Answer:
28,000
Explanation:
To get this answer you have to assume perfect competition scenario, since in this case supply = demand. In this case:
At $7,5
Energizer sells 16,000 => Supply Energizer = 16,000
Duracell sells 12,000 => Supply Duracell = 12,000
Total Supply = 16,000+12,000
Answer:
a. Reversal entry:
Debit Rent expense $4,650
Credit Miscellaneous Expense $4,650
Correct Entry:
Debit Rent expense $4,650
Credit Cash $4,650
b. Reversal entry:
Debit Accounts payable $3,700
Credit Cash $3,700
Correct Entry
Debit Cash $3,700
Credit Accounts Receivable $3,700
Explanation:
Reverse entry is to simply close to zero the original entry that has been made in mistake. Afterwards, record the correct entry to properly account the transaction.
To reverse the previously made entry, we simply debit what is credited and debit what is credited.
a. We need to close the rent expense credited by debiting it and credit the miscellaneous expense that is previously debited to zereod out the mistake recording. Then to record the correct entry, Debit Rent expense and Credit Cash at the amount $4,650
b. Just ike what we did on the previous transaction, we will debit the Accounts payable and credit the cash that has been recorded by mistake to zereod out the balance and then make the correct entry. Debit Cash $3,700 and credit Accounts receivable $3,700.
Umhow are we supposed to help u with this?
Answer:
$9,379
Explanation:
using the 2020 tax brackets:
the Comer's gross income = $68,000 + $33,000 + $1,500 = $102,500
taxable income = $102,500 - $24,800 (standard deduction for married couples) = $77,700
taxes owed = $1,975 + [12% x ($77,700 - $19,750)] = $8,929
capital gains = $13,000 - $10,000 = $3,000 x 15% capital gains tax rate = $450
total tax liability = $8,929 + $450 = $9,379
