Answer:
C) credit Sales Tax Payable for $21
Explanation:
Based on the information given In the same transaction, they must also CREDIT SALES TAX PAYABLE FOR $21 Calculated as:
First step is to calculate the sales tax element
Sales tax element = $371*6/106
Sales tax element= $21
Now let calculate what the Price exclusive of sales tax would be
Price exclusive of sales tax=$371-$21
Price exclusive of sales tax= $350
The correct journal entry should be:
Dr Cash $371
Cr Sales revenue $350
($371-$21)
Cr Sales tax payable $21
Answer:
Marginal cost, average variable cost, and average total cost will increase. Average fixed cost will not change.
Explanation:
Marginal Cost is the change in total cost as a result of producing one extra unit of output.
Variable cost is cost that varies with output level. Average variable cost = variable cost / quantity produced
Fixed cost is cost that doesn't vary with the level of output produced. Average fixed cost = Fixed cost / quantity produced.
Total cost is the sum of fixed and variable cost. average total cost is total cost / quantity produced.
If the price of supplies increase, the cost of production increases and average total cost, average variable cost and marginal cost would increase.
Fixed cost would remain the same.
I hope my answer helps you
Answer:
Following high-profile corporate scandals including Enron and WorldCom, Congress
passed a set of legislations known as the Sarbanes-Oxley Act which requires the
disclosure of the presence or absence of a Code of Ethics for senior financial officers.
Explanation:
The Sarbanes-Oxley Act of 2002 is a federal law that established sweeping auditing and financial regulations for public companies. Lawmakers created the legislation to help protect shareholders, employees and the public from accounting errors and fraudulent financial practices.
Answer
<em>Correct comma splice, Correct Fragment, Vary sentence types</em>
Explanation:
<em>From the question given, on how to improve this message i will use the following methods which are</em>
- <em>Correct comma splice</em>
- <em>Correct Fragments</em>
- <em>Vary sentence types</em>
<em>Comma splice: It is two independent clauses are put together incorrectly by a comma to make a sentence. To avoid this problem, an independent clause. must first be identified.</em>
<em>Correct fragments: A fragments can be used correctly on two ways, </em>
<em>one is including the main clause in a passage, secondly Whether adding or connecting, you must use the right punctuation connecting the fragment to a main clause already in the passage. </em>
<em>Vary sentence types: when you can combine more ideas to develop more complex sentences, when you noticed too many short sentences.</em>
