examines the actions of persons and businesses in making choices about limited resource distribution and the relationships between these entities and industries.
Although microeconomics concentrates on companies and people, macroeconomics focuses on overall economic exercise, talking about issues of development, interest rates, and joblessness, and governmental policies on such concerns.
Thus, from the above we can conclude that the given statement is false.
Answer:
localization of a Web site.
Explanation:
When a web site of a company is localised, it provides information. To users that is relevant to their locality. The access to local information about the business helps to drive sales at local stores of the business
In this instance localisation of the website is done by including a drop-down menu on its main Web site. With this drop-down menu, people can view their country-specific Web site, which contains information about the dishes that Symbic Foods serves in that country.
A transaction is any monetary business event that impacts a business's financial statements.
<h3>The journal entries </h3>
The journal entries are as follows
On August 4
Account Receivable $610
To Sales Revenue $610
(Being the goods sold on credit basis is recorded)
On August 7
Sales Return and Allowances $60
To Accounts Receivable $60
(Being the sales allowance is recorded)
On August 12
Sales Discount $11
Cash $539
To Accounts Receivable $550
(Being the amount paid is recorded after considering the 2% discount
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Answer:
The answer is: A) $0
Explanation:
I am assuming Stuart's stock is part of his retirement account. If this is true, then the stock dividends and stock splits are not taxed as they are earned (but they will be taxed later when Stuart starts receiving his distributions).
If Stuart's stock was not part of his retirement account, then he would have to pay taxes (usually a 15% tax rate applies).
