Answer:
.D)Debit Cash $627.20; debit Credit Card Expense $12.80 and credit Sales $640
Explanation:
Sales = $640
To recognize this,
Debit Cash $640
Credit Sales $640
Being entries to recognize sale and cash received.
On this sale, the bank deducts 2% of the sales value
Amount deducted = 2% × $640
= $12.80
To recognize this,
Debit Credit Card Expense $12.80
Credit Cash $12.80
Being entries to recognize credit card expense incurred on sale.
As such, the net effect of the two entries
Debit Cash $627.20
Debit Credit Card Expense $12.80
Credit Sales $640
The right option is D)Debit Cash $627.20; debit Credit Card Expense $12.80 and credit Sales $640.
Answer:
$0.80.
Explanation:
We can find the remaining amount earned by just dedcuting he income tax. The corporation tax will be deducted from the earnings before tax at the rate of 35% and the personal tax will be deducted from the dividends distributed at the rate of 30%.
$
Earnings before taxes 1.75
Dividend distributed $1.1375
less:
Corporate tax ($1.75*35%) (0.6125)
Personal tax (1.1375 X 30%) (0.34125)
Amount remaining $0.80.
Answer:
The answer would be A
Explanation:
Qualified plans provide two important tax benefits that are not available in other types of investments.
Tax rates will be higher in future years, but the benefits of the tax deferred savings plan will overcome higher tax rates over time.
In my personal opinion, the correct priority in making a business decision is is priority number 3, Profit - Organization Values - Personal Integrity
The main purpose of doing a business is Profit. If you're doing something for the benefit of others, you could call it charity or donations, but not a business.
Answer:
B, Apple
Explanation:
Apple is an American Tech company founded by the late Steve Jobs and two other partners in April 1976, with its headquarters in California. The company is popular for its mobile phones and tablet (iphone, ipads).
Over the years, Apple has gone on to expand its business frontiers by establishing Apple TV, Apple watch, Air pods, etc. Apple alongside other tech firms have competed to take the top spot in the Tech industry but Apple has always been above the pack.
The company has been the most valuable firm for a while now and has posted record earnings in profits than any other firm in other industries. It is registered on the Stock Exchange and enjoyed phenomenal rise in stock values.
Cheers.