Answer:
Cash sales = $233,200 × (100 ÷ 106)
= $220,000
Credit sales = $153,700 × (100 ÷ 106)
= $145,000
Sales tax revenue = ($220,000 + $145,000) × 6%
= $21,900
Therefore, the Journal is as follows:
Sales tax revenue A/c Dr. $21,900
To sales tax payable $21,900
(To record the sales tax payable)
Answer:
Since Effie Corporation forfeited their stock subscription, then they will lose their stocks and the money they invested in Narda Corporation.
In this case, Narda was being completely acquired by Effie Corporation and the whole operation went down, then the initial payment must be recorded as additional paid in capital. It should not be included as part of operating income since it wasn't a normal business activity.
Answer:
Net income= $24,550
Explanation:
The contribution margin ratio is <u>the result of deducting from sales all the variable costs, </u>expressed as a<u> percentage.</u>
<u></u>
<u>First, we need to calculate the total contribution margin:</u>
Total contribution margin= sales*contribution margin ratio
Total contribution margin= 103,000*0.85
Total contribution margin= $87,550
<u>Now, the net income:</u>
Net income= 87,550 - 63,000
Net income= $24,550
The work breakdown structure provides a basis for creating the project schedule and performing earned value management for measuring and forecasting project performance. A work breakdown structure is also known as WBS- which helps break down the team's work into smaller, more manageable sections. By breaking down the sections into smaller groups gives more opportunity for completion before moving on to the next group and makes the tasks more managable.
Answer:
C because Perishability is used in marketing to describe the way in which service cannot be stored for sale in the future
