Answer:
1. Crane Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $23,000 and sales taxes $1,150.
Dr. Cr.
Cash $24,150
Sales $23,000
Sales tax Payable $1,150
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2. Sunland Company does not segregate sales and sales taxes. Its register total for April 15 is $14,840, which includes a 6% sales tax.
Dr. Cr.
Cash $14,840
Sales $14,000
Sales tax Payable $840
Working:
Sales Tax = ( $14,840 / 106 ) x 6 = $840
Sales = $14,840 - $840 = $14,000
Answer:
The answer is Retain earning (RE).
Explanation:
The profit that they keep to reinvest in the business is reported as retain earning. The part of profit that is not payout as dividend and held for reivestment or any other purpose is included in retian earning and repoted in balance sheet as part of equity above liability section.
Retain earning = Net income - dividend
Retain earning = 35,640 - 3,000 = $ 32,640
The first step in establishing training and development programs is to do a needs assessment. This will provide data on what is needed and what is wanted.
There isn't any sense to developing training, if no one needs or wants it.
Answer:
$300,000
Explanation:
The computation of the operating cash flow is shown below:
But before that EBIT should be determined
Sales $ 2,000,000.00
Less : Cost of Goods Sold $1,200,000.00
Gross Profit $800,000.00
Less: selling and general administrative expenses $500,000.00
Less: Depreciation expense $900,000.00
EBIT i.e. Operating Income/(Loss) $(600,000.00)
Tax at 21% $(126,000.00)
Since it is negative so the tax loss would not be determined
Now Operating Cash flow
= EBIT × (1 -T) + Depreciation expense - Chane in Working Capital
= EBIT + Depreciation expense
= -$600,000 + $900,000
= $300,000
Answer:
A capital gain is, to put it simply, a rise in the value of an investment over its initial purchase price, such as stocks, mutual fund shares, or shares of an exchange traded fund. You have a capital gain if the asset's value rises, and you must pay tax on it
Hope this helped!
