Answer:
Journal Entries
Dr. Cr.
Sale of Merchandise
a. Account Receivable $4,240
Sales $4,000
Sales Tax Payable $240
Cost of Goods Sold $2,360
Merchandise Inventory $2,360
b. Payment of Sales Tax
Sales tax Payable $42,110
Cash $42,110
Explanation:
Sales of Merchandise increase the account receivable and tax liability as well. Inventory has been reduced by the cost of merchandise.
Tax is paid and sales tax liability is reduced along with cash.
Answer:
A. in a decision, the restrictions placed on potential solutions to a problem
Explanation:
Answer:
a. a lawful action that is not a tort.
Explanation:
A tort refers to some wrongful act or some infringement of any right which is other than under any contract which leads to a legal liability. It is based on a civil law. People are liable for their actions taken against another both accidentally or intentionally.
In the context, the customers who is regular to Purity Cleaners tries to patronize or condescend OK Dry Cleaners instead of Purity Cleaners. This is lawful action, however not a tort.
Answer: $428
Explanation:
From the question, we are informed that one bought 100 shares of stock at an initial price of $37 per share and that the stock paid a dividend of $0.28 per share during the following year, and the share price at the end of the year was $41.
The total dollar return on this investment will be calculated as:
= 100(41 - 37 + 0.28)
= $428
