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swat32
3 years ago
9

Sales revenue for a sporting goods store amounted to $ 535 comma 000 for the current period. All sales are on account and are su

bject to a sales tax of 11​%. Which of the following would be included in the journal entry to record the sales​ transaction?
Business
1 answer:
Serhud [2]3 years ago
4 0

Answer:

Explanation:

The journal entry is shown below:

Account receivable A/c Dr $593,850

         To Sales tax payable A/c      $58,850                 ($535,000 × 11%)

          To Sales revenue A/c          $535,000

(Being sale is made on credit)

The account receivable amount includes both the sales tax payable and the sales revenue amount.

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Sarah purchased a stock one year ago at a price of $32 a share. In the past year, she has received four quarterly dividends of $
alexdok [17]

Answer:

$6.

Explanation:

Holding stock of a Public company entitles you to a potential return on your investment which can be in the form of Capital Appreciation/Gain, that is buying at low and selling at high, or Dividends received. In the given question, we are not required to calculate total return rather capital gain, simply the difference between purchase price and selling price, so there is no need to account for dividends. The formula for Capital Gain is given below:

                Capital Gain / Appreciation = Selling Price - Purchase Price

⇒ Capital Gain = 38 - 32 = $6.

7 0
3 years ago
Which general staff member directs all responses and tactical actions to achieve the incident?.
ch4aika [34]

The Operations Section Chief directs all responses and tactical actions to achieve the incident objectives.

<h3>What is Operations Section Chief ?</h3>

The Operations Section Chief, a member of the General Staff, is in charge of all operations directly related to the core mission. The Operations Section Chief initiates, supervises, and leads the execution of organizational elements in accordance with the Incident Action Plan.

The Operations Section Chief directs tactical incident activities to achieve incident objectives and oversees the implementation of the Incident Action Plan (IAP). 1. This role can be ordered as a stand-alone resource or as part of a National Incident Management System (NIMS) team (Incident Management Team).

The OSC1 works in the Operations functional area and reports to the Incident Commander (IC). The OSC1 performs duties corresponding with the Type 1 incident complexity and characteristics outlined in the Interagency Standards for Fire and Firefighting.

To know more about Operations Section Chief  follow the link:

brainly.com/question/25870256

#SPJ4

4 0
2 years ago
In 2015, the city of Berkeley instituted a tax on sugar-sweetened sodas. Suppose that the tax increased the price of a typical s
DedPeter [7]

Answer:

(g) Between 0 and -S7.5k because residents can substitute to other products

Explanation:

Data given in the question

Increase in price of typical soda = 10 cents

Total consumed = 150,000 sodas [er day

Dropped quantity = 75,000 sodas

So by considering the above information, the per day compensating variation of the tax varies from 0 and - 7,500

Since the sugar sweetened sodas is treated as a normal goods. Moreover, people can substitute the other goods also if there is an increase in a price of the good

The -7,500 is come from = (-75,000 × 0.10)

The options are as follows

(a) Greater than -$15k because soda is a luxury good with income (b) -$15k because that is the old consumption level times the value of the tax (c) Between -S7.5k and -$15k because soda is a luxury good elasticity > 1 with income elasticity >1 (d) Between -$7.5k arti -$15k because residents can substitute to other products (e) -$7.5k because that is the new consumption level times the value of the tax ()-$7.5k because that is the change in consumption times the value of the tax (g) Between 0 and -S7.5k because residents can substitute to other products (h) Between 0 and -$7.5k because because beverages are typically necessity goods with 6) Nothing because there was no effect on income G) It is impossible to say without knowing consumers' marginal rate of substitution income elasticity less than 1

8 0
3 years ago
Pronghorn Company issues 8,900 shares of restricted stock to its CFO, Mary Tokar, on January 1, 2020. The stock has a fair value
zysi [14]

Explanation:

The Journal entry is given below:-

A 1. On 1 January 2020  

    Unearned compensation Dr,                           $445,000  

             To Common stock (8,900 × $10)                          $89,000

             To Paid-in Capital in Excess of Par -common stock  $3,56,000

(Being the restricted stock is recorded)

2. On 31 December 2021

    Compensation expenses Dr, ($445,000 × 1÷5)    $89,000

                 To Unearned compensation                                           $89,000

(Being the restricted stock is recorded)

B On 25 July 2024

      Common stock                                                      $89,000

       Paid-in Capital in Excess of Par -common stock $356,000

                   To compensation expenses                                          $356,000

                   To  unearned compensation                                          $89,000

(Being the forfeiture is recorded)

7 0
3 years ago
HELPP on question 10
Lynna [10]

Answer:

land?

Explanation:

4 0
3 years ago
Read 2 more answers
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