All categories

3 years ago

A company receives $348, of which $28 is for sales tax. The journal entry to record the sale would include a

Business

1 answer:

Anit [1.1K]3 years ago

6 0

Answer:

3) debit to Cash for $348.

Explanation:

The complete journal entries should be:

Dr Cash account 348

Cr Sales Revenue account 320

Cr Sales Taxes Payable account 28

Cash is an asset account and it increases, so it should be debited.

Sales revenue is a revenue account and it increases, so it should be credited.

Sales taxes payable is a liability and it increases, so it should be credited.

You might be interested in

A mid-sized firm plans to issue 10 million shares during an IPO. The underwriter plans to sell shares at $24.45; however, many i

HACTEHA [7]

Answer:

The answer is " $\$243,400,000$ ".

Explanation:

The medium-sized company proposes to issue 10 million IPO shares.

Its Contractor intends to purchase $$24.45;$ this implies cash flows from

$\to 10,000,000 \times 24.45= \$244,500,000$

When the contractor pays an IPO cost of million, the company shall

In the IPO this would raise

$\to \$186,000,000 - \$1,100,000 = \$243,400,000$

6 0

3 years ago

Why might the government or society want the rent policy in place rather than letting the market decide on the price of the good

alekssr [168]

Rent control does decrease housing costs for some low income households, the savings from dwelling in these devices tends to accrue disproportionately to families who show up to be in the right vicinity at the proper time; and a couple of households in better income brackets with greater ability to secure.

According to the basic idea of supply and demand, rent control causes housing shortages that lessen the wide variety of low-profit folks who can stay in a town. Even worse, lease manipulation will have a tendency to raise demand for housing — and therefore, rents — in other areas.

Policymakers often react to the results of hire manipulation by means of implementing additional rules. As an example, there are laws that make racial discrimination in housing unlawful and require landlords to provide minimally ok residing situations. Those laws, but, are difficult and luxurious to implement.

Learn more about Rent control here: brainly.com/question/2423256

#SPJ4

5 0

2 years ago

Which of the following options is a challenge to the sustainability of strategically implementing an information system? A. Man

Ludmilka [50]

Answer:

D. Customers and suppliers willing to learn and evolve with new technology

Explanation:

In an implementation of any new IT system, the resistance to adoption from different stakeholders in the organizations is one of the most difficult challenges that is faced by the project managers. To overcome this resistance, the project manager needs to be accustomed to the basic principles of change management which involves:

1 - Designing incentive systems that forces all the stakeholders to adopt the new system.

2- Manage proper communication strategy that conveys the benefits of adopting the new system and conduct training for all the users.

However, there will still be resistance from certain suppliers and customers to the adoption of the new system. Which can lead to failed implementation of the system. However by doing the following, any organization can make sure that customers and suppliers quickly become an integral part of the IT system:

1- Take feedback from the customers and suppliers so that not only a more user friendly system can be designed, but also customers will be more invested as they feel they have been part of the decision making process.

2- Invite customers and suppliers to use the company resources to make themselves accustomed to the new system.

3 0

3 years ago

If competitors can copy or match the products and services the firm offers, it will be difficult to develop a sustainable compet

balu736 [363]

Answer:

resources that are valuable, rare, costly to imitate, and non-substitutable

Explanation:

If competitors can copy or match the products and services the firm offers, it will be difficult to develop a sustainable competitive advantage through product excellence. A firm can, however, develop an advantage through product excellence with resources that are valuable, rare, costly to imitate, and non-substitutable

Apart from product excellence, Intangible assets that have no physical presence like Brand reputation, trademarks and intellectual property are all intangible assets unlike physical resources, cannot buy from the market by other competitors. They are developed within a company and constitute the source of sustainable competitive advantage.

In particular, the resources that generate competitive advantage are those that possess the VRIO characteristics,which implies that they are

Valuable, hence there will be no competitive disadvantage

Rare, hence there will be no competitive parity

Imitate, - are costly and difficult to imitate hence they cannot be copied

Organised to Capture Value - which means they are non-substitutable.

4 0

3 years ago

In the cleveland custom cabinets case, the owner of the company thought it was all right to manipulate the financial statement n

True [87]

In the Cleveland custom cabinets case, the owner of the company thought it was all right to manipulate the financial statement numbers primarily because he was the sole owner of the company and controlled the board of directors.

But, the sole owner is for my part answerable for all debts incurred by using the enterprise." Examples of sole owners encompass small corporations which include, a local grocery keep, local garments save, an artist, a freelance author, an IT representative, a freelance photo designer, etc.

A sole owner—additionally called a sole trader or a proprietorship—is an unincorporated business that has simply one proprietor who will pay private earnings tax on profits earned from the commercial enterprise.

Sole ownership manner distinct possession. it is a possession so entire that no other man or woman has any interest in the assets. someone's ownership is "sole" while no person apart from the character has any interest inside the belongings as owner.

Learn more about sole owner here brainly.com/question/4442710

#SPJ4

4 0

1 year ago