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xz_007 [3.2K]
3 years ago
7

Dextra Computing sells merchandise for $17,000 cash on September 30 (cost of merchandise is $11,900). The sales tax law requires

Dextra to collect 3% sales tax on every dollar of merchandise sold. Record the entry for the $17,000 sale and its applicable sales tax. Also record the entry that shows the payment of the 3% tax on this sale to the state government on October 15.
Business
1 answer:
grigory [225]3 years ago
7 0

Answer:

Journal entries

Explanation:

1.  Cash $17,510

       To Sales revenue $17,000

       To Sales tax payable $510    ($17,000 × 3%)

(Being the sale is recorded)

2. Cost of goods sold $11,900

          To Merchandise inventory $11,900

(Being the cost of merchandise is recorded)

3. Sales tax payable $510

          To Cash $510

(Being the payment is recorded)

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Solution :

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The corporations does not have a comparative advantage when they invest in the real estate by a means of the diversification from its core business. This is because the organizations do not hold the real estate in the large number of the geographical area. They also do not hold a number of different types of the properties. Therefore, they do not tend to diversify from their real estate holdings as the large institutional investor who hold a more diversified and a larger portfolio.

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3 years ago
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Answer:

a. a smaller increase in the marginal product of labor. 

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I hope my answer helps you

6 0
3 years ago
The opening of a new American-owned factory in Algeria would tend to increase Algeria's GDP more than it increases Algeria's GNP
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Answer:

The correct answer is option a and option b.

Explanation:

The opening of a new American-owned factory in Algeria would tend to increase Algeria's GDP more than it increases Algeria's GNP.

This is because the GDP of a nation is the value of final goods and services produced in an economy in a year by both domestic citizens as well as foreign residents.

While GNP of a nation does not include the income earned by the foreign residents within the boundaries of a nation. So it is lower than GDP.

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