Answer:
Net amount paid = 391050
Explanation:
Accounts payable
=395,000
Cash
=391,050
Inventory
=3,950
Accounts payable
=396,000
Cash
=396,000
Accounts payable
=395,000
Purchase discount =3,950
Cash
=398,950
Accounts payable
=400,000
Cash
=396,000
Purchase discount
=4,000
Accounts payable = 395,000
Cash = 391,050
Inventory = 3,950
Gross amount due = Amount of purchase - return = 400000-5000 = 395000 will be debited to Accounts payable
Discount will be allowed as payment made within 15 dyas
Disount will be = 1% of 395000 = 3950 which will be credited to inventory
Net amount paid will be credit to cash = 395000-3950 = 391050
Answer:
Johan Co.
Explanation:
Since in the question it is given that the Johan Co. has an intangible asset and we already know that on an intangible asset, the amortization expense is charged whereas on the other side the Abco Co has goodwill on which the impairment is charged
So, in the given scenario, the amortization should be reported on Johan Co financial statements only
Answer:
Explanation:
1.Convenient: Indirect taxes are more convenient to pay. ...
2.Less Pinching: The announcement effect of indirect taxes does not provoke resentment, because they cause less annoyance to the public as they are not felt directly. ...
3.Not Easily Evadeable: ...
4.Broad based: ...
hope it helps!!
pls make me brainlest!
:)
The two functions of financial accounting are to measure business activities and prepare tax returns. FALSE
<h3>
What is a Tax return?</h3>
- A tax return is a document submitted to a taxing body that lists earnings, outlays, and other pertinent financial data.
- Taxpayers compute their tax liabilities, set up tax payments, and request refunds for overpaid taxes on their tax returns.
- Tax returns must typically be filed yearly.
- In the United States, tax returns including data necessary to compute taxes are filed with the Internal Revenue Service (IRS) or with the state or local tax collecting agency (Massachusetts Department of Revenue, for instance).
- The IRS or another applicable authority's forms are often used to complete tax returns.
To learn more about Tax return, refer to the following link:
brainly.com/question/27300507
#SPJ4
