1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
denis-greek [22]
2 years ago
7

Omega.com sold 25 jet skis for $7000.which cost$5000 The entry to record the sale would be

Business
1 answer:
Hoochie [10]2 years ago
5 0

If the company sold 25 jet skis at $7,000 each the total value of the sale is $175,000. The correct way to record this transaction would depend on how the sale was paid for.

If the jet skis were paid for with cash the entry is going to be a debit to Cash for $175,000 and a credit to Sales for $175,000. If they were sold on account the entry is going to be a debit to Accounts Receivable for $175,000 and a credit to Sales for $175,000.

You might be interested in
Newell Rubbermaid Inc. manufactures and markets a broad array of office products, tools and hardware, and home products under a
ValentinkaMS [17]

Income Taxes Using appropriate headings and subtotals prepare a multiple-step consolidated income statement.

An Income tax is a tax imposed on people or entities in admire of the income or profits earned by way of them. income tax generally is computed because the manufactured from a tax price instances the taxable earnings. Taxation fees can also vary by using the kind or characteristics of the taxpayer and the type of profits.

                Consolidated Income statement

                Particulars                                    Amount

Net Sales                                               $ 5,864. 6

Less: Expenses                                      

Cost of Products sold                         = $ 3,6594.4

           Gross Profit                               = $2,205.2

Less: Operating expenses                            

Selling general, and administrative expenses    $ 1,515.3

Other expenses                                                     $ 432.7

          Operating Income                                   = $ 275

Less: Non-operating expenses

Interest and other non-operating expenses   $ 104.7

 Income before Taxes                                   = 152.5

Less: Income Tax expense                            $ 17.9

 Income after Taxes                                   = $134.6

Less: Loss on sale of Discontinued Operations

(net of income taxes)                                            $9.4

          Net Income                                                   $ 125.2

Learn more about  Net Income here:-brainly.com/question/15530787

#SPJ4

6 0
1 year ago
Mika decides to rent instead of buy because it is the cheapest option over the first 3 years. his move-in costs are one month's
Vika [28.1K]
Its "C" 828 i just took the test 
4 0
3 years ago
1. What are the three key assets that Walmart can leverage (build on) to compete with Amazon and other online retailers
Colt1911 [192]

Answer:

The 3 important assets that Walmart can be used to remain competitive with Amazon have been listed below.

Explanation:

Driven by the increasing utilization of internet shopping, retail chains, together with Walmart, were concerned about its business model. However, as Walmart is still in a safe stance and has been for some moment, it could be said that this same corporation does have some methodologies to encourage Amazon, its biggest throughout the world corporation.

  • Walmart seems to have the biggest independent water channel transportation system.
  • It would have the fastest-growing traditional retail stores across the U.S. Just because of this, this has become a density.
  • Also, this same strategy will enhance the percentage of warehouses and therefore a retail distribution channel.
5 0
2 years ago
Sebastian received a raise this year so his income climbed from $45,000 to $52,000. Last year Sebastian purchased 2 sunglasses.
sveticcg [70]

Answer:

normal good

elastic demand

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.

Income elasticity = percentage change in quantity demanded / percentage change in income

percentage change in quantity demanded = (7/2) - 1 = 250%

percentage change in income = (52,000 / 45,000) - 1 = 15.6%

250 / 15.6 =  16.07

If the absolute value of income elasticity of demand is greater than one, it means demand is elastic.

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls

Inferior goods are goods whose demand falls when income rises and increases when income falls.

5 0
2 years ago
The features of Municipal bonds make them attractive to high income, _________ bracket investors. a) Low-tax b) Average-tax c) H
Tasya [4]

Answer: c) High-tax

Explanation:

Municipal bonds are quite attractive because they offer returns that are free of Federal taxes which means that the return quoted on them is the after-tax return already.

For this reason their returns are usually less than corporate bond returns. Investors in high tax brackets will therefore be attracted to municipal bonds as it gives them a chance to get tax savings on amounts they would have paid as taxes.

8 0
2 years ago
Other questions:
  • JED Corp., an e-commerce company, has created a network that supports its supply chain management system. The network provides t
    15·1 answer
  • An accreditation agency counterpart to the joint commission for managed care organizations is
    15·1 answer
  • In order to package one of their products, Acme Box Co. needs to construct a box whose bottom side has length 3 times its width.
    14·1 answer
  • A firm has earnings before interest and taxes of $27,130, net income of $16,220, and taxes of $5,450 for the year. While the fir
    11·1 answer
  • Edward is considering buying a home using credit. What are three questions he should ask himself to ensure he is using credit re
    13·1 answer
  • Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank stat
    7·1 answer
  • A goal of monetary policy and fiscal policy is to
    13·1 answer
  • d. Suppose that the increase in input price does not occur but, instead, that productivity increases by 25% percent. What would
    13·1 answer
  • Assume that you have been hired as a consultant by CGT, a major producer of chemicals and plastics, including plastic grocery ba
    14·1 answer
  • How was the halftime show yesterday
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!