Answer:
Debit Credit
Applied overheads $110,000
Cost of sales (over applied overheads) $4,000
Overhead control account $106,000
Explanation:
Since the estimated overhead amounting to $110,000 are greater than the actual overheads amounting to $106,000, therefore the overheads are overapplied by $4,000.
The journal entry to disposed off the overapplied overheads are given below:
Debit Credit
Applied overheads $110,000
Cost of sales (over applied overheads) $4,000
Overhead control account $106,000
Answer:
Ace records the purchase:
Inventory 3,700 Accounts payable 3,700
Explanation:
Ace Bonding Company purchased merchandise inventory on account. The inventory costs $3,700.
Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made. At that time of purchasing, the company has not sold the merchandise yet. The entry records the purchase:
Debit Inventory $3,700
Credit Accounts payable $3,700
I think A if not than B I’m sorry if I’m incorrect
I believe the answer is: High-income earners use tax laws to their advantage to reduce their tax rates
High income earners tend to possess financial knowledge or ability to allow experts who understand the full scope of taxation laws and how to recorded the transactions in a way that make it eligible for tax deduction. This makes a lot of high income earners manage to avoid paying taxes even if they manage to obtain a lot of profit.
