Suppose the government places a 5 per unit tax on a good, what the surplus after this tax?<br>

On june 1, nicholson company purchased inventory on account with a cost of. Credit terms were 2/10, net 30. On june 2, nichol

alex41 [277]

The Journal entry which Nicholson company will prepare on June 2 will be like when goods are returned the reverse entry is made which is

Accounts Payable A/c Dr. $480

Purchase Return / Inventory A/c Cr. $480

A journal entry is an act of recording any transaction, whether it is economic or not. Multiple recordings, each of which is either a debit or a credit, may be included in the journal entry.

Accounting journal entries are transferred from the journals and posted to the general ledger in order to record financial transactions in the accounting system. Modern accounting software handles the majority of this process automatically, but it's crucial to understand what's going on since there are instances when manual entries will need to be made to adjust or correct account balances at the conclusion of an accounting month.

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8 0

1 year ago

According to the objective theory of contracts, the intent to enter into an express or implied-in-fact contract is judged by t

Klio2033 [76]

Answer:

A

Explanation:

The reason is that it just makes the most sense. Therefor your answer is A) According to the objective theory of contracts, the intent to enter into an express or implied-in-fact contract is judged by the reasonable people standard

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4 0

3 years ago

Read 2 more answers

Sheridan Company includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. T

Gnesinka [82]

Answer:

Note: <em>The options attached belongs to another question, so the answer is not included</em>

Premium liability at December 31, 2020 = ((510,000*60%) - $130,000) / 8*3

Premium liability at December 31, 2020 = 176,000 / 24

Premium liability at December 31, 2020 = 7,333.33

Premium liability at December 31, 2021 = 7333.33 + ((600000*60%) - 150000) / 8*3

Premium liability at December 31, 2021 = 7333.33 + 360,000 - 150,000

Premium liability at December 31, 2021 = 217,333.33

4 0

3 years ago

Gain is generally recognized in an asset distribution to a partner. True False

8_murik_8 [283]

Answer:

False

Explanation:

Usually distributions reduce a partner's outside basis in a partnership, they are generally not considered income. Since most distributions are not considered income, they do not result in gains for the partner. Some distributions may result in gains, such as certain cash distributions or securities (bonds) distributions. It is uncommon for a gain to result from property being distributed.

5 0

3 years ago

The incomes of 50 loan applicants are obtained. which level of measurement is income

zepelin [54]

Ratio, I did the same question before.

6 0

3 years ago

Suppose the government places a 5 per unit tax on a good, what the surplus after this tax?​

Suppose the government places a 5 per unit tax on a good, what the surplus after this tax?