Answer:
General Ledger Dr. Cr.
1. Cash $65,940
Sales Tax Payable $3,140
Sales $62,800
2. Cost of Goods Sold $37,500
Merchandise Inventory $37,500
3. Sales Tax Payable $39,650
Cash $39,650
Explanation:
Sales tax is subject to 5% which is
Sales Tax = $62,800 x 5% = $3,140
Total Cash received = $62,800 + $3,140 = $65,940
Cost of the merchandise sold is recorded in the cost of goods sold account.
Tax is paid in cash and Tax payable liability is reduced by a debit entry.
Answer:
The change should be reported in current and future fiscal years
Explanation:
The transformation in the depreciation method is indeed a transition mostly in accounting estimate. Consequently, quantitative measurements and public transparency are required in the endnotes. This also needs to answer the rationale as well as the financial consequences of the move.
Therefore, the depletion process may be modified either without necessary modifications as well as with retrospective effect. Excluding historical turn implies no provision for past entrants will be produced and the current system would only compensate for potential depreciation.
Answer:
A. Transmissions manufactured in Alabama for Ford's range of Upper F minus series pickup trucks. B. School supplies purchased by a local school board.
Explanation:
The remaining two options are not considered in the calculation because GDP concerns the consumption of final goods by the public. C. Canned foods purchased by a grocery store. Here a store is the buyer, not a public consumption. D. Foot massages at spas in California. Here massages are not classified as a product.
Answer:
D. How will the questions be defined?
Explanation:
When devising a market research study, one of the first steps is to define the questions of the study.
These questions should be very specific, so that the information gathered by the research can effectively answer them.
For example, a good question for a market research study is "what percentage of marke share have competitors gained over us in the last two months for these two products".
That question is very specific, narrowly defined, and can be easily answered by gathering the appropriate information.